Dubai: Etihad Credit Insurance (ECI), the UAE Federal export credit company, and Emirates NBD have signed an agreement that will improve the liquidity of UAE exporters and businesses and enhance their global competitiveness.
The agreement follows the Memorandum of Understanding (MoU) signed in 2019 between Massimo Falcioni, CEO of Etihad Credit Insurance, and Ahmed Al Qassim, Senior Executive Vice President and Group Head, Corporate & Institutional Banking, Emirates NBD.
"We are very pleased to support the ‘Make it in the Emirates’ initiative, which aims to create a sense of pride in locally made products, through this strategic alliance with Emirates NBD. More than 80 per cent of world trade relies on trade finance, mostly of a short-term nature,” said Falcioni.
The partnership is in line with the UAE government’s ‘Make it in the Emirates’ initiative as it will boost the confidence of the financial sector to fund UAE companies towards their manufacturing, export, and expansion goals.
“Emirates NBD is delighted to join hands with ECI to support our nation’s businesses and enhance their competitive strengths. As the UAE looks to build ICV (in-country value), this is a critical time for local manufacturers and exporters looking to enhance their proposition on an international stage. As strategic contributors to the UAE economy, Emirates NBD’s partnership with ECI builds on our long-term commitment to deliver robust financing facilities and support to UAE businesses to boost their trade competitiveness and overall confidence,” said Ahmed Al Qassim.