Export credit agencies of UAE, India join hands to enhance trade, economic cooperation 

الإمارات والهند تعززان العلاقات التجارية وفرص ائتمان الصادرات المشتركة

Alliance to create prospects for mutual strategic projects between the UAE and India Agreement to give a boost to companies and exporters between the two countries, enhancing their economic ties The partnership provides a platform to identify new business opportunities and develop new partnerships in the UAE Etihad Credit Insurance (ECI), the UAE Federal export credit company, has partnered with ECGC Limited (ECGC), the premier export credit agency of India, to explore and bolster the trade and economic cooperation between the UAE and India. In a Memorandum of Understanding (MoU)…

SMEs in UAE receive more than AED 420 million trade credit

الاتحاد لائتمان الصادرات تؤمّن معاملات تجارية لشركات صغيرة ومتوسطة

 support in first 11 months of 2020 from Etihad Credit Insurance, translating into AED 1 billion secured turnover  Guarantees issued by ECI helped protect liquidity of SMEs and reduce their cost of funds amidst this challenging economic cycle These facilities allow SMEs to request their preferred bank to discount invoices at preferential rate ECI is the first government export credit company in Middle East and Africa to offer UAE SMEs an online trade credit solution to secure trade and export to more than 50 countries Etihad Credit Insurance (ECI), the…

His Excellency Dr. Thani bin Ahmed Al Zeyoudi praises ECI’s high score of AA  rating with stable outlook from Fitch Ratings as vital to boosting the global competitive edge of UAE businesses

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade and Deputy Chairman of the Board of Directors of ECI, praised the efforts of Etihad Credit Insurance (ECI), the UAE Federal export credit company after it has been assigned with Insurance Financial Strength (IFS) Rating and an Issuer Default Rating (IDR) of AA- (Very Strong) with Stable Outlook from Fitch Ratings, for the second year. His Excellency said that the high rating received by ECI reflects the Federal export credit company’s unyielding commitment to help…

Meezan Bank inks deal with BPC Banking Technologies

بنك ميزان يتعاقد مع شركة “بي بي سي بانكينج تكنولوجيز”

to accommodate Pakistan’s digital payments boom Pakistan’s largest Islamic bank kicks off its digital transformation programme with the upgrade of its legacy payment platform Partnership will also see BPC combat the growing threat of Enterprise Fraud and will help Meezan Bank establish its merchant acquiring business Dubai, United Arab Emirates – 27th October 2020 – BPC Banking Technologies, the leading provider of digital payment solutions, has partnered with Pakistan’s Meezan Bank to deliver its digital transformation agenda starting with the upgrade of its payment infrastructure. BPC’s SmartVista platform has been…

UAE and Uzbekistan to enhance economic cooperation

UAE and Uzbekistan to enhance economic cooperation,

 boost joint export credit opportunities The export credit agencies (ECAs) of the UAE and Uzbekistan have agreed to bolster and reinforce the trade and economic alliance between the two countries by exploring and boosting opportunities in the export of goods and services. This follows UAE and Uzbekistan’s last month announcement of their expanded partnership to include economy, manufacturing, and business incubators through implementing 147 initiatives developed by the UAE Government in Uzbekistan. The Memorandum of Understanding (MoU) between Etihad Credit Insurance (ECI), the UAE Federal export credit company, and Uzbekistan…

Al Zeyoudi visits Etihad Credit Insurance office

Dubai, UAE, October 25, 2020: His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade – following his appointment as new Deputy Chairman of the Board of Directors of Etihad Credit Insurance (ECI) – visited ECI’s branch in Dubai. During the visit, H.E. congratulated the ECI management for the achievements recorded by the multi-awarded locally and internationally fast-growing Federal government company, and discussed its strategic role in boosting the competitiveness of the country’s businesses, in line with UAE’s goal to accelerate and sustain national diversification.…

ECI secures AED4 billion of non-oil trade in H1 2020  to accelerate UAE exporters’ recovery, ensure business continuity and competitiveness  

ECI secures AED4 billion of non-oil trade in H1 2020

ECI provides over 1,400 revolving credit guarantees for a total exposure amount of AED1.2 billion, which is equivalent to approximately AED 4 billion guaranteed payments for non-oil trade to more than 70 countries from January to June 2020 The top beneficiaries, sectors-wise, are cable, steel, petrochemicals, healthcare, automotive, building materials and food 55% of the total revolving credit limits were issued to large private exporters and 17% to SMEs, while the remaining 38% were issued in favor of UAE Government companies To further support exports, ECI increases payment protections, relaxes…

Standard & Poor’s Reaffirms IGI’s A- Rating With Stable Outlook

LONDON–(BUSINESS WIRE/AETOSWire)– Standard & Poor’s (S&P) Global Ratings has confirmed the financial strength rating of A- with a stable outlook for International General Insurance (IGI), the global specialist commercial insurer and reinsurer. IGI also had its long-term issuer credit rating of A- reaffirmed by S&P. Both ratings remain unchanged from 2018. “We are delighted to have our A-/Stable rating confirmed,” said Wasef Jabsheh, Vice Chairman and Chief Executive Officer at IGI. “IGI works hard to maintain a truly global company, with strong results, excellent management and sensible underwriting, matched with…