Money Guide for Expatriates in the UAE Bringing Your Credit History to the UAE: A Guide for New Expats

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If you're a newcomer to the UAE, establishing financial credibility can be challenging. Fortunately, the Al Etihad Credit Bureau (AECB) offers a solution through its Foreign Credit Report service, enabling you to leverage your international credit history.


What Is a Foreign Credit Report?

A Foreign Credit Report translates your credit history from specific countries into a format used by lenders in the UAE. This service, provided by Nova Credit, enables banks and financial institutions in the UAE to evaluate your creditworthiness based on your past financial history abroad.


Why Is It Important?

  • Faster Access to Credit
    Your existing credit history can expedite loan, mortgage, or credit card approvals.
  • Better Financial Terms
    A strong foreign credit profile may qualify you for lower interest rates and better loan conditions.
  • Enhanced Financial Inclusion
    It helps you integrate into the UAE's financial system without having to start from scratch.

How to Use Your Foreign Credit History in the UAE

  • Apply for Credit
    When applying for a loan or credit card, inform the lender about your foreign credit history.
  • Provide Consent
    You'll receive an email requesting permission to access your international credit report.
  • Report Retrieval
    Upon your approval, Nova Credit retrieves and translates your credit data into a UAE-compatible report.
  • Lender Assessment
    The translated report is shared with your lender to help with their credit evaluation process.

Participating Countries

As of now, the service includes credit histories from countries:

  • United Kingdom
  • India
  • Philippines
  • Australia
  • Germany
  • South Korea
  • Spain
  • Switzerland
  • Ukraine
  • Kenya
  • Mexico
  • Dominican Republic
  • Austria

Tips for Managing Your Credit in the UAE

  • Maintain Timely Payments
    Ensure all your financial obligations are met promptly to build a positive credit history.
  • Monitor Your Credit Report
    Regularly check your AECB credit report for accuracy.
  • Understand Local Credit Practices
    Familiarize yourself with the UAE's credit system.

For more information on obtaining your Foreign Credit Report, visit the AECB's official website.

By leveraging your international credit history, you can seamlessly transition into the UAE's financial landscape, making your relocation smoother and more financially secure.

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