Etihad Credit Insurance (ECI) has signed two Memorandums of Understanding (MoUs) with Saudi EXIM Bank and Credit Oman, marking a significant step toward enhancing regional collaboration in trade and export insurance.
The agreements were formalized during ECI's participation in the Annual General Meeting of the Berne Union, held in Hamburg, Germany.
The MoUs aim to bolster partnerships in key areas, including trade credit insurance—both conventional and Murabaha—providing UAE exporters with coverage against commercial and non-commercial risks. The cooperation extends to export financing, debt sales, SME financing, and risk management, all designed to foster a secure environment for trade.
Raja Al Mazroui, CEO of ECI, emphasized the importance of these partnerships in advancing the export credit system and promoting UAE products in international markets.
“Our commitment is to strengthen regional alliances and ensure confidence in the local export system,"
she said, adding that the agreements would support foreign trade and investment, solidifying the UAE’s position as a global trade hub.
Saudi EXIM Bank’s CEO, Saad bin Abdulaziz Al-Khalb, highlighted the potential for increased trade and investment between Saudi Arabia and the UAE, while Credit Oman's CEO, Sheikh Khalil bin Ahmed Al-Harthy, reiterated their dedication to strengthening cooperation in insurance and risk management.
The MoUs also call for joint participation in industry events and the organization of workshops focused on trade protection solutions. A special report on market and country risks will be prepared to identify and mitigate risks associated with international trade.
News Source: Emirates News Agency
