The UAE’s Al Etihad Credit Bureau (AECB) has begun issuing credit reports on commercial organisations in the country.

Reports issued by the bureau will include a company’s full address, details of its ownership, credit facilities that are being used, total amount of credit taken and a firm’s track record of repayment

The reports will also help UAE companies to check that information held by banks is accurate when applying for a loan, Al Etihad Bureau said in a statement.

“As the UAE’s financial sector matures and increasingly positions itself as a competitor on the global financial stage, it is essential for the country’s banks, lenders and utility providers to have as much information at their fingertips as possible when making important commercial credit decisions – especially as the amount of credit in question can be substantial,” said Marwan Ahmad Lutfi, CEO of Al Etihad Credit Bureau.