Credit Information Agency Publishes 17 Million Annual Credit Reports and Assessments

Al Ittihad Credit Bureau, the UAE's main credit reporting agency, has grown from issuing 1 million credit reports in 2014 to over 17 million reports annually today. The company now connects with 119 data providers across banks, government agencies, telecom companies, utilities, and courts to build comprehensive credit profiles for individuals and businesses.

Marwan Ahmed Lutfi, the bureau's CEO, announced these figures during a press conference marking the 10th anniversary of the UAE's first credit report. The expansion reflects growing financial awareness in the country - about 10% of UAE residents now regularly check their credit reports and scores.

The bureau is adding "buy now, pay later" companies to its data network soon. This move comes as alternative lending grows popular among younger consumers who often bypass traditional banks for smaller purchases and short-term credit.

Here's what makes this growth significant: The UAE started building its credit infrastructure relatively recently compared to markets like the US or UK. Before 2014, banks had limited ways to assess borrower risk beyond their own customer data. Now they can see a person's full financial picture across multiple sectors.

The system currently holds 32.6 million bank account records. All transactions happen digitally since the bureau went fully electronic in 2018. This speed helps banks make lending decisions faster while reducing defaults through better risk assessment.

For the broader economy, comprehensive credit data helps the UAE score better on the World Bank's "Getting Credit" index, which measures how easily businesses and individuals can access loans. Better scores attract international investment and make the financial system more competitive globally.

The bureau made credit reports available through government portals "Tam" and "Dubai Now" in 2024. Residents can now access their credit information instantly using their digital ID, removing the need to visit offices or wait for mail delivery.

Looking ahead, the company plans three major changes for its second decade. First, a new mobile app launches in 2025 with better user experience and financial education tools. Second, they're adding real estate obligations to credit assessments, which matters in a country where property investment is common. Third, they're expanding beyond banks to include insurance companies and other non-bank lenders in their data collection.

The bureau will also release version three of its credit scoring system by mid-2025. This update uses more behavioral indicators to give lenders deeper insight into borrower risk patterns. The new scoring considers payment timing, account usage patterns, and financial relationships across different sectors.

For consumers, this means credit decisions will become more nuanced. Someone who pays utility bills on time but struggles with credit cards might get different loan terms than someone with the opposite pattern. The system aims to reward responsible financial behavior across all areas, not just traditional banking.