Etihad Credit Insurance signs MoU with Al Maryah Community Bank to boost Xport Xponential initiative

The Emirates Federal Export Credit Company (ECI) has signed a Memorandum of Understanding with Al Maryah Community Bank, the first local digital bank licensed by the Central Bank of the UAE. This collaboration aims to unlock additional financing avenues for export and re-export companies in the UAE and further expand the range of available credit solutions.

This agreement positions Al Maryah Community Bank as a key partner in ECI's "Xport Xponential" program. This program is designed to enhance the potential of UAE manufacturers and exporters, strengthen the national economy, and diversify national resources. ECI CEO, Raja Al Mazrouei, stated that the collaboration with Al Maryah Community Bank is a crucial milestone in supporting the Xport Xponential program, which will drive economic expansion in the UAE and open new growth avenues for UAE export and re-export businesses, enabling them to access international markets more smoothly.

Al Mazrouei added, "We are delighted to have Al Maryah Community Bank as part of this program and believe that our collaboration will establish a comprehensive framework to enhance financing options and expand the customer base by providing innovative financial solutions and credit facilities." Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, stated, "This initiative will promote the growth of UAE exports, support its competitiveness, and create new opportunities for exporters in key domestic sectors, aligning with the UAE's 2031 vision. Through this partnership, we will help these businesses enter global markets with greater confidence."

Furthermore, the Xport Xponential program leverages strategic collaborations with regional partners in both the public and private sectors to provide businesses with comprehensive facilities and resources, such as innovative credit and financing solutions, strategic advisory, guidance from export experts, risk management strategies, and access to a database of over 400 million global companies. The program also aims to facilitate market access for countries participating in the Comprehensive Economic Partnership Agreement (CEPA) program.

Al Maryah Community Bank now joins the list of Xport Xponential partners, which includes several prominent federal and local entities, as well as a number of financial institutions, including the Emirates Development Bank (EDB), Abu Dhabi Commercial Bank (ADCB), and First Abu Dhabi Bank (FAB). This partnership will provide additional sources of financing for export and re-export companies in the UAE and further expand the range of available credit solutions.