Page 174 - MOE ENGLISH PR REPORT - JANUARY 2025

2/3/25, 2:57 PM Etihad Credit Insurance receives AA- rating with stable outlook from Fitch Ratings - Middle East News 247
This prestigious rating underscores ECI’s pivotal role in accelerating the UAE’s economic diversification and
reinforcing its global trade leadership. It also aligns with the Long-Term IDR of the United Arab Emirates

(UAE; AA-/Stable), reflecting the UAE’s robust economic policies and strategic initiatives to foster a dynamic,
future-ready economy.

H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Board of Directors of Etihad
Credit Insurance, affirmed that the UAE, driven by the guidance of its wise leadership, has grown into a

strong economy that relies on diverse resources and is capable of adapting to global changes. According to
H.E., the nation has adopted flexible and proactive economic policies and strategies, that have been
instrumental in promoting the competitiveness of national products in foreign markets, encouraging economic
accessibility to the world, building meaningful partnerships with numerous regional and international markets,

and increasing the non-oil sector’s contribution to the national GDP by 75 per cent.

Praising ECI’s high credit rating, H.E. Bin Touq said: “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 keeping with the ‘We the UAE 2031’ initiative, which aims to increase the country’s GDP to AED 3 trillion
by the next decade and increase non-oil exports to AED 800 billion, the latest milestone highlights our
national efforts to strengthen the company’s crucial role in creating a competitive environment for exporters

and importers, while helping increase the momentum of export and re-export activities of UAE-based
companies.”

Many factors have contributed to ECI’s latest milestone, including government support, especially as the
UAE’s federal export credit agency, coupled with its capital strength and the absence of any financial
constraints. Other key determinants also included the company’s robust reinsurance program, its

unparalleled expertise in the field, and the capacity to insure the risks associated with UAE foreign trade.

H.E. Raja Al Mazrouei, CEO of ECI, underlined that this rating is one of the highest rates offered by

specialised agencies, making it a new gauge of the company’s financial performance and risk tolerance

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