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Aden - Yasmine El Tohamy - Etihad Credit Insurance (ECI) has signed a Memorandum of Understanding (MoU) with HSBC to help UAE businesses and exporters access global markets, which will give them a platform for sustainable growth and development over the long-term.
The MoU was signed by Massimo Falcioni, CEO of Etihad Credit Insurance, and Abdulfattah Sharaf, CEO, UAE and Head of International, HSBC, in the presence of senior officials from the two institutions.
The collaboration between ECI and HSBC underlines ECI's mandate to manage risks associated with trade expansions regionally and internationally by offering a broad range of trade export finance and insurance solutions to UAE businesses in exploring new marketplaces. This partnership will bring focus on areas that include trade credit insurance tools; corporate financing; a broad range of financing solutions; bond support; exchange of industry trends and market insight; Letters of Credit Confirmations; and insightful workshops and forums, among others.
Massimo Falcioni, CEO of ECI, said: "ECI has a well-defined objective to contribute to the sustainable growth and development of the country's non-oil sectors and enhance the export reach of UAE goods and services. Equipped with cutting-edge industry knowledge, and tailored solutions, we are on the constant lookout for opportunities, that will offer greater scope for UAE businesses in consolidating their presence regionally and internationally. Our collaboration with HSBC is a pivotal step in ?the banking sector as it offers a secure, transparent, and efficient platform for UAE-based businesses to grow and expand."
Abdulfattah Sharaf, group general manager, chief executive officer, UAE and head of International, HSBC Bank Middle East, said: "The UAE is the Middle East's leading international trading hub and we see huge potential here, just as we did 73 years ago when we opened the country's very first bank. We have supported the UAE's economic development ever since and, as the world's leading international bank, we look forward to working closely with ECI to help UAE exporters reach more customers around the world."
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