Including “Pensions” and “NAFS” data in individuals’ credit reports

Al-Etihad Credit Information Company announced the inclusion of documented data from the General Pensions and Social Security Authority and the “Nafis” program within its credit information services, which contributes to strengthening income assessment mechanisms and expanding the scope of information available in individuals’ credit reports.
The digital link between Al-Ittihad Credit Bureau, the General Pensions and Social Security Authority, and the “NAFES” program aims to create an integrated system for the flow of financial and credit information and government support data, and to benefit from the exchange of data and analyzes that are in line with national priorities by integrating financial and credit data with government support data, and adhering to the highest standards of data security and transparency.
These joint updates give lenders a comprehensive and accurate view of the documented income of individuals, and calculating the pension income and the support applied from the “Nafis” program in addition to the salary may reflect more positively on the assessment of the percentage of use of income, which may contribute to improving the opportunities of individuals who qualify for obtaining a wider range of products and financing facilities.
The Director General of Al-Ittihad Credit Bureau, Marwan Ahmed Lutfi, said: “Including documented data from the General Pensions and Social Security Authority and the (NAFES) program in our credit information products represents an important step towards strengthening income assessment mechanisms. “By calculating the pension income and Nafes program support amounts, in addition to the current monthly salary, financial institutions can form a more comprehensive picture of the individual’s ongoing income, and make informed credit decisions based on more accurate information, which contributes to enabling financial institutions to study the eligibility of Emirati citizens to access financial products and facilities based on a more comprehensive understanding of their documented income.”
For his part, Director General of the General Pensions and Social Security Authority, Firas Abdul Karim Al Ramahi, said: “Cooperation with (Al-Ittihad Credit Bureau) represents an important step towards enhancing institutional integration and data exchange in a way that supports information-based decision-making. The Authority believes that using and analyzing data in partnership with the competent national authorities contributes to understanding citizens’ needs more comprehensively, and developing policies and services that support their financial stability and enhance their readiness for the future, in line with the state’s directions towards building an integrated and sustainable system for social protection and financial empowerment.”
In the same context, the Secretary-General of the Emirati Talents Competitiveness Council, Ghanam Butti Al Mazrouei, stressed the importance of this partnership, saying: “Our cooperation with (Al-Ittihad Credit Bureau) reflects our joint commitment to supporting Emirati talents by improving the quality of financial and credit data, which contributes to enhancing financial transparency and analyzing the impact of competing support on the financial stability of beneficiaries.”
He added: “Including (NAFES) support data in the credit reports of financial institutions provides a clearer view of the financial conditions of citizens, which helps in providing accurate assessments of their ability to pay financial obligations. We look forward to the role of this cooperation in enhancing our joint efforts to support our national cadres.”