Investors: The “personal” report must be separated from the “companies.” Two bankers: The banks are committed to what appears in the “report.”

“Credit information”: the “credit score” of individuals is linked to their companies as long as they are wholly owned by them

• The company report is separate from the individual report if the company is a limited liability company and not a sole proprietorship.

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Al-Etihad Credit Bureau reported that individuals' credit report is related to the performance of their companies, if they are wholly owned by them, i.e. an (individual) company, and they have the right to sign all its documents, including checks and bank transactions without others, while the company's report is separate from the individual's report. If the company is a limited liability company, and not a sole proprietorship, here each party has an independent credit report.

On the other hand, the owners of companies, who have the right to sign checks and bank transactions, demanded that their credit report be separated from the report on their companies, as merging the two reports together negatively affects one of the parties, explaining that sometimes personal checks are returned to them, related to rent or schools. Their children, telecommunications bills, or others, at a time when their companies are committed to paying their obligations on time, yet the company is prevented from taking financing.

They pointed out that the opposite is also true, as sometimes the owner of the company is obligated, and does not have any bounced checks, while there are arrears on the company, which negatively affects his credit assessment, and prevents him from taking any facilities, loans or even car financing.

In turn, two bankers said that the banks adhere to what is contained in the customer’s credit report, and currently there is one report that includes the customer’s personal data, and those related to his company, and it is treated as a single financial disclosure, stressing that if the customer’s personal report is separated from the company’s, the banks will apply However, it is dealt separately when assessing the creditworthiness of the customer or his company.

In detail, the CEO of Al-Etihad Credit Bureau, Marwan Lutfi, said that “the credit report of individuals is related to the performance of their companies, if they are wholly owned by them, any (individual) company, and they have the right to sign all its documents from checks and bank transactions without others, while they are separated. The company’s report on the individual’s report, if the company is a limited liability company, and not an individual, and here each party has an independent credit report.

He explained to "Emirates Today", "The credit report adheres to the legal form that must be relied upon when dealing with people, if they own individual companies, as it is not possible to separate their banking transactions, and the checks returned to them, whether for personal or company matters, from each other, and all (defaults) appear in the credit report, and affect the person and his company,” explaining that “in the event of defaults, for example, in individual companies, the insolvency law is invoked, not bankruptcy, because the company’s obligations are related to its owner, and this What has been built upon in the credit report of individual companies.

He said that "those who have problems related to their company's credit report can request to meet with a team from Al-Etihad Credit Information Company, to clarify all the required points, but the owners of companies must be aware that any obligations on their companies, defaults or bounced checks, appear in their credit report." ».

Lutfi added, "The check is a tool of fulfillment, and there must be sufficient care and care when writing it. There is no doubt that bounced checks, whether for a person or his company, affect the credit evaluation number negatively, as long as it is his private company."

On the other hand, the citizen (Abdullah.A.), who preferred not to be named, said: “I do not run the company, but I sign important papers and checks, and sometimes checks are returned to the company during transactions with other merchants, so I bear the consequences on a personal level, so I cannot take financing.” For a house, a car, or any banking transaction as a result, although I do not have any returned checks for personal transactions.”

The two citizens, who identified themselves as (Youssef.M) and (Mohammed), agreed with (Abdullah.A.), that the return of personal checks had prevented their companies from taking funds, although all the company's obligations were paid on time, and there are no returned checks in its name. .

They added that because the credit report data included all the information, they had great difficulty in obtaining bank financing.

And they called for studying the separation of the personal report from the business report, because of the negative effects that this causes on one of the parties.

In turn, banking expert Ahmed Youssef stressed that as long as a person runs the company, he should not write a check belonging to it without making sure that there is a balance, explaining that “the personal financial disclosure undoubtedly affects the credit report of his company, meaning that if he cannot manage his own financial affairs, and he has Bounced checks, so how can he be given financing and loans to run his company?

He said it is good to keep a close eye on one's payments, both personally and for the company's account.

For her part, the banking expert, Awatef Al-Harmoudi, said, “The banks are committed to what is contained in the credit report issued by the Al-Etihad Credit Bureau, which includes all the client’s arrears, whether personal or related to his company, but this is not the only factor that is taken into account when granting financing. , as there are other matters that are studied such as financial flows, the size of the company, its history, and other matters,” explaining that “the law considers the person and his company as one entity if they are individual, and therefore care must be taken to pay all obligations, and not to write checks from without credit.”

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