The UAE has finally opted for transparency by establishing a UAE wide credit bureau called Emcredit. Rather than leaving the decision to the individual Emirates the government decided on a Federal solution. UAE legislation is currently being considered by a committee of the Ministry of Justice. It is expected to be passed relatively shortly. Preparations are said to be in the advance stage and the credit bureau would become operational in 2007. Banks are expected to provide 80% of the data processed by the bureau. At this point in time no information is available as to the ownership of the bureau as well as the technology provider. Source: Gulf News March 2007
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Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.
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