The Banking Executive Magazine - June 2025 Issue

Etihad Credit Insurance Etihad Credit Insurance ANNOUNCES $47.38MLN FUNDING FOR SME GROWTH Etihad Credit Insurance announces $47.38mln funding for SME growth Etihad Credit Insurance (ECI), the UAE’s federal export credit company, announced the impact of its ‘Xport Xponential’ programme, which has helped raise AED 174 million in funding to support the growth of SMEs, during the closing ceremony of the programme. The working cap- ital was raised with the support of four of ECI’s banking partners: First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank. ECI also remains committed to securing simi- lar funding and capital for SMEs in collaboration with its other banking partners. The programme’s closing ceremony was held under the patronage of Ab- dulla Bin Touq Al Marri, the Minister of Economy and Chairman of the Board of Directors of Etihad Credit Insurance. The event aligns with the Ministry’s mission to develop a flexi- ble future economy and robust entre- preneurial ecosystem by facilitating investment and talent attraction. Bin Touq stated: “The ‘Xport Xponen- tial’ programme plays a pivotal role in advancing the UAE’s ongoing ef- forts to increase the contribution of small and medium-sized enterprises to the country’s non-oil GDP. It also directly supports the objectives of the ‘We the UAE 2031’ national strategy, which aims to increase non-oil ex- ports to AED 800 billion and expand foreign trade volume to AED 4 tril- lion by the next decade. Moreover, with export and re-export activities between the UAE and countries with which we have Com- prehensive Economic Partnership Agreements (CEPA), already exceed- ing AED 390.5 billion, the initiative leverages existing trade momentum to help SMEs unlock the untapped potential of these markets, particu- larly as the UAE continues to expand its economic and trade partnerships with key strategic markets world- wide.” On her part, Raja Al Mazrouei, CEO of Etihad Credit Insurance, high- lighted ECI’s role in empowering UAE-based businesses to compete on a global level. She stated that ‘Xport Xponential’ serves as a dy- namic platform for local businesses and potential importers to connect. Al Mazrouei further stated that the programme identifies high-potential export markets for a wide range of products, allowing small businesses to expand globally with greater ease and confidence. She added: “ECI’s ‘Xport Xponential’ programme aligns with the UAE’s strategic vision to diversify its rev- enue sources away from oil. It offers integrated financial and insurance solutions, particularly to SMEs, en- abling them to scale internationally, while mitigating major export-related risks.” Futoon Hamdan AlMazrouei, Group Head of Personal, Business, Wealth and Privileged Client Banking Group at First Abu Dhabi Bank (FAB), said: “First Abu Dhabi Bank is pleased to be a banking partner of “ECI’s Xport Xponential programme”, an initiative that reflects the UAE’s strategic vision for economic diversification and sus- tainable growth. We are strongly the BANKING EXECUTIVE 14 ISSUE 198 JUNE 2025