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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. Emcredit's strategy is to promote a conducive knowledge-based environment. Our reports are based on an analysis of comprehensive data from public and private sources, and we believe these reports will prove valuable to the national economy," he added.
He highlighted that Emcredit's neutral position in the industry makes it a favourable institution to generate these reports for the industry.
"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," he said.
Ibrahim said a variety of data is also being collated from multiple sources, including banks, governments, law enforcement authorities and others.
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Posted by Rana Mesbah
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