Page 21 - ECI PR REPORT JANUARY 2025

Press release

ECI and Al Maryah Community Bank sign MoU to elevate
‘Xport Xponential’ initiative and drive economic growth

09 January 2025 - Etihad Credit Insurance (ECI), the UAE's Federal Export Credit
Company, signed a Memorandum of Understanding (MoU) with Al Maryah
Community Bank, the country's first local digital bank licensed by the Central Bank of
the UAE (CBUAE). The agreement positions the bank as a key partner of ECI’s ‘Xport
Xponential,’ an initiative designed to enhance the potential of UAE manufacturers and
exporters, strengthen the national economy, and diversify the country’s resources.

H.E. Raja Al Mazrouei, CEO of ECI, said, “Our partnership with Al Maryah
Community Bank marks a critical milestone in supporting the Xport Xponential
initiative, with regard to its role in driving the UAE’s economic expansion and
unveiling new growth avenues for UAE-based export and re-export businesses,
empowering them to seamlessly access international markets. We are pleased to have
Al Maryah Community Bank as part of this initiative and confident that our partnership
will establish a comprehensive framework to enhance financing options and broaden
the customer base by offering innovative financial solutions as well as credit facilities.”

Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, said, “We
are proud to partner with Etihad Credit Insurance through the ‘Xport Xponential’
initiative, facilitating the daily operations of exporters and re-exporters and providing
them with innovative, simple, fast, and fully digital financing solutions. This step boosts
the growth of UAE exports, supports their competitiveness, and creates new
opportunities for exporters in key sectors within the country, in line with the UAE
Vision 2031. Through this partnership, we will facilitate these businesses’ entry into
global markets with more confidence than ever before. We promise to support
manufacturers and exporters and provide them with the tools, knowledge, and financing
they need to succeed on an international level.”

The partnership will open up an additional financial source for the UAE's export and
re-export companies, further expanding the range of available credit solutions. This will
also facilitate better access to markets within nations participating in the
Comprehensive Economic Partnership Agreements (CEPA) program. Moreover, the
‘Xport Xponential’ initiative leverages strategic collaborations with regional partners
from both public and private sectors to offer companies a comprehensive suite of
facilities and resources like innovative credit and financing solutions, strategic
consulting, guidance from export experts, and risk management strategies, as well as
access to a database of over 400 million global companies.