Etihad_Credit_Insurance

Etihad Credit Insurance

Etihad Credit Insurance

United Arab Emirates public bank

Etihad Credit Insurance (ECI) (Arabic: الإتحاد الائتمان الصادرات) is the official export credit agency of the United Arab Emirates.[1] The agency "aims to support the economic diversification by guaranteeing commercial and non-commercial risks associated with export and re-export of goods and services".[2]

Quick Facts Agency overview, Formed ...

Founded in February 2018, the ECI is a public joint stock company wholly owned by the UAE federal government and the governments of the emirates of Abu Dhabi, Dubai, Ajman, Ras Al Khaimah, and Fujairah.[3] In 2021, ECI was voted as a permanent member of the Berne Union.[4]

Offices

THE ECI's main office is in the UAE capital of Abu Dhabi, and operates a second office in Dubai. [5] ECI also has plans to open risk offices internationally, with a focus on markets for Islamic banking products. [6]

Agreements

According to the ECI's annual report, the company extended non-oil support of $3.1 billion, to 92 counties in 2021, covering 18 sectors. [7] Top destinations for UAE exports included Saudi Arabia, Iraq, India, Oman, Kuwait, and Jordan.

Non-Oil Industry Support

The ECI's main objective is supporting the diversification of the UAE's economy by supporting non-oil export and imports, and major industries supported in 2020 included the chemical industry, steel, construction, cables, food, packaging, electronics, healthcare and printing [8]

See also

References

  1. [1]
    Nair, Deepthi (3 April 2022). "Etihad Credit Insurance support to UAE exporters surges 128% as non-oil trade rises". The National. Retrieved 17 May 2022.
  2. [2]
    Etihad Credit Insurance. "About ECI". About ECI.
  3. [3]
    "Etihad Credit Insurance". Etihad Credit Insurance (ECI). devex News. 2016. Retrieved 17 May 2022.
  4. [4]
    Olano, Gabriel (15 October 2021). "Etihad Credit Insurance voted as permanent member of Berne Union". Insurance Business Asia. Retrieved 17 May 2022.
  5. [5]
    "About Us". ECI About Us. ECI. Retrieved 17 May 2022.
  6. [6]
    Wragg, Eleanor (7 October 2019). "ECI: Building an export credit agency from the ground up in the UAE". ECI: Building an export credit agency from the ground up in the UAE. Global Trade Review. Retrieved 17 May 2022.
  7. [7]
    Nair, Deepthi (3 April 2022). "Etihad Credit Insurance support to UAE exporters surges 128% as non-oil trade rises". The National. Retrieved 17 May 2022.
  8. [8]
    Wragg, Eleanor (7 October 2019). "ECI: Building an export credit agency from the ground up in the UAE". ECI: Building an export credit agency from the ground up in the UAE. Global Trade Review. Retrieved 17 May 2022.
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