Emirates Banking Federation: "Union for credit information" A basic pillar for sustainable development
Dubai, July 2 / WAM / The Emirates Banking Union stressed the importance of the role played by the “Union for credit information” since its foundation in the development of the banking and financial sector in the UAE and the consolidation of the state’s position as a global financial and commercial center.
The Emirates Banking Union, during the “Promotion of Communication with Partners” forum, which was organized at the Emirates Financial Institute in Dubai, praised the Federation’s credit information initiatives in supporting the sustainable development of the UAE by collecting, analyzing and employing credit information that contributes to the decision -making manufacture according to accurate data and on scientific foundations for individuals and companies.
The Emirates Banking Union renewed its commitment to enhance the strong partnership that started since the Federation of Credit Information, as constructive cooperation contributed to developing solutions and products that suit the requirements of various stakeholders from individuals, companies, institutions and destinations and construction on the strong foundations of the economic, financial and banking system of the UAE to continue development and growth.
Jamal Saleh, the general manager of the Emirates Banking Union, said that the data and accurate information are the basis of development in various sectors, especially the banking and financial sector, and since its establishment, the Federation has been credit information in a major and vital role in economic and social development by providing advanced information and solutions for individuals, banks and financial institutions, where reports, data and studies of credit information have been enabled various stakeholders from making studied decisions and managing risks in a scientific way.
He added that the banking sector managed to establish the UAE’s position as a financial center and a global banking under the supervision and directives of the UAE Central Bank, and our keenness to enhance the partnership between the Emirates Banking Union and the Federation of credit information in the context of our continuous endeavors to provide a smooth and safe banking experience characterized by transparency and competitiveness, and aims to consolidate the economy of knowledge and innovation and employ the latest technologies The continuous growth of customer confidence rates in the banking sector, where the sector recorded a rate of 90% in customer confidence, thus excelling the UAE over many countries of the world developed in the banking and financial field, and the banking sector maintained the first place as the most sectors that have customer confidence in the country.
His Excellency Marwan Ahmed Lotfi, General Manager of the Federation for credit Information, said that the Forum for Promoting Communication with Partners is an important station, and we celebrate the 10 -year anniversary of work in the financial system of the Emirates, explaining that the Federation for credit information worked closely with the banking sector through the Emirates Banking Union, where communication contributed to knowing the requirements of the banking sector in order to develop basic products and innovative solutions to support the sector in continuing success.
We focus on enabling the proactive approach in risk management and ensuring the availability of sufficient information for banks to make sound and studied decisions, and we see that meeting the requirements of partners in the banking sector is a priority, as providing appropriate solutions to keep pace with and support continuous growth and stability is part of the main goals of the entity in supporting the stability of the financial sector in the state.
The UAE Banks and all its members are working in cooperation with the Federation for credit information to enhance the efficiency and safety of the financial and banking system by providing accurate information, data and reports that allow the provision of banking services that meet the requirements of various customers while maintaining the highest levels of transparency, governance and wise management of risks.
The “Forum to Promote Communication with Partners” witnessed a wide participation of the member banks of the Emirates Banking Union, where the most prominent stations of the Federation’s development of credit information were reviewed during the first decade of its career, products and solutions that it provides and its credit evaluation systems.
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