Etihad Credit Insurance to provide RAKEZ members access to flexible state-backed trade finance support
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has partnered with Ras Al Khaimah Economic Zone (RAKEZ) to support the emirate’s path towards economic diversification by stimulating its non-oil foreign trade, it was revealed in a press communique.
The Memorandum of Understanding (MoU) came as part of ECI’s continuing effort to support Ras Al Khaimah’s strategy to boost its burgeoning export activities.
As of November 2022, ECI has facilitated AED 261mn (US$ 71.06mn) worth of secured non-oil trade for businesses operating in the emirate.
The agreement was signed by Ramy Jallad, Group CEO, RAKEZ, and Massimo Falconi, CEO, Etihad Credit Insurance.
“This move to support the businesses operating in RAKEZ will likewise advance the emirate’s industrial strategy,” remarked Jallad.
“This will open up excellent opportunities to promote the culture of entrepreneurship in the emirate, by giving them better access to state-backed trade finance support,” commented Falconi.
Through this partnership, ECI will provide RAKEZ members access to flexible state-backed trade finance support, the press statement concluded.
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