The present law shall regulate the request, gathering, preservation, analysis, categorisation, use, circulation and protection of credit information and whatever is related thereto. The gathering, preservation and analysis of credit information shall be subject to restrictions set by the Central Bank.
Credit information, credit record and credit information report shall be deemed confidential by nature, and shall only be used for the activities of the company, and among parties set forth in the present law and as per the provisions hereof. Whoever violates the law and divulges credit information or breaches the confidentiality shall be sentenced to imprisonment for a period of at least two years and to a fine amounting to an amount of AED 50,000 at a minimum.
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