Page 97 - 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…
cent. This underscores ECI’s significant contribution to the UAE’s progress

towards its 2031 foreign trade targets.

H.E. Raja Al Mazrouei, Chief Executive Officer of ECI, said: “We are committed
to providing innovative credit solutions, facilitating easy access to finance,

offering expert market insights, and nurturing strategic collaborations in line

with our vision and mission to foster sustainable and secure non-oil trade for

the UAE’s economy. We empower UAE businesses to confidently participate in

global trade, driving towards a robust and well diversified economy. Leveraging
our innovative approach and meticulously crafted 2023 business plans, ECI has

emerged as a beacon of stability for UAE enterprises. We have seen a significant

increase in the demand for our services, with a remarkable surge in insured

trade and investment transactions. Our dedication to protecting the interests of

UAE exporters is evident in the numbers, with a 25 per cent increase in policies

issued compared to 2022.”

Al Mazrouei added; “As we continue to adapt and grow, expanding ECI’s services
to strengthen national exports stands as our primary objective, marking a

significant leap forward in our capabilities and outreach. This new strategic

phase aims to double the growth rate of UAE exports through ECI and increase

our contribution to the non-oil GDP by 7-fold by 2031.”

The report stated that ECI’s global outreach efforts resulted in the support of

UAE exporters across 17 sectors in 110 countries, amounting to a non-oil trade

and investment of AED 14 billion in 2023. This success was facilitated by
approximately 21 agreements signed with government export credit agencies

worldwide, solidifying ECI’s position as a trusted partner for international trade.

Additionally, the report highlighted ECI’s commitment to supporting clients

beyond credit insurance. This commitment was demonstrated by the company’s

effective handling of overdue payments, leading to the collection of AED82

million. It showcases ECI’s significant contributions to facilitating access to

financing for UAE exporters, with over AED 1.8 billion worth of credit cover

https://www.tradingview.com/news/reuters.com,2024-05-22:newsml_ZawSqVrx:0-pressr-etihad-credit-insurance-records-21-fold-growth-in-gross-expo… 3/5