June 27, 2025
Dubai, UAE – June 25, 2025:
Etihad Credit Insurance (ECI), the UAE’s federal export credit company, has officially announced the impact of its flagship initiative, ‘Xport Xponential’, during a high-profile closing ceremony. The programme successfully raised AED 174 million in funding to support the expansion of small and medium-sized enterprises (SMEs) across the nation. This milestone was achieved through collaboration with four of ECI’s key banking partners: First Abu Dhabi Bank (FAB), Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank.
Strategic Support for a Future-Ready Economy
The closing ceremony was held under the patronage of H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy and Chairman of ECI’s Board. The event underscored the Ministry’s commitment to fostering a flexible, innovation-driven economy by nurturing entrepreneurship and attracting global investment.
H.E. Bin Touq emphasized the programme’s alignment with national goals, especially the ‘We the UAE 2031’ strategy, which targets AED 800 billion in non-oil exports and AED 4 trillion in foreign trade by the next decade. He noted that with trade under the UAE’s Comprehensive Economic Partnership Agreements (CEPAs) already exceeding AED 390.5 billion, ‘Xport Xponential’ is a timely intervention to unlock further export potential, especially for SMEs.
Empowering UAE-Based SMEs for Global Growth
Speaking on the programme’s success, H.E. Raja Al Mazrouei, CEO of ECI, highlighted the initiative as a platform for connecting local businesses with new markets and global buyers. She noted that the programme has played a pivotal role in identifying high-potential export destinations and empowering businesses to expand internationally with confidence. The initiative also offers comprehensive financial and insurance solutions, allowing SMEs to grow while minimizing export-related risks.
Banking Partners Reinforce Commitment to SME Sector
The AED 174 million in working capital was made possible by ECI’s strategic partnerships with leading banks:
- FAB’s Futoon Hamdan AlMazrouei emphasized the bank’s commitment to supporting the UAE’s long-term economic diversification goals through access to trade finance and SME-focused funding.
- Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, praised the programme for creating tangible economic impact and reaffirmed CBD’s ongoing support for the SME sector.
- Mustafa Al Khalfawi, CEO of Ajman Bank, lauded the programme’s alignment with both Ajman Vision 2030 and the national growth agenda, highlighting the importance of Sharia-compliant trade finance in supporting sustainable development.
- Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, noted that the bank’s digital-first approach complements the programme’s goal of simplifying international expansion for exporters.
Programme Achievements and Future Outlook
Launched during the ‘Make It in the Emirates’ (MIITE) event in May 2024, ‘Xport Xponential’ was designed to help SMEs expand globally and secure export-readiness through innovative trade finance and credit insurance. Out of 42 applicants, 10 high-performing companies were selected based on strict evaluation criteria. These businesses, which have collectively achieved AED 2.1 billion in turnover, are now targeting export opportunities worth AED 31.3 billion in key markets including India, Indonesia, Saudi Arabia, and Oman.
The programme spans ten vital economic sectors and was delivered in collaboration with 19 strategic partners, including prominent federal and local government entities such as:
- Abu Dhabi Department of Economic Development
- Khalifa Fund for Enterprise Development
- Dubai Department of Economy and Tourism
- Sharjah Chamber of Commerce and Industry
- Ras Al Khaimah Economic Zones
- Fujairah Department of Industry and Economy, and others.
Financial partners also included Emirates Development Bank, Abu Dhabi Commercial Bank, RAKBANK, Wio Bank, and Reem Finance.
A Growing Ecosystem of Export Support
Since launching the programme, ECI has witnessed a 27% increase in partnerships with government and banking institutions—reflecting its central role in building a strong, export-enabled SME ecosystem. Additionally, a workshop held in January 2025 equipped the shortlisted businesses with essential resources to advance their export strategies.
To date, ECI has insured AED 21 billion in UAE exports and underwritten AED 447 million in insurance premiums, reinforcing its position as a key driver of non-oil economic diversification.
Conclusion
With initiatives like ‘Xport Xponential,’ Etihad Credit Insurance continues to lead from the front in supporting SMEs, enabling them to tap into global markets and contribute significantly to the UAE’s non-oil economy. The successful partnership between ECI, government stakeholders, and the banking sector demonstrates the power of public-private collaboration in building a resilient and diversified economic future.
