Global Outlook

 UAE expatriates will soon be able to obtain "Credit Passports" thanks to a new partnership. Tuesday saw the announcement of a strategic partnership between the top consumer-permission credit bureau in the world, Nova Credit, and Al Etihad Credit Bureau (AECB). The change will allow newcomers to use their credit history from their home country when applying for financial services once they arrive in the UAE. For AECB users, Credit Passport is currently available to support credit applications with history in nations including India, the Philippines, and the United Kingdom, with other nations to follow soon. According to Marwan Ahmad Lutfi, CEO of AECB, AECB is one of the first governmental organizations in the area to offer cross-border credit solutions, adding value for lenders, borrowers, companies, governments, and the general public through significant partnerships with foreign bureaus. In keeping with the UAE's goal of being the epicenter of a borderless global econ...