5 November 2024, Tue |
8:25 PM
Dubai National Insurance (DNI) and Al Etihad Credit Bureau (AECB) have signed a Memorandum of Understanding (MOU) dated March 3, 2022.
The MOU reaffirms DNI’s commitment to financial sector transparency in order to better serve consumers and protect the interests of its shareholders.
Mr. Abdulla Al Nuaimi, CEO of Dubai National Insurance & Reinsurance PSC (DNI) said: “DNI is committed to promoting best practices through critical public sector partnerships to strengthen our financial position and mitigate credit risk exposure. The partnership with AECB is an important step in helping us understand and serve our customers better and help us distinguish service offerings to clients that have a strong credit history.”
Mr. Marwan Ahmad Lutfi, CEO of Al Etihad Credit Bureau (AECB) said: “We pride ourselves in offering timely credit reports that are systematically grounded on transparency, as we believe it to be key for building trust and forging longterm relationships. Our collaboration with DNI is yet another step in that direction. AECB’s expertise in foresighting credit risk will positively resonate with DNI’s customer base, and provide the necessary tools to support greater shareholding interests.”
AECB collects credit information from financial institutions in the UAE, such as banks and finance companies, as well as non-financial institutions in the UAE, such as telecom operators and large conglomerates – and government entities, such as courts and water and electricity providers, to produce Credit Reports and Credit Scores that are made available to individuals and businesses in the UAE.
AECB’s products may better support insurance application choices by rewarding individuals and businesses for their ability to maintain timely payment schedules and creditworthiness, as well as access the finest goods and solutions in the market. DNI may depend on AECB reports and ratings to analyse the financial strength and capabilities of people and businesses.
