Page 350 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)

6/4/24, 4:49 PM Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6 billion in 5 years | Australia Hea…

Etihad Credit Insurance records 21-fold growth in gross exposure by end

of 2023 to reach AED 9.6 billion in 5 years

May 23, 2024 | Business

DUBAI, UAE, May 23, 2024 /24-7PressRelease/ — Etihad Credit Insurance (ECI), the UAE Federal export credit company, unveiled its growth
trajectory in its annual report for 2023. With a gross exposure of AED 9.6 billion, ECI experienced a 21-fold increase compared to 2019.

H.E. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, said: “Under the guidance of our wise leadership,
the UAE achieved regional and international success, becoming a leading hub for trade and investment. Emphasising emerging industries and
SMEs, we are diversifying our economy according to the ‘We the UAE 2031’ vision. ECI’s financial and strategic support contributes to the 2030
Agenda for Sustainable Development.”

H.E. Raja Al Mazrouei, Chief Executive Officer of ECI, said: “We provide innovative credit solutions, easy financial access, expert market
insights, and nurture strategic collaborations. Our dedication to UAE exporters is reflected by the 25 per cent increase in policies issued. Our
primary aim is to expand ECI’s services to strengthen national exports.”

ECI’s supported UAE exporters across 17 sectors in 110 countries, amounting to a non-oil trade and investment of AED 14 billion in 2023. This
was facilitated by 21 agreements with government export credit agencies.

ECI’s commitment to supporting clients beyond credit insurance is demonstrated by the company’s handling of overdue payments, resulting in
collection of AED 82 million. It showcases ECI’s contributions to facilitating financial access for UAE exporters, with over AED 1.8 billion worth of

https://aussieheadlines.com/Business/etihad-credit-insurance-records-21-fold-growth-in-gross-exposure-by-end-of-2023-to-reach-aed-9-6-billion-in-5-… 1/2