Banks are satisfied with the credit report as an alternative to the “salary certificate” to grant loans

Local banks have strengthened the facilities of opening the bank account for the first time, or the transition between one bank to another, or obtaining any loans or financing, by being satisfied with the credit report as one of the alternative options for the “salary certificate”, as well as the use of the central bank’s platform when opening a new account , Or obtain an account statement for any number of months.

Bankers told «Emirates Today» that the banks began to facilitate the dealers, by sufficiency in the details of the credit report as an alternative to the salary certificate, as the report shows the employer, the value of the salary, the value of the monthly installments and deductions, as well as the credit evaluation number, and other data that is sufficient The decision to grant financing from its rejection.

They revealed that artificial intelligence applications will accelerate many of the stages of approvals on funding, at a time when it is expected that this year will witness radical changes in how to complete the stages of transactions and banking approvals, all the way to final approval.

Banking facilities

The banking expert, Awatif Al -Harmoudi, told «Emirates Today»: “All the salaries of employees in the country pass through the central bank platform for financial transfers, so banks have facilitated the procedures for their customers, and dispensed with a request for a bank account statement, in the event that the customer requests to open an account for the first time in Another bank, or he wanted to obtain a car financing, or a credit card from a bank other than the original bank that he deals with, by withdrawing its salary data or detecting the account for three, six months or more, as required.

Al -Harmudi added: “One of the important facilities that a number of banks began to implement: sufficiency in the details of the credit report, as an alternative to the customer’s salary certificate, as the workplace appears in the report, the value of the salary, the value of the monthly installments and deductions, as well as the credit evaluation number, and other data It is sufficient for the decision to grant financing from its rejection. ”

Al -Harmudi emphasized that artificial intelligence applications also would soon provide more facilities. She said: “Indeed, some banks have started trying more than one thing, and we are waiting for the light to see soon, and contribute to more speed to the completion of banking transactions.”

Credit

For his part, the banker Mustafa Ahmed said: “The credit report and its details are an option for banks, and it can be satisfied with it instead of the salary certificate.

He added: “The details of the credit report show the credit wall of the customer, and help management of the right decision,” noting that “artificial intelligence applications will accelerate a lot from all stages of approvals on funding, at a time when it is expected that this year will witness radical changes in how to complete stages Banking approvals to the final approval.

An additional option

In the same context, the banker Ahmed Salem said: “The banks use the central bank’s platform to know the customer’s salary when opening the bank account when moving to a new bank other than the bank that was dealing with it, and also when obtaining financing from the new bank, and all of this summarizes the time and facilitates the procedures On the customer. ”

He continued: «It is true that the customer can obtain an account statement through the smart application of the bank that he deals with, but the central bank platform is available around the clock, and the bank can benefit from it in knowing the customer’s income and the number of salaries that it has received since his appointment, and other things, and all this It speeds up the procedures for granting financing. ” Salem stressed that «the credit report also explains the customer’s salary and deductions, the workplace, and the banks that they deal with in the past, and other matters», pointing out that some banks considered the report an additional option as an alternative to the salary certificate issued by the employer, and these are all facilities that are poured into Customer interest.

Credit information

The “Union for credit Information” is a public joint stock company fully owned by the federal government, and was established in 2012 to collect credit information from financial and non -financial institutions in the country, and it analyzes and tabs this information and its use to issue reports and credit assessments of individuals and companies in the country.

The credit evaluation is a triple number that indicates the extent to which the individual or the company may falter by paying the financial obligations on the specified date during the next 12 months, and the evaluation of customers ranges between 300 points, which is the minimum, and 900 points.