The General Manager of Emirates Credit Information (UAE Credit Bureau), Marwan Latifi, told «Emirates Today» about the launch of a new feature in early 2026, which will allow for credit inquiries between individuals in the country. Latifi stated that the new feature will greatly assist the real estate, employment, and other key sectors, as it enables individuals to assess the financial standing of people they do business with. He added that this will be done through the UAE's digital identity platform (UAE Pass) to obtain reliable credit reports or evaluations from Emirates Credit Information. Latfi explained: «For example, a landlord who wants to rent an apartment can enter the tenant's ID in the (Emirates Credit Information) app to inquire about their credit score. The other party will be notified via (UAE Pass) of the request to view the evaluation, and if the tenant agrees, the landlord can study their financial standing to make a suitable decision». During a press conference at the company's headquarters in Dubai, marking the 10th anniversary of the first credit report, Latifi stated that recent years have witnessed a qualitative leap in operations. The company's database today is one of the cornerstones of the national economy, relied upon by various sectors in the country, from banks and insurance to communications, electricity, and water, as well as numerous federal and local government entities. Latfi pointed out that the «Emirates Credit Information» database includes over 18 million individuals and companies, more than 32 million bank accounts, and over 22 million credit contracts. It is linked with more than 119 data providers, including banks, financial institutions, government bodies, and companies in communications, electricity, water, and courts, among other entities involved in assessing the creditworthiness of individuals and companies. Latifi confirmed that the current figures reflect the significant growth in reliance on the company's services, as the number of annual credit reports and evaluations has increased from around one million at its establishment in 2015 to over 17 million. He explained that the company started by collecting information from banks, then gradually expanded to include communications, electricity, water, and courts, and soon, land departments and «buy now, pay later» companies will be added. Marwan Latfi announced that the company is preparing to launch new initiatives in the real estate and rental sectors next year after completing the verification of information quality and accuracy. The goal is to build a more comprehensive data system to assess credit behavior accurately and effectively. He noted that the focus in the next phase will be on sectors parallel to the banking sector, such as real estate, insurance, and retail, in addition to emerging sectors like alternative finance and peer-to-peer lending, which will be crucial in supporting financial inclusion. Latfi also announced the launch of the third version of the credit score in cooperation with the Central Bank and the UAE Banks Federation by the end of June 2026. The new version aims to improve the positive credit behavior of individuals. He clarified: «If an individual defaults on more than three consecutive payments, they can get out of the default status within six to nine months, compared to two full years previously, and adjust their credit score in less than a year». Latfi explained that the current credit score is based on more than 2,000 variables according to precise algorithms, with results ranging between 300 and 900 points. The score starts at the highest, and points are deducted gradually based on credit behavior, such as late payments, number of installments in default, and debt-to-income ratio. He stated that the new system will allow users to know the exact reasons for their score change through the company's digital platform and smart application. Latfi added that through data analysis, the company has been able to predict 70% of default cases before they occur using advanced analytical models based on data correlations across various sectors. Regarding individuals' financial behavior, Latfi said that the current focus is on enhancing credit and financial awareness among the population, noting that the current rate of viewing credit reports is 10%, with the target being to increase it to about 70% in the coming years. Marwan Latfi: 'The new feature greatly helps individuals assess the financial standing of people they deal with. The company issues 17 million credit reports annually, compared to one million in 2015.'
