Page 48 - ETIHAD CREDIT INSURANCE PR REPORT - JULY 2024_Neat

Etihad Credit Insurance and International

Development Bank sign cooperation agreement to
support ‘Xport Xponential’ initiative

July 31, 2024
8

Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a
cooperation agreement with the International Development Bank (IDB), the largest
banking network in Iraq, to support the ‘Xport Xponential’ initiative. By signing the
agreement, the bank will join the list of partners of the ‘Xport Xponential’ initiative,
launched by ECI in May with the goal of empowering UAE-based companies that
operate in the industrial, export, and re-export sectors.
Her Excellency Raja Al Mazrouei, CEO of Etihad Credit Insurance, said: “This
partnership represents a valuable addition to the ‘Xport Xponential’ initiative, as it
supports both parties in their efforts to facilitate trade and economic activities of
businesses based in the UAE. It also gives us great pleasure to announce that the
International Development Bank, the first Iraqi bank with operations in the UAE,
will be joining the initiative. We are confident that our mutual cooperation will
further improve trade relations between the two nations.”
Dr. Ziad Khalaf Abed Kareem, Chairman of the Borad of International Development
Bank, stated: “We at the International Development Bank are committed to further
strengthen our presence and contributions to the UAE’s and the region’s trade and
export landscape and helping build trade channels between the UAE and Iraq
markets. Our goal is to use this partnership to encourage businesses in both
nations to capitalise on this revolutionary initiative and expand their export and
trade operations into previously untapped markets.”
As one of the partners in the ‘Xport Xponential’ initiative, the International
Development Bank will now offer additional funding opportunities for export and re-
export companies in the UAE. The agreement further advances the development of
credit solutions by providing businesses with access to the markets of Iraq and

https://mid-east.info/etihad-credit-insurance-and-international-development-bank-sign-
cooperation-agreement-to-support-xport-xponential-initiative/