Etisalat and du, the two largest telecom operators in the UAE, will rely more on the Al Etihad Credit Bureau (AECB) credit reports and scores when onboarding new postpaid customers and device purchasers.
Fahad Al Hassawi, du’s Acting Chief Executive Officer said: "By utilizing Al Etihad Credit Bureau’s products, we are given visibility on key data to help us mitigate risks to protect not only our shareholders but our customers and extended stakeholders as well."
This is vital in order to assess the individual’s or company’s ability to meet future telco-related payments based on past payment behavior. Etisalat and du are known to provide outstanding bills and payment history on a regular basis on individuals and companies in the UAE to AECB. In fact, both telecom operators have been working with Al Etihad Credit Bureau for the past four years.
Khaled ElKhouly, Chief Consumer Officer at Etisalat also commented: “Today’s announcement reiterates our commitment to sustainably manage the expectations of all our stakeholders and customers across verticals.”
In detail, AECB collects credit information from banks, finance companies, telecom operators, water and electricity companies, and courts which enable them to generate Credit Reports as well as form the basis for predictive and analytics products such as the Credit Score.
Ahmad Lutfi, CEO of AECB stated: "With both Etisalat and du historic and current bill payment information submitted to AECB, it is now critical for both individuals and companies to maintain timely payment schedules and avoid defaults as essential telecommunications services payment patterns are going to show on credit reports and will undoubtedly impact one’s creditworthiness and ability to avail the attractive products and services offered within the industry."