Etihad Credit Insurance (ECI), the UAE’s Federal export credit company, has partnered with the Hamriyah Free Zone Authority (HFZA) and the Sharjah Airport International Free Zone Authority (SAIF Zone) to support Sharjah exporters and re-exporters to start and grow their international business and secure their receivables globally.
As per the agreement, Etihad Credit Insurance will offer its range of flexible trade credit insurance and financial solutions – including its Sharia-compliant insurance product ‘ECI Islamic’ – to start-ups and small-and-medium enterprises (SMEs) operating in the two free zones.
The MoU reflects the shared commitment of the state-owned organizations to developing a supportive environment for business and accelerating the UAE’s economic diversification agenda by championing pioneering projects and emerging industries.
Through this collaboration, they will jointly conduct seminars and workshops to educate the UAE business community about the benefits of trade protection solutions of Etihad Credit Insurance.
By providing country risk reports and in-depth market intelligent services, ECI will also help the companies in the free zones to successfully carry out export to foreign countries as well as identify and flourish in new growth markets around the world confidently.
ECI said initiative will boost the exports from Sharjah, one of the key manufacturing and industrial hubs in the region, and a major contributor to UAE’s non-oil GDP and national employment.
The Memorandum of Understanding (MoU) was signed by Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority and Sharjah Airport International Free Zone Authority and Massimo Falcioni, CEO of Etihad Credit Insurance, in the presence of senior officials of both entities.
Al Mazrouei said, “Our agreement with UAE Federal export credit company is a major effort in unlocking new avenues of financing for companies seeking to open operations in Sharjah. It signifies our collective vision to nurture an entrepreneurial ecosystem in Sharjah, thereby contributing to the sustainable economic growth of the UAE.”
Falcioni added, “In line with our strategy to accelerate the UAE’s economic diversification and non-oil trade agenda, ECI is helping to enhance the bankability of SMEs, start-ups and innovative projects launched by younger entrepreneurs across the country.”