The Banking Executive Magazine - June 2025 Issue

Etihad Credit Insurance aligned with the Ministry of Econ- omy’s mission to foster a flexible, fu- ture-ready economy and a vibrant entrepreneurial ecosystem by en- abling investment and attracting top talent. By empowering SMEs with ac- cess to working capital and innova- tive trade finance solutions, we are unlocking new opportunities for global growth. The programme strengthens the UAE’s competitive- ness and supports its ambition to ex- pand trade across strategic international markets.” On the collaboration, Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, stated: “Commercial Bank of Dubai is proud to be a foundational partner in ECI’s Xport Xponential pro- gramme. With a legacy of over five decades in backing the growth of the UAE, we continue to demonstrate our commitment today by empower- ing the nation’s vibrant SME sector and creating tangible impact that supports the economic diversifica- tion and global competitiveness of the UAE. We look forward to contin- uing our work with ECI to unlock even greater opportunities for busi- nesses across the Emirates, building on the significant momentum al- ready achieved.” Mustafa Al Khalfawi, CEO of Ajman Bank, said: “We are proud to be part of the ‘Xport Xponential’ programme in collaboration with Etihad Credit Insurance, which represents a signif- icant milestone in empowering SMEs to access new growth frontiers. Our participation reflects Ajman Bank’s unwavering commitment to support- ing the UAE’s national agenda, par- ticularly Ajman Vision 2030 and We the UAE 2031, by providing Sharia- compliant financing solutions that enable local businesses to scale in- ternationally. The AED 174 million in funding collectively raised through this initiative is a powerful testament to the strength of public-private sec- tor collaboration. We will continue to build on this momentum by en- abling innovative trade finance and expanding our role as a catalyst for sustainable economic development.” Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, commented: “We are proud to part- ner with Etihad Credit Insurance on the ‘Xport Xponential’ programme, which represents a significant mile- stone in empowering the UAE’s SMEs to access global markets with confi- dence. At Al Maryah Community Bank, we are committed to offering fully digital, fast, and innovative fi- nancing solutions that simplify ex- porters’ daily operations and enhance their global competitive- ness. This initiative not only aligns with the UAE’s vision to diversify its econ- omy and boost non-oil exports but also opens new opportunities for local businesses in vital sectors to thrive internationally. We look for- ward to continuing our collaboration with ECI to ensure that manufactur- ers and exporters are equipped with the tools, knowledge, and capital they need to scale beyond borders.” The ‘Xport Xponential’ programme was launched to fulfil the dual objec- tives of catalysing SMEs’ global ex- pansion and driving SME financing with the help of partner banks. It was introduced during the third edition of ‘Make It in the Emirates’ (MIITE), held in May 2024, with the aim of accel- erating the global expansion of UAE- based SMEs by offering financial support and ensuring their export readiness through innovative trade fi- nance and credit insurance solutions. As many as 42 companies applied for the programme, out of which 10 were shortlisted based on rigorous evaluation criteria. These companies have collectively generated AED 2.1 billion in turnover to date and are now targeting expansion into four key markets—Indonesia, India, Saudi Arabia, and Oman—with a com- bined export potential of AED 31.3 billion over the next four years across ten vital sectors. Implemented in col- laboration with 19 strategic partners, the programme exemplifies ECI’s role in driving sustainable economic growth by connecting businesses with international opportunities and tailored trade finance solutions. Since the programme’s inception, ECI’s partnerships with government entities and banks have increased by 27 per cent, reflecting its role in nur- turing a robust export-enablement ecosystem that connects the public and private sectors under a unified vision. Partnerships with leading fi- nancial institutions have helped fa- cilitate consistent, reliable support and access to growth-oriented fund- ing for UAE SMEs. ECI also hosted a workshop in January 2025 to offer the selected companies’ essential tools and resources, further support- ing their export growth journey. In addition, these companies belong to diverse economic sectors, showcas- ing the program’s wide-reaching im- pact across key industries. Xport Xponential’s vast partner list features 19 key strategic partners, in- cluding both federal and local enti- ties, which are: the Abu Dhabi Department of Economic Develop- ment, Khalifa Fund for Enterprise De- velopment, Dubai Department of Economy and Tourism, Dubai Airport Free Zone, Sharjah Chamber of Commerce and Industry, Ajman De- partment of Economic Development, Ras Al Khaimah Economic Zones, as well as Fujairah Department of In- dustry and Economy. Its financial and banking partners in- clude Emirates Development Bank, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, RAKBANK, National Bank of Fujairah, Interna- tional Development Bank, Wio Bank, Al Maryah Community Bank and Reem Finance. It is also worth noting that since its inception, ECI has insured AED 21 billion in sup- port of local exports and completed underwriting for premiums totalling AED 447 million. ISSUE 198 JUNE 2025 the BANKING EXECUTIVE 15