Page 309 - MOE ENGLISH PR REPORT - FEBRUARY 2024

in the country, supporting and encouraging exporters to deal with foreign

markets confidently and securely, thereby enhancing the achievement of the

economic targets of 'We the UAE 2031' vision. This vision aims to enhance

the country's position as a global partner, an attractive and influential

economic hub, and to increase the non-oil national exports of the country to

Dh800 billion by the next decade.”

Strategic Initiatives

ECI's strategic initiatives have significantly contributed to the promotion of

UAE non-oil exports, evidencing a robust portfolio growth with a gross

exposure of Dh9.5 billion as of the end of 2023 and covering 1.9 percent out

of Dh366 billion in 2022.

Supporting the AA- rating by Fitch, ECI has a strong capitalisation with Dh250

million in paid-in capital, an extra Dh750 million contributed by its

shareholders for growth objectives, and it doesn't have any debt.

ECI's investments are characterised by high liquidity and prudent allocation to

short-term fixed deposits in UAE-based banks of high credit quality.

Etihad Credit Insurance remains committed to the UAE's ambitious agenda to

https://en.aletihad.ae/news/business/4466765/fitch-reaffirms-etihad-credit-insurance-s-ratings-
at--aa---w