Page 10 - ECI PR REPORT - NOVEMBER 2024

Press Release

ECI and Free Zones Authority of Ajman sign MoU to offer
insurance solutions and financing opportunities to UAE

exporters

26 November 2024 - Etihad Credit Insurance (ECI), the UAE Federal export
credit company, signed a memorandum of understanding (MoU) with the Free Zones

Authority of Ajman to offer a broad spectrum of insurance solutions and financing
opportunities to exporters in the UAE.

Under the MoU, ECI and Free Zones Authority of Ajman will strengthen and enhance
their partnership in several insurance and risk management areas. This includes trade

credit insurance (conventional and Murabaha), insurance against export credit risks and
short-term, medium-term, or long-term credit risks, along with insurance against

individual buyer risks. Additionally, ECI and Free Zones Authority of Ajman will

jointly organise workshops to promote awareness of these solutions and their benefits,
which include protecting businesses from non-payment risks arising from commercial

and political factors. As part of their collaborative efforts, both parties will also
participate in local and international conferences, events, and activities.

H.E. Raja Al Mazrouei, CEO of Etihad Credit Insurance, said: “We are pleased to

sign the MoU with Free Zones Authority of Ajman as it showcases our dedication to

enhancing trade and investment opportunities in the UAE and the region. This
collaboration will enable us to provide consistent support to exporters in the UAE

through innovative solutions in trade credit insurance, export finance, and risk
management. By doing so, we aim to contribute to the competitiveness of non-oil

exports in global markets. Furthermore, this agreement also reinforces our commitment

to building robust relationships with government partners and solidifying the UAE’s
position as a global hub for investment and trade.”

H.E. Ismail Al Naqi, Director-General of Free Zones Authority of Ajman, said:

“This strategic partnership with ECI marks a significant move towards bolstering the

international competitiveness of Ajman-based companies. The Authority seeks to