Page 168 - MOE ENGLISH PR REPORT - JANUARY 2025

2/3/25, 2:56 PM Etihad Credit Insurance achieves AA- rating with stable outlook from Fitch for seventh year in a row
Praise for ECI’s high credit rating from H.E. Bin Touq
Commending ECI’s high credit rating, H.E. Bin Touq further remarked: “ECI’s favourable rating
from Fitch ratings demonstrates the confidence of business communities in the national economy,
and promotes its reputation regionally and globally, thereby consolidating the country’s position as a
leading hub for business and trade. In alignment with the ‘We the UAE 2031’ initiative, which aims
to elevate the country’s GDP to AED 3 trillion by the next decade and boost non-oil exports to AED
800 billion, the latest milestone accentuates our national efforts to fortify the company’s essential
role in cultivating a competitive environment for exporters and importers, while enhancing the
momentum of export and re-export activities of UAE-based companies.”
Read more: Etihad Credit Insurance hosts workshop for selected Xport Xponential initiative
companies
Factors contributing to ECI’s milestone
Numerous factors have played a role in ECI’s recent accomplishment, including government
backing, particularly as the UAE’s federal export credit agency, alongside its capital strength and the
absence of any financial limitations. Furthermore, other significant factors included the company’s
robust reinsurance program, its unmatched expertise in the sector, and the capability to insure the
risks related to UAE foreign trade.

H.E. Raja Al Mazrouei on ECI’s rating significance
H.E. Raja Al Mazrouei, CEO of ECI, emphasized that this rating is among the highest granted by
specialized agencies, serving as a new benchmark for the company’s financial performance and risk
tolerance strength. This success, Her Excellency noted, results from ECI’s strategic roadmap, which
seeks to amplify the volume of credit assistance provided to manufacturers and exporters. “The AA-
rating further aids ECI in delivering its services and solutions more effectively worldwide, enhances
national export competitiveness, and simplifies the process for Emirati products to access targeted
global markets,” H.E. Al Mazrouei added.
ECI’s ongoing support for the national economy
Since its establishment, Etihad Credit Insurance has been instrumental in driving the national
economy and non-oil foreign trade. Moreover, by facilitating local trade and manufacturing
activities, equipping entities with tools to mitigate trade and political risks, lowering the cost of
trade financing, supporting project financing, and providing access to trade financing solutions and
international markets, ECI continues to advance national economic objectives with its extensive
portfolio of comprehensive services.

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