Tue 08-03-2022 00:34 AM
DUBAI, 6th March, 2022 (WAM) — Dubai National Insurance (DNI) has signed a Memorandum of Understanding (MoU) with Al Etihad Credit Bureau (AECB) on 3rd March, 2022.
The MoU underlines DNI’s commitment to transparency within the financial sector to serve customers better and secure its shareholders’ interests.
AECB collects credit information from financial Institutions such as banks and finance companies and non-financial institutions in the UAE such as telecom operators and large conglomerates – and government entities including courts and water and electricity providers, which is then used to produce Credit Reports and Credit Scores made available to individuals and companies in the UAE.
Abdulla Al Nuaimi, CEO of DNI and Reinsurance PSC, said, “DNI is committed to promoting best practices through critical public sector partnerships to strengthen our financial position and mitigate credit risk exposure. The partnership with AECB is an important step in helping us understand and serve our customers better and help us distinguish service offerings to clients that have a strong credit history.”
Marwan Ahmad Lutfi, CEO of AECB, said, “We pride ourselves in offering timely credit reports that are systematically grounded on transparency, as we believe it to be key for building trust and forging longterm relationships. Our collaboration with DNI is yet another step in that direction. AECB’s expertise in foresighting credit risk will positively resonate with DNI’s customer base, and provide the necessary tools to support greater shareholding interests.”
AECB’s products better help support decisions relating to insurance applications to reward individuals’ and companies’ ability to maintain timely payment schedules and creditworthiness and access the best products and offerings within the industry. DNI can rely on AECB’s reports and scores to assess individuals’ and companies’ financial strength and abilities.
WAM/Amjad Saleh/Hatem Mohamed