Al Etihad Credit Bureau’s credit reports will now include an expense-to-salary ratio (ESR) as it seeks to offer more insight into the creditworthiness of potential borrowers in the UAE by assessing their non-banking monthly payment obligations.
The ESR will be indicated as a percentage ranging from zero to 100 and represent a person’s financial obligations as share of their salary, the regulator said on Friday.
It will take into account active loan instalments, credit card limits and monthly telecoms and utility bills, the AECB said.
“Credit reports are a direct reflection of an individual’s appeal and payment behaviour to lenders like banks and financial institutions, but are also as important for other entities such as property managers and telecom service providers,” said AECB chief executive Marwan Lutfi.
“The addition of the ESR to the AECB reports is a natural step in our ongoing path towards generating data-driven insight for lenders to assess the creditworthiness of individuals, while taking into consideration their regular non-banking monthly payment obligations, such as utility bills and telecommunication bills.”
Set up in November 2014, the bureau brings transparency to the lending industry by assembling a credit record of the UAE’s financially active residents. It collects data such as loan, mortgage, credit card and phone bill payments.
An individual’s credit report documents their entire credit history in the UAE, showing the credit cards, loans or other finance products they have signed up for, along with their payment behaviour.
Therefore, bounced cheques and any payment defaults will be recorded. The document also lists a person's full name and Emirates ID number.
A UAE resident's report is generated only when they have a credit card, loan, mortgage or a phone bill. The AECB collects data from banks, finance companies and telecom companies.
A credit score for individuals is a three-digit number between 300 and 900 that represents a borrower’s creditworthiness and how likely they are to make credit card or loan payments on time. A low score indicates they are a higher risk for a lender while a higher score indicates a lower risk.
The new ratio will indicate a potential borrower’s total obligations as a share of their reported monthly salary, the credit bureau said.
Banks provide an individual’s salary details as part of regular data submissions to the AECB.
The feature will serve as an “additional parameter in assessing creditworthiness and affordability for individuals and banks alike”, the credit bureau said.
“ESR not only provides banks and credit report users with insights on the individual’s spending behaviour, but is also a barometer for individuals themselves that will allow them to gauge their own spending habits and — hopefully — consider a more financially responsible alternative should their ESR be less than ideal,” Mr Lutfi said.
Meanwhile, AECB’s ChequeScore service, which allows businesses and people to instantly assess the risk of a cheque bouncing, is now live on the credit bureau’s website.
ChequeScore, which covers cheques issued by UAE-licensed banks and calculates the issuer’s credit score, payment behaviour, issuance frequency and clearance history in real time, was unveiled as an app in February.
“It serves to lower the number of bounced cheques and provides a push for financial accountability,” the credit bureau said.
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UAE salary guide 2022
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
UAE currency: the story behind the money in your pockets
2024%20Dubai%20Marathon%20Results
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Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
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The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
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
Huroob Ezterari
Director: Ahmed Moussa
Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed
Three stars
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
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SPECS
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'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal
Rating: 3.5/5
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