Page 72 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024 (International)

6/4/24, 4:26 PM Tech Archives | Grit Daily News

Etihad Credit Insurance

records 21-fold growth in

gross exposure by end of

2023 to reach AED 9.6 billion

in 5 years

24-7 PRESS RELEASE NEWSWIRE Thursday, May 23, 2024 at 11:00am GMT+4

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

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