Page 96 - ETIHAD CREDIT INSURANCE PR REPORT - MAY 2024

6/4/24, 4:04 PM PRESSR: Etihad Credit Insurance records 21-fold growth in gross exposure by end of 2023 to reach AED 9.6bln in 5 years — Tradi…
2023, ECI has experienced a staggering 21-fold increase compared to 2019. This

was announced during a media briefing led by H.E. Raja Al Mazrouei, Chief
Executive Officer of ECI, in the presence of other senior officials from the

company.

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 has

achieved outstanding successes on regional and international levels, solidifying

its standing as the region's leading hub for trade and investment. With an
emphasis on emerging industries and SMEs, we will continue to broaden and

diversify our economy according to the ‘We the UAE 2031’ vision, which aims to

increase the country's non-oil exports to AED 800 billion and raise the volume of

non-oil foreign trade to AED 4 trillion by the next decade.”

H.E. Bin Touq added: “Etihad Credit Insurance has significantly contributed to

advancing this national vision by fostering the expansion of domestic trade and

enterprises and facilitating crucial economic relations through comprehensive
economic partnership agreements (CEPAs). The company’s innovative credit

solutions and strategic collaborations have enhanced the competitiveness of

UAE businesses worldwide. This not only diversifies the UAE’s economic

landscape, but also propels its non-oil exports forward.”

His Excellency stated that ECI’s recent commitments to clean and green energy

initiatives further signify its role as a driving force towards sustainability. “ECI's

support has been financial as well as strategic, contributing to the 2030 Agenda
for Sustainable Development through support for non-oil trade, while also

ensuring compliance with international standards,” H.E. Bin Touq added.

The report highlighted ECI’s notable role in fostering the expansion of the UAE’s

non-oil exports, covering 3.1 per cent out of AED 441 billion in 2023, compared

to 1.9 per cent in the previous year. This growth was supported by a diverse

portfolio, with over two-thirds of beneficiaries comprising small and medium-

sized enterprises (SMEs), while large corporations represented another 20.9 per

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