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Emcredit launches new information reporting tool.

Dubai: Emcredit, the UAE's first private credit information services See Information Systems.  company, on Saturday announced the launch of a new information reporting tool that provides comprehensive business information for the verification of commercial entities registered in the UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. .

The online solution, Enterprise Information Report (EIR EIR n. popular acronym for environmental impact report, required by many states as part of the application to a county or city for approval of a land development or project. (See: environmental impact report) ), serves as a vital reference tool for assessing and validating the general, legal and background information of businesses. The new report aims to support business partnerships, promote transparency and boost confidence in day-to-day commercial decisions.


The EIR is available to financial institutions, small and medium-sized enterprises (SMEs), trade associations and other commercial entities that register with Emcredit. Banks and other financial institutions can check the authenticity of information provided by a prospective corporate customer before offering products, services or credit to them.

In addition, EIR will provide information on potential UAE trade partners available to companies outside the UAE. The report enables other companies to gain insight into potential business partners and check their background before conducting any business transaction.

A wide range of information is provided in the EIR, including trade and licence data, legal constitution, penalties, company relationships with stakeholders Stakeholders

All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government.
, and other historical and relevant information. The official launch of EIR coincides with the Business in Dubai conference, scheduled for November 10-11.

Cross-border trade

"Choosing potential partners, extending credit to companies, identifying vendors, proposing business deals - for all these decisions, it is important to verify the background of companies and their soundness. The EIR provides a convenient one-stop point for verifying such information," said Zaid Kamhawi, Chief Business Officer, Emcredit.

"Cross-border trade is the engine of the UAE economy, and EIR will support such trade by empowering companies outside the UAE when selecting trade partners here. By helping companies make more informed decisions, EIR is crucial for doing business with greater confidence and ease."

Kamhawi added that EIR sources its information from government ministries, commercial registries and economic departments.

This ensures the authenticity and timely updates of the report details.

Since its inception in 2006, Emcredit has signed several agreements with leading financial and non-financial institutions to enrich its database. Some of these include Citibank, Dubai Islamic Bank The Dubai Islamic Bank is an Islamic bank in Dubai, established in 1975. Financial Information

Figure 2004 2003 2002

Total Assets 30,613,361 22,778,319 19,587,790
Shareholder's Equity 2,687,419 1,548,180 1,473,986
NIAT 461,003 234,456 159,798
, Dubai Bank Dubai Bank is a banking company, launched in September 2002, and part of the Dubai Holdings group. On January 1, 2007, the Bank became a Shari’a compliant financial institution with a focus on the UAE’s Islamic banking sector. External links
  • www.
, Noor Islamic Bank, Amlak Finance, Better Homes as well as government departments such as Dubai e-Government, Dubai Police, Dubai Public Prosecution and an exclusive agreement with Dubai Land Department's Real Estate Regulatory Authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest
regulatory agency

administrative body, administrative unit - a unit with administrative responsibilities
 and UAE Ministry of Interior.

Al Nisr Publishing Al Nisr Publishing is a company based in Dubai, UAE. The company is a part of Al Tayer Group. It was established in 1985 by Obaid Humaid Al Tayer, Abdullah Al Rostamani and Juma Al Majid. It employs 1,050 people and has branches in Manilla, Bahrain, Abu Dhabi and Sharjah.  LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 2007. All rights reserved.

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Publication:Gulf News (United Arab Emirates)
Date:Nov 9, 2008
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