Trading of goods is the backbone of any economy, as import and export of supplies are vital for raising the standards of living.
Etihad Export Credit Insurance (or Etihad Credit Insurance - ECI), is specialised state institution that enables this sector in the country, as it facilitates export and re-export of UAE goods, works and services, along with foreign investments of UAE companies. It does so through its range of export credit, financing and investment insurance products.
Recently, ECI signed a memorandum of understanding with First Abu Dhabi Bank, to assist exporters and local businesses based in the UAE in managing their trade finance needs as well as their international expansion plans.
The MoU will see both institutions collaborating to develop products and services that will enable local exporters and businesses to reduce the commercial and political risks associated with international trade activities, while also providing financial support. In addition, it will also work on providing conventional and Murabaha trade credit insurance, credit and supply risk insurance, financing, factoring as well as Letter of Credit confirmations.
Read more about the MoU here.