EIB Emirates Islamic Bank in deal for Emcredit services
Will gain perspective on repayment history
Dubai: In a move to enhance its risk management policies, Emirates Islamic Bank (EIB) has signed an agreement with Emcredit to use its credit information reporting services. This announcement was made yesterday by Emcredit, the UAE's first government-backed credit bureau.
Through Emcredit's Credit Scope, which provides factual records of a company's or individual's credit history, EIB will gain an accurate perspective on its borrowers' repayment history as well as their capability to service new and existing debts. This will enable EIB to make more informed lending decisions, improve services to its existing customers and tailor products and services based on the credit history of its customers.
Ali Ebrahim, managing director, said: "We are very pleased to announce this partnership with Emirates Islamic Bank, which demonstrates the value that Emcredit can bring to Islamic financial institutions in managing their credit books and credit expansion."
