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DUBAI / WAM
Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a Memorandum of Understanding with the Arab Bank for Investment and Foreign Trade (Al Masraf).
This strategic agreement is designed to enhance collaboration across various domains related to insurance and risk management, in support of the trade and real estate sectors. Moreover, it aims to bolster exporters’ access to finance, reinforcing the UAE’s economic agenda.
The scope of this partnership encompasses trade credit insurance, both conventional and Murabaha. This includes export credit risk insurance to protect UAE exporters against commercial and non-commercial risks. The agreement also extends to short-term, medium-term, and long-term credit risk insurance, insurance against individual buyer risk, along with supply risk, export and SME financing, confirmation of letters of credit (LoC), and broader corporate finance solutions.
Raja Al Mazrouei, CEO of Etihad Credit Insurance (ECI), said, “This agreement with the Arab Bank for Investment and Foreign Trade, reflects our ongoing commitment to fostering bilateral cooperation.”
“This partnership underscores our focus on sustainable economic development and is strategically aligned with our efforts to strengthen the UAE’s export ecosystem, increase global market access for UAE-manufactured products and goods, and reinforce the nation’s position as a key hub for international trade and investment.”
She highlighted that the joining of Arab Bank for Investment and Foreign Trade in ECI’s growing network of partners represents a valuable addition to its portfolio. And further emphasised ECI’s unwavering commitment to delivering integrated credit and financing solutions that empower UAE-based businesses and facilitate entry for their products into more regional and international markets, especially in countries where Comprehensive Economic Partnership Agreements (CEPAs) have been established through strategic alliances.
Fuad Mohamed, CEO of Arab Bank for Investment and Foreign Trade (Al Masraf), said, “We are honoured to partner with ECI, led by a vision to strengthen key trade, investment and risk management solutions, which are crucial for UAE exporters and the wider business community. This strategic collaboration seamlessly aligns with Al Masraf’s long-standing vision to support the UAE’s economic growth, trade diversification and development of key sectors such as real estate.”
The MoU also outlines plans for the joint organisation of seminars and workshops to raise awareness about the benefits of the solutions offered by both entities in safeguarding activities against commercial and political non-payment risks. Moreover, the agreement includes joint participation in conferences, events, and other related activities.