Al Etihad Credit Bureau (AECB) has informed to link the utility bills to the credit score of a UAE resident. Those who are slacking off with the payment of utility bills will no longer be able to access personal or auto loans, mortgages and credit cards from banks.
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During a panel discussion hosted by Dubai-based bank Emirates NBD on personal finance, Daniele Lavalle, head of product development and data operations, AECB, said that in the future, utility bills, rents, and tenancy contacts will also be a major part of the credit score.
Lavalle explained that maintain a good credit score will solve any futuristic loan troubles. He pointed out that the youth of the nation often forget about their credit cards thus obtaining a bad credit score. He urged them to rectify the situation.
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Lavalle also mentioned that the credit history of any UAE resident in their previous country will not be considered while calculating your current credit score with any bank of UAE.
