AECB report is something that not many people (including those living in the UAE) know, what exactly is the AECB report? This is a credit report from Al Etihad Credit Bureau (AECB). It is a document that includes your personal identity information, details of your credit cards, loans and other credit facilities and your payment and bounced check history. AECB report is required for various business opportunities in UAE in today’s scenario.
Currently, AECB report strictly follows the UAE laws and regulations, whereby AECB staff strives to provide accurate credit reports to individuals, financial institutions and businesses in the United Arab Emirates. Al Etihad Credit Bureau (AECB) is a federal government agency that collects credit data, information and financial obligations from banks and financial institutions by understanding the real situation of the customers. The AECB reporting authority operates in accordance with UAE laws and regulations.
What is a credit report?
A credit report is a record that contains information about your personal identity, credit cards, loans and other credit facilities, payment and bounced check history, and reveals facts about a person’s transactions. Here is your Al Etihad Credit Bureau (AECB) credit report. Banks, banking institutions and telecom companies contribute information on your credit report. In the future, additional data from other sources such as utilities, real estate, government and other institutions will be included. In short a credit report is an important document in every sense.
What is a credit score?
As the saying goes, AECB’s credit score is a three-digit number that indicates your likely hood of making timely loan and credit card payments. Its value can fluctuate and varies between 300 and 900, a low number is unfavorable and indicates a high risk, while a high score is favorable and indicates a low risk.
Learn how to get your credit report and score
Speaking of which, take the help of any reliable business consultancy in UAE, to understand your credit report and score for individuals, they can help you effectively in this regard. There are many business setup consultancies or platforms that provide good service in UAE. Or down load the AECB app from Google Play or App Store and visit AECBs Customer Happiness Centers with the original valid Emirates ID Card of the business owner or the company’s authorized signatory to get a credit report with score for businesses.
Is there a solution if the information on the credit report is incorrect?
If the information on your credit report is possibly incorrect, there are reasonable remedies. To correct or update incorrect information on your credit report, all you have to do is contact a trusted business set up consultancy in the UAE to contact the appropriate information provider. There are many consultancies or platforms in the UAE, including Dubai and most of them provide good service. Don’t worry about how I file a complaint, contact a good consultancy to file our dispute regarding errors in the credit report.
As an individual, I don’t know much about credit report, now what I need to know is how can access my credit report and credit score companies? To obtain a credit report – companies must visit our Customer Happiness Centers and provide the following. But better is to approach any reliable business set up consultancy in UAE. Consultancies can help you with everything related to accessing your credit report and credit score.
Can Al Etihad Credit Bureau accept or reject loan application?
Others have other doubts, they ask whether Al Etihad Credit Bureau can accept or reject their loan application. In fact, Al Etihad Credit Bureau is not a decision maker, and they do not have the authority to do so. Al Etihad Credit Bureau acts as a mediator and only collects the personal data. Banks and financial institutions (credit providers) are the decision makers and the first point of contact for loan or credit applications.
There are still questions, some asking how can they ensure their credit information is protected and safe? Definitely a fair question, Information, confidentiality and data; protection are very important to Al Etihad Credit Bureau as a credit bureau. Information will be kept confidential as per UAE laws and regulations. One thing can be said for sure, Al Etihad Credit Bureau as a credit bureau can be trusted with confidence.
What is consent related with AECB?
Everyone knows the meaning of the word consent in General, but here there is a slight difference. Consent is an authorization signed by an individual or company to the institutions or any other entity authorized to obtain credit reports from Al Etihad Credit Bureau on individuals or companies. This approval must be in writing, consent signed by a superior is very relevant in some circumstances in the UAE.
If you contact the known Bizvise business set up consultancy in UAE, they will provide all related assistance regarding AECB, Bizvise is the best and most trusted consultancy in UAE.