UAE - Etihad Credit ins. aims to boost exports
Thursday, 09 27 2018, Category: Insurance and Reinsurance, Country: U.A.E
Etihad Credit Insurance (ECI) is aiming to boost UAE exports and diversification of the economy by providing credit insurance to exporters and investors.
The federal government owned ECI, capitalised at Dh1 billion will also have the support of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), which is part of Jeddah-based Islamic Development Bank group.
ECI and ICIEC on Wednesday signed a Memorandum of Understanding to boost export trade through the promotion of Sharia-compliant export credit and investment insurance instruments.
The aim of ECI is to provide insurance and support exports and investors to mitigate risks — both political and commercial, said Massimo Falcioni, chief executive officer of the newly-formed entity.
“We will act as an enabler for exporters to be protected from political or commercial risks and also get easy access for trade finance from banks as we give guarantees to get financing,” he said, speaking to reporters in Abu Dhabi on Wednesday.
Source: Gulf News