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THE ECONOMY - FEDERAL CREDIT BUREAU

UAE federal credit bureau scheduled to start in June

Posted on 10/05/2014

The UAE's long-awaited federal credit bureau will start work in June, its chief executive said, providing financial institutions with data on the population in the latest move to limit the risks of a new credit bubble. Until now, banks in the UAE have often been unable to access data on consumers at other financial institutions when making lending decisions. Borrowers could obtain money from many lenders and run up debts they sometimes could not repay. Marwan Lutfi told Reuters in an ...  >>MORE

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