Al Etihad Credit Bureau starts issuing commercial credit scores to UAE businesses

The three digit scores — ranging from 300 to 900 — determine the creditworthiness and risks of default of a company. (Reuters)
Updated 02 August 2017
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Al Etihad Credit Bureau starts issuing commercial credit scores to UAE businesses

DUBAI: Al Etihad Credit Bureau on Wednesday said it has began issuing commercial credit scores to businesses in the UAE.
The three digit scores — ranging from 300 to 900 — determine the creditworthiness and risks of default of a company. It is calculated using information from various sources, like banks, finance companies and telecom companies. The higher the score, the lower the risk of default.
“The launch of the Commercial Credit Score will help banks and other commercial lenders to assess the risk from the time of application throughout the entire lending relationship,” Marwan Ahmad Lutfi, chief executive of Al Etihad Credit Bureau said in a statement.
Companies can obtain their credit scores by visiting the bureau’s customer service centers in Abu Dhabi and Dubai, and presenting documents such as the original Emirates ID of company’s owner or the company’s authorized signatory, original trade license, the original articles of association of the company and a valid e-mail address.
A standard commercial report — with no score — costs Dh180, while a report with a score costs Dh220. A credit report for an individual or establishment without a score costs Dh100 while it costs an additional Dh50 to get one with a score. A credit score only, with no report, costs Dh60.
According to international best practices, a good commercial credit score assists small and medium enterprises in accessing the credit market because the analytic and predictive score indicates the likelihood of future default and the effectiveness of current management, the bureau said.


China’s Huawei to launch 5G at Africa Cup of Nations in Egypt

Updated 53 min 42 sec ago
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China’s Huawei to launch 5G at Africa Cup of Nations in Egypt

  • The Chinese firm will introduce the technology at the 74,000-capacity Cairo International Stadium
  • The stadium is set to host 10 games including the final of this summer's Africa Cup of Nations

CAIRO: Huawei will roll out its 5G phone network for the first time during this summer’s Africa Cup of Nations, Egypt’s minister of communications and information technology said on Sunday.

The Chinese firm will introduce the technology at the 74,000-capacity Cairo International Stadium, which is set to host 10 games including the final during the competition.

“Egypt wishes to cooperate with Huawei in the field of artifical intelligence, technology transfer and with 5G,” Amr Talaat said.

Huawei is the leading manufacturer of equipment for next-generation 5G mobile signal with almost instantaneous data transfer that will become the nervous system of Europe’s economy, in strategic sectors like energy, transport, banking and health care.

However, some Western nations have barred it amid fears Beijing could gain access to sensitive communications and critical infrastructure but Huawei denies all these accusations.

The biennial Cup of Nations takes place between June 21 and July 19 in the north African country.

Defending champions and original hosts Cameroon are in a tricky group alongside Ghana, Benin and Guinea-Bissau.

Egypt was awarded the staging rights in January, following the decision to strip Cameroon of the finals due to delays in preparation.