قانون البنوك / التمويل في الإماراتقرار مجلس الوزراء بشأن اللائحة التنفيذية للقانون الاتحادي بشأن المعلومات الائتمانية

Article (1) Definitions Definitions provided in the Federal Law No (6) of 2010 mentioned and amendments thereof shall apply to this resolution, otherwise, the following words and phrases shall have the meanings assigned to each of them, unless the context otherwise requires: Company : Al Etihad Credit Bureau (AECB) Law : Federal Law No. (6) of 2010 Concerning Credit Information, as amended.

Article (2) Scope of Application The provisions of this resolution shall apply to the AECB, the Information Provider, the Information Report Receiver, any person that has a relation with the collection, keeping,

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Cabinet Resolution of 2021 Concerning the Executive Regulations of Federal Law of 2010 Concerning Credit Information 2 analysis, classification, use, circulation and protection of Credit Information and products related thereto and the issuance and regulation of Credit Information report.

Article (3) AECB Exercise of Activity The AECB shall exercise its activities in accordance with the law, this resolution, its articles of association, and the controls issued by the Central Bank in this regard.

Article (4) Obtaining Credit Information Related Reports and Products 1. The following shall obtain the Credit Information Report or products related thereto: a. Federal and local governmental bodies. b. Commercial and specialised banks, investment companies, finance leasing companies and finance companies. c. Companies, individual commercial and professional institutions, and cooperative societies established in the State. d. Branches and representation offices of foreign companies and offices established in the State, and this shall not include foreign front companies (foreign companies that exercise an activity other than their declared one). e. Any person may request the AECB to obtain a…

Article (5) Credit Information Report Request Details The request to issue a Credit Information Report shall contain the following data and information: a. The name of the Information Report Receiver, the address of his head office, and full data on the nature of his activity. b. The name and address of the inquired person, and adequate data on the nature of his activity. c. Evidence of the consent of the inquired person in writing, or by any other legally acceptable means in accordance with the cases stipulated in the law.

Article (6) Credit Report Coverage Duration The Credit Information Report shall cover a period of (3) three years as of the date of its issuance.

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Cabinet Resolution of 2021 Concerning the Executive Regulations of Federal Law of 2010 Concerning Credit Information 4

Article (7) AECB Obligations The AECB shall: 1. Establish a database in which the names and addresses of Information Providers, Information Reports Receiver, and data of both the Credit Record and the Credit Index and all products related thereto and Credit Information Reports, and everything related thereto, and update it periodically. 2. Keep requests for obtaining Credit Information Reports, Credit Index and any products related thereto for a period of no less than (5) five years, as of the date of requests submitting. 3. Keep the Credit Information in its Credit Record for a period of no less than (10) ten years. 4. Take the necessary steps and procedures to link the Central Bank electro…

Article (8) AECB Rights The AECB shall: 1. Provide thereof with Credit Information to prepare and develop its Credit Record database without requiring the person consent; and 2. Request any additional Credit Information from information providers or correcting the Credit Information in the case the AECB discovers on its own that there are errors therein or based on complaints or requests submitted by the relevant persons.

Article (9) Information Provider Obligations Information Provider shall: 1. Verify the validity and accuracy of Credit Information before providing it to the AECB. 2. Prepare the software, technical devices, and human resources necessary to provide the AECB with Credit Information and update thereof periodically according to electronic forms prepared by the AECB, in accordance with the controls issued by the Central Bank in this regard.

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Cabinet Resolution of 2021 Concerning the Executive Regulations of Federal Law of 2010 Concerning Credit Information 6 3. Develop a modern system and provide the necessary human resources to receive and examine complaints and objections to the…

Article (10) Obligations of the Receiver of the Credit Information Report The Credit Information Report Receiver shall: 1. Maintain the confidentiality of Credit Information and what is related thereto and not exchanging, disclosing, revealing thereof except in accordance with the law, this resolution, and the controls issued by the Central Bank in this regard. 2. Not use the Credit Information Report or any of the information contained therein except for the purposes specified in the request submitted by him to obtain that report. 3. Comply with the operational and administrative terms and conditions that the AECB obeys, in accordance with the controls issued by the Central Bank.

Article (11) Credit Information Report Receiver Rights The Credit Information Report Receiver shall: 1. Request to correct the Credit Information contained in the Credit Information Report issued by the AECB, in the case that a request or complaint is received from the inquired person, with evidence and justifications being provided. 2. Request the issuance of a Credit Information Report, Credit Index or any products related thereto from the AECB, in accordance with the controls set by the Central Bank in this regard.

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Cabinet Resolution of 2021 Concerning the Executive Regulations of Federal Law of 2010 Concerning Credit Information 7

Article (12) Inquired Person Rights The inquired person shall: 1. Obtain his prior approval to issue his Credit Information Report, unless the law requires otherwise. 2. Request to correct the errors contained in his Credit Information Report issued by the AECB, providing evidence and justifications. 3. Recourse against any party in the case of publishing or exchanging Credit Information or issuing its Credit Information Reports without obtaining its prior consent, and in violation of the provisions of the law, or publishing or exchanging incorrect or accurate Credit Information about him.

Article (13) Mechanism for Submitting and Examining Complaints Related to Credit Information 1. The Information Report Receiver or the inquired person may submit a complaint to the AECB about any errors contained in the Credit Information Report, provided that the complaint shall be attached by evidence of his claim. 2. The AECB shall receive the complaint submitted by the Information Report Receiver or the inquired person according to the forms prepared by the AECB for this purpose, and it shall ensure that these forms meet all the conditions, requirements and attachments necessary for them. 3. The complaint shall be decided upon in accordance with the controls, procedures, and time periods…

Article (14) What Shall Not be Considered a Confidentiality Rule Providing Credit Information to the AECB in accordance with the law, this resolution and the controls issued by the Central Bank in this regard shall not be a breach of any of the confidentiality rules and provisions.

Article (15) Credit Information Usage by the AECB The AECB may use Credit Information to issue analytical and statistical reports and prepare advisory studies related to the economic and financial sectors and any other sectors related to Credit Information, in accordance with the controls issued by the Central Bank in this regard.

Article (16) Reports and Credit Information Exchange with Parties Outside the State The AECB may exchange reports and credit information for non-nationals with Credit Information Companies and Centres outside the State on the basis of reciprocity principle, subject to the controls issued by the Central Bank and information exchange agreements approved by the competent authorities in the State.

Article (17) Application of the Financial Consideration Table Financial consideration table for Credit Information products attached to this resolution shall be applied as of 01.01.2022.

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Cabinet Resolution of 2021 Concerning the Executive Regulations of Federal Law of 2010 Concerning Credit Information 9

Article (18) Repeals The referred Cabinet of Ministers Resolution No. (16) of 2014 shall be repealed. Any provision that opposes or violates the provisions of this resolution shall also be repealed.

Article (19) Publication and Enforcement This Resolution shall be published in the Official Gazette and shall be enforced as of the day following the date of its publication, subject to Article (17) of this Resolution. Mohammed bin Rashid Al Maktoum Prime Minister Issued by Us: On: 25 Jumada al-Awwal 1443 A.H. Corresponding to: 30 December 2021 AD

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Cabinet Resolution of 2021 Concerning the Executive Regulations of Federal Law of 2010 Concerning Credit Information 1 Financial Consideration Table for Credit Information Products Attached to Cabinet of Ministers Resolution No. (115) of 2021 S Product Financial Consideration Structure Subscribers’ financial consideration (in Dirham…