Latest news with #RajaAlMazrouei
Zawya
27-05-2025
- Business
- Zawya
Etihad Credit Insurance achieves $4.41bln in insured turnover with 15.7% growth
Etihad Credit Insurance (ECI), the UAE federal export credit company, has revealed a remarkable year of growth and strategic achievement in its 2024 Annual Report, with insured turnover reaching AED16.2 billion - reflecting a 15.7 percent year-on-year increase and accounting for 2.85 percent of the UAE's total non-oil exports. This was announced during a media briefing led by Raja Al Mazrouei, Chief Executive Officer of ECI, and other senior officials from the company. These figures underscore ECI's deepened contribution to supporting and safeguarding UAE-based exporters and investors through strategic credit solutions in over 100 countries and 17 strategic sectors. In 2024, the UAE's non-oil foreign trade surged to AED 3 trillion, marking a 14.6 percent increase over the previous year. ECI's contribution plays a vital role in advancing the nation's goal of achieving AED800 billion in the country's non-oil exports by the next decade, in line with 'We the UAE 2031' economic goals. Since its inception, the company has facilitated over AED 21 billion in cumulative export trade and investment, resulting in booked Gross Written Premium (GWP) of AED447 million, reflecting strong portfolio growth and a high retention rate. Abdulla Bin Touq Al Marri, Minister of Economy and Chairman of ECI Board of Directors, said, 'Guided by the unwavering support and directives of our wise leadership, the UAE has made remarkable strides in building a resilient, innovative, and knowledge-based economy. At the heart of this transformation is economic diversification, with non-oil industries, exports, re-exports, and non-oil foreign trade playing a central role in shaping our future aligned with the 'We the UAE 2031' vision. Today, non-oil sectors contribute 74.6% to the UAE's GDP—underscoring their growing role in shaping the country's economic future. Etihad Credit Insurance has significantly contributed to advancing this vision by fostering the expansion of UAE-based companies, enabling broader market access, and reinforcing key economic partnerships through targeted collaborations and tailored credit insurance solutions. By helping UAE businesses compete more effectively on the global stage, ECI plays a vital role in accelerating non-oil export growth and strengthening the country's standing as a leading, diversified economic powerhouse.' Bin Touq further noted that ECI has extended credit guarantees to cover several major infrastructure and energy deals in African markets, including Angola and Senegal, in line with the UAE's strategic efforts to foster sustainable global partnerships and drive inclusive economic development. 'In 2024, ECI provided targeted trade and investment insurance solutions to projects that advance clean energy, food security, critical infrastructure, and water sustainability. These efforts reflect our growing role in shaping a trade and export ecosystem that delivers long-term economic value while addressing urgent global challenges such as climate change and social equity,' he elaborated. The report stated that the company has witnessed a gross exposure of AED 11 billion - a 14.58 percent increase over 2023. This growth was supported by a diverse portfolio, with over 60 percent of beneficiaries comprising small and medium-sized enterprises (SMEs). The report highlighted that ECI secured AA- international rating by Fitch for the sixth consecutive year, reflecting on the company's ability to mitigate potential risks and reiterate its strong presence in global markets. Raja Al Mazrouei said, 'We are committed to supporting the UAE's accelerated drive toward economic resilience and long-term sustainability. By offering innovative credit solutions, streamlined access to financing, and forging high-impact strategic partnerships, we empower UAE exporters, particularly SMEs, to unlock new opportunities and scale globally with confidence in an increasingly competitive world. This is reflected in ECI's strong performance in 2024, which not only underscores its pivotal role in enabling the national export competitiveness but also its commitment to empowering businesses with the tools and confidence to expand into new global markets. A key milestone for us in 2024 was the launch of Xport Xponential, a comprehensive program designed to support UAE-based companies. This new strategic initiative aligns with our commitment to increasing ECI's contribution to the non-oil GDP by 7-fold by 2031.' Al Mazrouei also reaffirmed ECI's dedication to clean and green energy initiatives in line with the UAE's sustainability commitments and United Nations Sustainable Development Goals (SDGs). 'The Africa Green Investment Initiative (AGII) led by the UAE and announced at the Africa Climate Summit, held in Nairobi in September 2023, is a multistakeholder partnership that employs an innovative approach to climate finance, combining the resources, expertise, and local knowledge of the following partners: Abu Dhabi Fund for Development; Masdar; AMEA Power; Africa 50; and Etihad Credit Insurance. AGII aims to deploy $4.5 billion in African renewable energy capacity by the end of the decade. "This initiative represents one of the most comprehensive efforts to drive climate action and decarbonization in emerging economies and least developed countries to date and builds on the UAE's long-standing commitment to international cooperation and sustainable socio-economic development." Furthermore, the report revealed that ECI offers coverage of up to AED500 million per risk, with 60 percent of that amount ceded under a quota-share arrangement. This structure is backed by nine reinsurers rated 'A' and above, reaffirming ECI's robust reinsurance treaty. The report also highlighted ECI's commitment to supporting clients beyond credit insurance. This commitment was demonstrated by the company's effective handling of overdue payments, which resulted in the collection of AED 158 million from overdue payments, achieving collection success rate of 77 percent. With this, the total debt collected by ECI since its inception has risen to AED528 million, an 87 percent recovery success rate. The report further detailed the composition of ECI's portfolio, noting that 70 percent of its exposure lies in Short-Term Credit Insurance (ST), which supports high-frequency trade cycles, particularly in manufacturing, ICT, and agri-exports. Medium and Long-Term (MLT) commitments account for 17 percent of the portfolio, highlighting ECI's growing involvement in infrastructure, energy, and other capital-intensive sectors. The remaining 13 percent is dedicated to Political Risk Insurance (PRI). In terms of geographic distribution, the report identified Saudi Arabia as ECI's largest export market within the Gulf and wider MENA region, accounting for 7 percent of the company's total exposure. ECI also provided notable coverage for exports to Egypt, Oman, Qatar, and Bahrain, highlighting the strength of intra-regional trade. Beyond the Middle East, ECI supported significant trade flows to leading Asian economies such as India and Singapore, while also facilitating UAE exports to Europe - including the UK and EU - and America. Furthermore, ECI signed around 28 agreements with government export credit agencies worldwide, including US EXIM, Korea Eximbank, Sinosure, BPI France, solidifying ECI's position as a trusted partner for international trade. Finally, the report also outlined ECI's plans to leverage the UAE's Comprehensive Economic Partnership Agreements (CEPAs) to further enhance trade and strengthen commercial relations. These efforts will be supported by ECI's expanding information database, which grants access to over 400 million corporates globally, empowering UAE-based exporters with valuable insights and intelligence.
Hi Dubai
17-04-2025
- Business
- Hi Dubai
ECI Showcases Strategic Export Solutions at TXF MEA 2025 to Bolster UAE's Global Trade Presence
Etihad Credit Insurance (ECI) spotlighted its strategic innovations in export support during the TXF MEA 2025 conference in Dubai, reaffirming the UAE's commitment to becoming a leading global trade hub. Raja Al Mazrouei, CEO of ECI, highlighted the organisation's pivotal role in facilitating national exports into key regional and international markets. She emphasised how ECI's solutions align with the UAE's We the UAE 2031 vision, which aims to boost non-oil exports to AED 800 billion within the next decade. 'Our efforts focus on enabling businesses, especially SMEs, to navigate global markets with confidence. We provide risk-mitigation tools and credit solutions to reinforce the competitiveness of UAE-made products abroad,' Al Mazrouei said. She also credited the UAE leadership's guidance in shaping a resilient and future-ready economy, stressing the importance of enhancing participation in platforms that foster trade partnerships and manufacturing growth. At the event, ECI presented mechanisms designed to help exporters manage challenges tied to global economic uncertainties. The company also underscored its ongoing initiatives to uncover new market opportunities for UAE businesses. Yasmin Bahgat, ECI's Head of Export Finance, joined a key panel discussion titled 'Going Local – The Rise of Regional ECAs in Africa and the Middle East.' The session explored regional growth trends and the evolving role of ECAs in expanding market access. TXF MEA 2025 gathered global experts in export finance, government officials, and multinational stakeholders to strengthen collaboration, drive innovation, and promote economic diversification across the MENA region. News Source: Emirates News Agency
Zawya
17-04-2025
- Business
- Zawya
Etihad Credit Insurance promotes strategic solutions to enhance national exports' access to global markets
DUBAI: Raja Al Mazrouei, CEO of Etihad Credit Insurance (ECI), highlighted the innovative strategies and solutions adopted by ECI to facilitate the access of the national exports into key regional and global markets. Al Mazrouei further emphasised the impact of strategic initiatives in strengthening the country's position as a leading global trade hub, and reiterated the significance of export, re-export and non-oil foreign trade activities in driving this growth, especially through ECI's role in attaining the economic objectives of the 'We the UAE 2031' vision, which seeks to boost the UAE's non-oil exports to AED 800 billion by the next decade. This took place during ECI's participation in the recently concluded TXF MEA 2025 conference in Dubai. The event convened leading experts in trade finance and export credit, along with representatives from financial institutions, government entities, and multinational corporations. It served as a significant platform to explore ways for accelerating international trade and facilitating financial flows across emerging markets. Al Mazrouei said: 'We are grateful for the continued directives and unwavering support of the UAE's wise leadership under which the country continues to make remarkable strides towards building a more resilient, sustainable and future-ready economic model. At ECI, we remain steadfast in our dedication to accelerating these efforts by providing solutions that seamlessly address risks associated with export and re-export activities. We aim to empower businesses, especially small and medium-sized enterprises, with credit tools that allow them to venture into new markets and reinforce the appeal and competitiveness of locally produced non-oil products in targeted regional and international markets.' Furthermore, Al Mazrouei highlighted ECI's continued efforts to identifying new opportunities to improve the export capabilities of UAE-based businesses, allowing them to expand their presence in global markets. She also underscored the importance of enhancing engagement in local, regional and international events that focus on promoting the growth of the export and manufacturing industries, reinforcing trade exchange, and solidifying economic and trade partnerships and agreements between countries. During the event, ECI exhibited mechanisms designed to support exporters while addressing the challenges they confront during global economic uncertainties. Yasmin Bahgat, Head of Export Finance at ECI, participated in a panel discussion titled 'Going Local - The Rise of Regional ECAs in Africa and the Middle East,' alongside a group of renowned industry experts. The session explored the latest trends and challenges impacting the sector while also underscoring significant growth prospects and expansion potential in both regional and global markets. The TXF MEA conference is a key platform that convenes leading experts from the export and project finance sectors, in addition to representatives from export credit agencies and financial institutions across the region. It seeks to cultivate partnerships between export credit agencies and key stakeholders, drive innovation, promote economic diversification, and reinforce trade exchanges to strengthen the Middle East and North Africa (MENA)'s position as a thriving global investment and trade hub.
Mid East Info
16-04-2025
- Business
- Mid East Info
Etihad Credit Insurance promotes strategic solutions to enhance national exports' access to global markets and strengthen the UAE's foreign trade ecosystem
Her Excellency Raja Al Mazrouei, CEO of Etihad Credit Insurance (ECI), highlighted the innovative strategies and solutions adopted by ECI to facilitate the access of the national exports into key regional and global markets. H.E. Al Mazrouei further emphasised the impact of strategic initiatives in strengthening the country's position as a leading global trade hub. and reiterated the significance of export, re-export and non-oil foreign trade activities in driving this growth, especially through ECI's role in attaining the economic objectives of the 'We the UAE 2031' vision, which seeks to boost the UAE's non-oil exports to AED 800 billion by the next decade. This took place during ECI's participation in the recently concluded TXF MEA 2025 conference in Dubai. The event convened leading experts in trade finance and export credit, along with representatives from financial institutions, government entities, and multinational corporations. It served as a significant platform to explore ways for accelerating international trade and facilitating financial flows across emerging markets. H.E. Raja Al Mazrouei said: 'We are grateful for the continued directives and unwavering support of the UAE's wise leadership under which the country continues to make remarkable strides towards building a more resilient, sustainable and future-ready economic model. At ECI, we remain steadfast in our dedication to accelerating these efforts by providing solutions that seamlessly address risks associated with export and re-export activities. We aim to empower businesses, especially small and medium-sized enterprises, with credit tools that allow them to venture into new markets and reinforce the appeal and competitiveness of locally produced non-oil products in targeted regional and international markets.' Furthermore, H.E. Al Mazrouei highlighted ECI's continued efforts to identifying new opportunities to improve the export capabilities of UAE-based businesses, allowing them to expand their presence in global markets. Her Excellency also underscored the importance of enhancing engagement in local, regional and international events that focus on promoting the growth of the export and manufacturing industries, reinforcing trade exchange, and solidifying economic and trade partnerships and agreements between countries. During the event, ECI exhibited mechanisms designed to support exporters while addressing the challenges they confront during global economic uncertainties. Yasmin Bahgat, Head of Export Finance at ECI, participated in a panel discussion titled 'Going Local – The Rise of Regional ECAs in Africa and the Middle East,' alongside a group of renowned industry experts. The session explored the latest trends and challenges impacting the sector while also underscoring significant growth prospects and expansion potential in both regional and global markets. The TXF MEA conference is a key platform that convenes leading experts from the export and project finance sectors, in addition to representatives from export credit agencies and financial institutions across the region. It seeks to cultivate partnerships between export credit agencies and key stakeholders, drive innovation, promote economic diversification, and reinforce trade exchanges to strengthen the Middle East and North Africa (MENA)'s position as a thriving global investment and trade hub.
Zawya
16-04-2025
- Business
- Zawya
Etihad Credit Insurance promotes strategic solutions
During its participation at TXF MEA in Dubai Dubai: Her Excellency Raja Al Mazrouei, CEO of Etihad Credit Insurance (ECI), highlighted the innovative strategies and solutions adopted by ECI to facilitate the access of the national exports into key regional and global markets. H.E. Al Mazrouei further emphasised the impact of strategic initiatives in strengthening the country's position as a leading global trade hub. and reiterated the significance of export, re-export and non-oil foreign trade activities in driving this growth, especially through ECI's role in attaining the economic objectives of the 'We the UAE 2031' vision, which seeks to boost the UAE's non-oil exports to AED 800 billion by the next decade. This took place during ECI's participation in the recently concluded TXF MEA 2025 conference in Dubai. The event convened leading experts in trade finance and export credit, along with representatives from financial institutions, government entities, and multinational corporations. It served as a significant platform to explore ways for accelerating international trade and facilitating financial flows across emerging markets. H.E. Raja Al Mazrouei said: 'We are grateful for the continued directives and unwavering support of the UAE's wise leadership under which the country continues to make remarkable strides towards building a more resilient, sustainable and future-ready economic model. At ECI, we remain steadfast in our dedication to accelerating these efforts by providing solutions that seamlessly address risks associated with export and re-export activities. We aim to empower businesses, especially small and medium-sized enterprises, with credit tools that allow them to venture into new markets and reinforce the appeal and competitiveness of locally produced non-oil products in targeted regional and international markets.' Furthermore, H.E. Al Mazrouei highlighted ECI's continued efforts to identifying new opportunities to improve the export capabilities of UAE-based businesses, allowing them to expand their presence in global markets. Her Excellency also underscored the importance of enhancing engagement in local, regional and international events that focus on promoting the growth of the export and manufacturing industries, reinforcing trade exchange, and solidifying economic and trade partnerships and agreements between countries. During the event, ECI exhibited mechanisms designed to support exporters while addressing the challenges they confront during global economic uncertainties. Yasmin Bahgat, Head of Export Finance at ECI, participated in a panel discussion titled 'Going Local - The Rise of Regional ECAs in Africa and the Middle East,' alongside a group of renowned industry experts. The session explored the latest trends and challenges impacting the sector while also underscoring significant growth prospects and expansion potential in both regional and global markets. The TXF MEA conference is a key platform that convenes leading experts from the export and project finance sectors, in addition to representatives from export credit agencies and financial institutions across the region. It seeks to cultivate partnerships between export credit agencies and key stakeholders, drive innovation, promote economic diversification, and reinforce trade exchanges to strengthen the Middle East and North Africa (MENA)'s position as a thriving global investment and trade hub.
