With the Covid-19 pandemic affecting salaries and jobs across the globe, it’s very important that residents in the UAE stay on top of their finances and in turn their credit score.
The Central Bank of the UAE's Dh256bn Targeted Economic Support Scheme helps lenders handle problem debts during the pandemic, with many residents receiving payment holidays on credit facilities such as loans and mortgages.
Now as the economy starts to open up, those who have lost their job or are struggling financially may need to rein in their spending, particularly if they are burdened with debts they cannot repay.
The first step towards resolving any debt challenge is to download a copy of your credit report from the Al Etihad Credit Bureau. Set up in November 2014, the bureau brings transparency to the lending industry by assembling a credit record of the nation’s financially active residents.
AECB later launched credit scores for individuals – a three-digit number between 300 and 900 that represents a borrower's creditworthiness.
So why is this number important for borrowers to know – particularly in the current climate? How do you find out what it is? And how can you improve your score?
Host Alice Haine, the personal finance editor of The National, is joined by Marwan Lutfi, the chief executive of Al Etihad Credit Bureau, who explains everything listeners need to know about credit reports and scores in the UAE.
Listen to last week's episode for advice on how new graduates can launch their careers amid Covid-19
Hamilton’s 2017
Australia - 2nd; China - 1st; Bahrain - 2nd; Russia - 4th; Spain - 1st; Monaco - 7th; Canada - 1st; Azerbaijan - 5th; Austria - 4th; Britain - 1st; Hungary - 4th; Belgium - 1st; Italy - 1st; Singapore - 1st; Malaysia - 2nd; Japan - 1st; United States - 1st; Mexico - 9th
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
