More than 180 representatives from 42 financial and banking institutions in the UAE attended a series of technical and awareness workshop sessions in Abu Dhabi recently.

The sessions were conducted by Al Etihad Credit Bureau, a UAE-based credit report provider, in preparation of its consumer bureau operational launch in the first quarter.

The sessions were focused on training credit and risk executives to effectively access and use the new Al Etihad Credit Bureau system, understand its technical functions and correctly interpret credit reports.

To support the technical workshops, the bureau also conducted 27 general awareness sessions for more than 600 front-line customer service staff from nine of the largest retail financial institutions in the UAE.

The sessions were conducted to provide frontline banking executives with a deeper understanding of credit reporting and equip the banks with the required knowledge to explain credit reports and the importance of maintaining a good credit rating to customers.

It featured a presentation about Al Etihad Credit Bureau’s services and credit reports, as well as a discussion about the benefits offered by the new system and a frequently asked questions (FAQ) session.

Marwan Ahmad Lutfi, CEO, said: “We are conducting intensive operational workshops to assist our partners in preparing for the upcoming launch of the consumer credit bureau.

“All UAE financial institutions have expressed full compliance and we are delighted to reveal that all retail banks in the UAE are actively submitting data to the Bureau through secure point-to-point connections.”

Al Etihad Credit Bureau will commence operations soon after the announcement of the by-laws approval by the UAE Cabinet of Ministers in the official gazette. - TradeArabia News Service