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Soon… rent obligations and home loans will be added to credit reports



Soon… rent obligations and home loans will be added to credit reports

Al-Etihad Credit Information Company said it is in talks with several companies, led by real estate departments and municipalities, to join the list of credit information providers in the country for the purpose of adding information on rental obligations, in addition to housing companies. It is concerned with providing home loans to citizens.

The company’s CEO, Marwan Ahmed Lotfy, said, “Currently the number of customers registered with the company, including existing and old customers, individuals and companies, has reached 14 million distributed between 12.7 million individuals and 1.3 million companies.”

In an interview with Emirates News Agency (WAM), Ludfi ​​added that the number of active individuals receiving financial facilities or loans from banks reached more than 3.2 million people, while the number of companies receiving credit facilities from banks exceeded 153,000 companies.

Rent and housing

Ludfi ​​expected some companies’ rental obligations to be added to credit reports early next year: “We are also looking at companies that provide housing loans to citizens in the country, such as the Sheikh Zayed Housing Project, the Mohammed Bin Rashid Housing Authority and the Abu Dhabi Housing Authority and the Sharjah Housing Project.

He stressed the importance of providing credit information from housing authorities as it would simplify the system for calculating the commitment rates in accordance with the Central Bank’s directives. The information appears on credit reports.

bad loans

Several weeks ago, Lutfi revealed that the names of beneficiaries of troubled debt treatment funds were added to appear on their credit reports, helping banks and increasing the central bank’s ability to enforce rules and regulations.

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He said: “We have worked with the company in the past with the central bank in relation to funds covering the loans of some citizens,” he explained. “This is unhealthy and burdensome, especially since central bank regulations prevent banks from extending loans to beneficiaries of the support for a four-year period,” reports said.


Regarding the companies that provide credit information to Al-Ittihad, Ludfi ​​said: “Initially, banks and financial institutions were the most important target companies, and then we introduced information related to telecommunications companies that provide us with information about accounts. Corporations and individuals, then courts.”

He added: “Electricity and water companies play an important role in providing credit information, and now we have Abu Dhabi and Al Ain Distribution and Al Etihad Water and Power. We are currently in talks with the Dubai Electricity and Water Authority (DEWA). Sharjah Electricity and Water Authority (SEWA), and we look forward to partnering with all relevant parties to develop indicators of availability of financial obligations, as financial obligations of any person or entity are not limited to banks.

Real estate sector

Lutfi indicated that the company will release more specialized indicators in the coming period, including indicators dedicated to the real estate sector, landlords, insurance companies and others.

He said, “Credit reports and assessments are not expensive to provide, as the cost of an assessment for subscribers is less than five dirhams and can reach half a dirham, while the cost of reports starts at 30 dirhams, but goes down to 10 dirhams depending on the amount of reports requested by each party.” .

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Regarding the analytical reports provided by the company to the banks operating in the local market, Lutfi pointed out all the major banks, whose costs start from 10 thousand dirhams and reach 200 thousand dirhams, depending on the bank, its customer base and its facilities. Get this service in the country.

Foreign reports

Regarding credit reports from abroad, he pointed out that this is a service launched this year for the company’s subscribers, so the bank can request an external credit report for a customer who has recently resided in the country and wants to get a credit facility.

He explained that the bank needs approval to obtain external credit reports of customers from some countries, pointing out that customers from 10 countries have access to the service: Australia, India, Kenya, South Korea, Mexico, Nigeria and the Philippines. , with the company planning to expand its list to include Spain, Switzerland and the UK in the coming period.

Credit rating

Al-Etihad Credit Information Company provides credit rating and reporting services to individuals and companies. The report contains all credit information in detail, while the credit rating is represented by three numbers, which indicate the degree of probability that the individual or company will fail. It must pay its financial obligations on time within the next 12 months. Distributors can choose between a minimum rating of 300 points and a maximum of 900 points.

• 14 million customers registered with Al-Etihad Credit Bureau.

• The number of personal loan borrowers from government banks reaches 3.2 million customers.

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Robert Kennedy Jr. decided to run as an independent in the US presidential election



Robert Kennedy Jr. decided to run as an independent in the US presidential election

US presidential candidate Robert Kennedy Jr. will announce his candidacy as an independent instead of continuing his long-running bid to defeat President Joe Biden as the Democratic nominee, complicating next year’s presidential election.

Kennedy, an anti-vaccination activist and member of a famous American political family, posted a video on YouTube on Friday asking Americans to join him in a “major announcement” in Philadelphia on October 9.

He said he would talk about a radical change in American policy.

Kennedy is the nephew of former President John F. Kennedy, who was assassinated in 1963, and the son of former U.S. Senator Robert Kennedy, who was assassinated during his 1968 presidential bid.

In April, Kennedy said he would challenge Biden to run for the Democratic nomination against the expected Republican nominee, former President Donald Trump.

Since then, Kennedy has complained that the Democratic Party has “basically blended together” with the Biden campaign, which has cost him a fair chance in the nomination race.

Many polls have Biden ahead of Kennedy.

Kennedy’s plan to run as an independent was first reported on the political website Mediaite.

In response to an emailed question from Reuters about the report, the Kennedy campaign responded by sending out its own video.

Democrats worried that any effort by a third party could shift votes away from Biden.

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Only since the beginning of this year… has the UN been concerned about migrants trying to cross the “death trap”.



Only since the beginning of this year… has the UN been concerned about migrants trying to cross the “death trap”.

More than 2,500 migrants have died or gone missing trying to cross the Mediterranean Sea to Europe since the start of 2023, an official from the United Nations High Commissioner for Refugees announced on Thursday.

“As of September 24, more than 2,500 people are dead or missing,” said Rubin Menegtivela, director of the UNHCR office in New York, during a Security Council meeting dedicated to the migrant crisis in the Mediterranean. That represents a nearly 50 percent increase compared to “1,680” people during the same period in 2022.

“Without public opinion, lives are being lost on the ground,” he asserted.

He pointed out that “the journey to West or East Africa and the Horn of Africa and Libya and the starting points on the coast is one of the most dangerous journeys in the world.”

He added, “Refugees and migrants traveling overland from sub-Saharan Africa face the risk of death and serious human rights violations at every step.”

According to statistics announced by Ruffin Minisdiola, between the beginning of the year and September 24, 2023, a total of 186,000 migrants arrived in Southern Europe (Italy, Greece, Cyprus and Malta), including 130,000 for Italy, “an increase of 83 percent compared to the same period in 2022.

In terms of countries of departure, between the beginning of the year and August 2023, more than 102,000 migrants tried to cross the Mediterranean Sea from Tunisia, and 45,000 from Libya.

Of this number, 31,000 were rescued at sea or intercepted and disembarked in Tunisia, and 10,600 are in Libya.

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Referring to the recent influx of large numbers of migrants to the Italian island of Lampedusa, the official stressed that “Italy cannot respond alone to the needs” of these migrants.

UN refugee agency to “establish a regional mechanism for the evacuation and redistribution” of migrants arriving by sea. Menaktivela reiterated the High Commissioner’s call, which raises disagreements among EU member states.

For his part, Russian Ambassador to the United Nations Vasily Nebenzia, who requested the meeting, denounced the EU for its role in the “death trap” in the Mediterranean.

The ambassador said: “We have the impression that the European Union is waging an undeclared war against migrants because they have no other, safe route.”

“The European Union only cares about the migration issue when it comes to Ukrainians,” Nebenzia added, expressing her regret that other migrants do not enjoy “the same level of solidarity”.

As for French Ambassador Nicolas de Riviere, referring to Russian contributions to UNHCR’s budget, he said, “Russia is not, as always, when it comes to responding decisively to humanitarian crises.”

He added, “Wagner’s presence in the Sahel region contributes to the instability of the region, which fuels terrorism and leads to the migration of residents.”

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US punishes former Sudanese foreign minister



US punishes former Sudanese foreign minister

On Thursday, the United States imposed sanctions on former Sudanese foreign minister Ali Karti, one of which was based in Russia, and accused him of exacerbating instability in Sudan, where fighting has claimed thousands of lives and displaced millions of civilians. ..

The move is the latest round of sanctions imposed by Washington since fighting broke out in Sudan in mid-April between the military and Rapid Support Forces..

Brian Nelson, the Treasury Department’s undersecretary for terrorism and financial intelligence, said in a statement that “the action will be held accountable for those who undermined efforts to find a peaceful and democratic solution in Sudan.”

He added: “We will continue to target those who work to perpetuate this conflict for personal gain.”

The Treasury Department said it targeted Karti, who was foreign minister under former President Omar al-Bashir, noting that Karti became head of the Sudanese Islamic Movement after al-Bashir was ousted in 2019..

Karti has been a prominent figure among the veterans and loyalists of Bashir’s regime since the Sudanese army seized power in 2021 and overthrew the civilian area..

The Treasury Department added: “(Karthi) and other Sudanese militants are actively obstructing efforts to reach a ceasefire to end the current war.”

Also sanctioned was Sudan-based GSK Advance, which the Treasury Department said was used as a procurement vehicle for Rapid Support Forces..

The company is said to be coordinating with Russia-based military supply company Avia Trade, which has been targeted by sanctions, to arrange for the purchase of spare parts and supplies for drones previously purchased by Rapid Support Forces. Training work..

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US Secretary of State Anthony Blinken said in a separate statement that Washington moved this week to impose visa restrictions on people it considers part of efforts to undermine the democratic transition in Sudan..

The new sanctions come after actions taken against the deputy commander of the Rapid Support Forces this month and sanctions imposed by the US in June on companies accused of fueling the conflict..

The measure freezes the assets of targeted individuals in the U.S., generally prevents Americans from doing business with them, and also exposes those who engage in certain transactions with them to economic sanctions..

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