Emcredit, the country’s leading credit information services company, announced today that it has secured the ISO 27001 certification, which is the world’s highest accreditation for information protection and security. Emcredit is now of a few companies in the UAE and among a small number of credit bureaus in the world to receive this endorsement.
Emcredit was certified by TUV NORD Middle East, a division of TUV NORD CERT GmBH providing comprehensive inspection, testing and certification services, based on national and international regulations and standards.
Ali Ibrahim, Managing Director, Emcredit, said: “Personal and credit information forms the backbone of our business and ensuring the integrity, confidentiality, and security of our data assets is paramount to our success. Our latest ISO 27001 certification is testament to our focus on safeguarding information privacy and represents a strong vote of confidence for our members and data-sharing partners.
“Above all, we believe that an individual has the right to privacy, of which data protection is an integral element. This is further fortified through our ISO certification and our ongoing efforts to follow international best practices in line with superior industry standards.”
Ibrahim added that a vast amount of credit and personal information from financial institutions and government departments is transferred to Emcredit’s systems and updated on a real-time basis. A growing number of clients and members are accessing this information online and in real time to support their business decisions. Even as the company expands its information coverage and reporting solutions to different sectors of the economy, information security will continue to remain central to Emcredit’s operational efficiency and professionalism.
ISO/IEC 27001, part of the growing ISO/IEC 27000 series of standards, is an information security management system (ISMS) standard published in October 2005 by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). The ISO27k standards provide generally accepted good practice guidance on Information Security Management Systems designed to protect the confidentiality, integrity and availability of the information content and systems.
Mr. Markus Lechtermann, Vice President, TUV NORD Middle East, said: “We are pleased to certify Emcredit with the prestigious ISO 27001 information security certification. Operating in a business of credit assessment, credit information services and other decision support tools, Emcredit has established systems required as per the standards in an excellent manner. The company’s data centre was found secure with the redundancy and business continuity management and the data was well maintained.”
About Emcredit:
Emcredit is the UAE’s pioneer information services company. It provides a range of comprehensive, accurate and timely information solutions such as credit bureau services, cheque-honouring reports, business background reports and other risk assessment tools. Emcredit’s decision support tools enable private and public entities to gain greater perspective into the risk profiles of individuals and companies, thereby empowering them to make more informed business decisions.
The company has a rich database on individuals and companies in the UAE, including 5.6 million consumer identification records, payment behaviour information on consumer and commercial borrowers and 35 per cent of mortgage data in the UAE. It has established data-sharing agreements with several government departments, to power its information solutions. These government entities include Dubai e-Government, Dubai Police, Dubai Public Prosecution, Department of Economic Development (DED), Dubai Land Department and its subsidiary, the Real Estate Regulatory Authority.
Emcredit is registered as a private entity and is based in the Dubai International Financial Centre (DIFC), which is regulated by the Dubai Financial Services Authority (DFSA). Emcredit operates in line with the DIFC’s Data Protection Law. Emcredit was incorporated in January 2006 under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.
