RELATED: Why is it important to have a good credit score?
I had a credit card with a local bank from 2007 to 2010. In the middle of 2010, I decided to close the card and made the final payment on it.
In May 2019, I learnt through the Al Etihad Credit Bureau that there was an outstanding balance against my name for Dh3,404 ($926.88) and my status was in default. This came as a shock to me because in February 2019, when I accessed my credit report, there was no mention of this.
After repeated attempts to reach out to the bank, a representative from its collections department called me and said that according to their records, the card was never closed and this amount was pending from that time.
I asked them why I was not contacted before they added the default against my name with the AECB and their response was that they tried but could not reach me.
I agree that I changed my phone number in 2011, but that means they did not try immediately after I closed the card.
I am also unable to find the clearance letter they gave me 10 years ago to confirm the credit card had been closed and nothing was owed on it.
The bank asked me to pay the Dh3,404 immediately, which I did on April 19, and I collected a clearance letter on April 27.
However, my name is still tarnished. What should be my next step be to get the AECB default status reversed against my credit score? GP, Dubai
Debt panellist 1: Steve Cronin, founder of DeadSimpleSaving.com
The arrival of the AECB has shone a light on the data kept by banks and utilities companies. Any mistake would become very noticeable when the person checked their credit score.
Mergers and system upgrades over time can complicate matters, with old records of numbers, customer letters and actions becoming lost.
Old cards that were not a priority for a bank or customer could thus re-emerge, zombie-like, to bite you when the credit score system made them important again. This default will stay on your credit score for five years.
The biggest issue you will face is your lack of a clearance letter from 2010. Do you at least have a card and/or bank account statement from that time, showing you made the final payment?
We should all learn from this and follow best practice to ensure that clearance letters from banks are stored in a safe place:
- Make sure you get a clearance letter whenever you close a credit card, loan or account.
- Adopt the mindset that this closure could be disputed in the years to come.
- Keep physical and electronic copies for decades as important documents. It is not that hard to create a file to store such documents. If you don’t store them together, I guarantee they will be lost.
You are lucky the amount on the card was small enough to be an annoyance rather than a disaster.
It would have been hard to get the amount waived. Ideally, you would have asked the bank in April to reverse the default as a condition of you paying the debt off. Now there is not much reason for them to do anything for you.
Raise a data correction request on AECB's website and follow up after 10 working days if you don’t hear anything. Once you have submitted your request, you should call or visit your bank, make them aware that you have submitted the AECB request and insist that they remove the default.
If the bank refuses to approve the data correction, then you can appeal to the AECB by calling them on 800 287 328.
Be prepared to not make much progress with your bank and have your borrowing restricted as a result. Ensure this bank is not your only bank in the country in case the relationship deteriorates further.
Debt panellist 2: R Sivaram, executive vice president and head of retail banking products at Emirates NBD
I would recommend that you reach out to a senior officer at the bank and share full details of the case, including the fact that until February 2019 the card you are referring to was not reflected in your credit report.
In addition, you could approach AECB and explain your situation to them. Given that they would have history of your credit performance over time, they could potentially help you resolve this with your bank.
Raise a data correction request on AECB's website and follow up after 10 working days if you don’t hear anything
Steve Cronin,
founder of DeadSimpleSaving.com
The AECB report from February 2019 may help you in your discussion with the bank and the bureau.
In the future, it is important that you retain all important correspondence with your bank, including clearance letters.
The best solution would be to try to work with the bank and AECB to clarify to all concerned parties what actually happened.
I hope this will clear your name and if the balance was unfairly collected from you, it should be refunded.
Debt panellist 3: Carol Glynn, founder of Conscious Finance Coaching
This must be a very frustrating situation to be in. Have you visited your branch in person and spoken to a senior bank official? It is always more fruitful than phone calls.
If you received a clearance letter from the bank when you closed the credit card, you could consider lodging a complaint with the Central Bank of the UAE. However, your case will be weakened as you have no written proof from the bank that the card was closed and all dues were paid.
If you decide to submit a complaint, provide all documentation you do have, such as details of conversations and any other relevant information.
You are required to first lodge a formal complaint with your bank in writing (the bank will have its complaints email listed on the website) and wait 30 days.
As part of your complaint, you should request that the Dh3,404 you recently paid be reversed and their records are updated to reflect the fact you cancelled the card.
If you have not come to a satisfactory conclusion after 30 days, you can then raise your complaint with the central bank.
It will also be difficult to have your default status reversed on your credit score as to do this you would need confirmation from the bank that the information they provided to AECB was incorrect.
You may not be able to reverse your credit history but you can improve it by ensuring that you pay all your dues and bills on time and in full.
If you do this diligently, you will see an improvement in your score but it may take at least a year to see a material difference.
This is an important lesson in ensuring we keep up to date with our credit reports as this situation occurs more frequently than you may expect.
The Debt Panel is a weekly column to help readers tackle their debts more effectively. If you have a question for the panel, write to pf@thenational.ae
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Three ways to get a gratitude glow
By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.
- During your morning skincare routine, name five things you are thankful for about yourself.
- As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
- In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.
Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
LA LIGA FIXTURES
Friday (UAE kick-off times)
Levante v Real Mallorca (12am)
Leganes v Barcelona (4pm)
Real Betis v Valencia (7pm)
Granada v Atletico Madrid (9.30pm)
Sunday
Real Madrid v Real Sociedad (12am)
Espanyol v Getafe (3pm)
Osasuna v Athletic Bilbao (5pm)
Eibar v Alaves (7pm)
Villarreal v Celta Vigo (9.30pm)
Monday
Real Valladolid v Sevilla (12am)
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
UAE currency: the story behind the money in your pockets
