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Sun 5 Jul 2009 12:11 PM

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UAE to publish jobs, credit data in transparency bid

Gov't-backed Emcredit says it will publish first report later this summer, more to come.

UAE to publish jobs, credit data in transparency bid
IN CREDIT: Emcredit is set to publish quarterly employment and credit-related statistics for the UAE in a bid to improve transparency. (Getty Images)

The UAE is set to publish quarterly employment and credit-related economic indicators in an effort to improve transparency, it was announced on Sunday.

Emcredit, the UAE's first government-backed credit information services company, said is was in the final stages of collating the first research report called Q1-2009 Business Activity Report and will be launched this summer.

The company revealed that it is also set to launch similar indicators later in the year on trends related to credit risk and employment.

"Dubai and the rest of the UAE are increasingly operating in a globalised setting. In strengthening the country's business environment and enhancing transparency, it becomes critical to be fully informed about economic trends and patterns," said Ali Ibrahim, managing director of Emcredit.

"Such economic indicators and trends, when backed by accurate data and tracked regularly, can greatly support the decision-making process of policy makers, law enforcement authorities, lenders, commercial entities, as well as enhance the confidence of foreign investors," he added.

He stressed that Emcredit would hold a "neutral position" to ensure the accuracy of the reports.

"Emcredit is neither a policy-maker nor a regulator; being an aggregator of information places us at the heart of the system, enabling us to provide timely and credible information in an unbiased manner," Ibrahim said.

Ibrahim said data was also being collated from multiple sources, including banks, governments, law enforcement authorities and others.

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