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11/6/24, 11:20 AM Etihad Credit Insurance signs two MoUs with Saudi Exim Bank and Credit Oman - Middle East News 247

Etihad Credit Insurance signs two MoUs with Saudi

Exim Bank and Credit Oman

By News Desk 1 October 17, 2024

Etihad Credit Insurance (ECI), the UAE’s federal export credit company, signed two Memorandums of

Understanding (MoU) with Saudi EXIM Bank and Credit Oman during its participation in the Annual General
Meeting of Berne Union, in Hamburg, Germany.

The MoUs seek to strengthen regional partnerships and collaboration in a number of areas related to
insurance and risk management. This includes trade credit insurance (conventional and Murabaha), which
provides the UAE exporters with insurance against commercial and non-commercial risks, along with

insurance against individual buyer risks. The cooperation also extends to supply risks, exports financing, debt
sales, SME financing, confirmation of letters of credit, and corporate finance.

In this regard, Her Excellency Raja Al Mazroui, CEO of Etihad Credit Insurance (ECI), highlighted how
the new partnerships with Saudi EXIM Bank and Credit Oman represent a leap forward in developing the

export credit system, and enhancing the prospects of foreign trade and investment. Her Excellency noted
that these agreements represent ECI’s commitment to fortify collaboration and establish alliances with
leading regional institutions in credit sectors. This, in turn, fosters confidence in the local export system, helps
introduce products of Emirati origin to a broader range of international markets, and solidifies the UAE’s

position as a vital hub for global trade and investment.

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