ECI and Al Maryah Community Bank Sign MoU to Elevate ‘Xport Xponential’ Initiative and Drive Economic Growth
Etihad Credit Insurance (ECI), the UAE’s Federal Export Credit Company, has signed a Memorandum of Understanding (MoU) with Al Maryah Community Bank, the first fully digital bank licensed by the Central Bank of the UAE (CBUAE). The partnership marks a significant milestone for the ‘Xport Xponential’ initiative, designed to empower UAE manufacturers and exporters, strengthen the national economy, and support the diversification of the country's resources.
H.E. Raja Al Mazrouei, CEO of ECI, expressed the importance of the collaboration, stating, “Our partnership with Al Maryah Community Bank is pivotal in advancing the Xport Xponential initiative. This initiative plays a crucial role in enhancing the UAE’s economic growth and exploring new avenues for UAE-based export and re-export businesses. With Al Maryah Community Bank as a key partner, we are confident that the partnership will provide innovative financial solutions and expanded credit facilities to facilitate access to international markets.”
Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, added, “We are proud to collaborate with ECI through the ‘Xport Xponential’ initiative, which aims to simplify and digitalize financing for exporters and re-exporters. This partnership will not only strengthen the competitiveness of UAE exports but also enable businesses to confidently enter global markets. We are committed to supporting manufacturers and exporters with the tools, knowledge, and financing they need to succeed internationally.”
This strategic partnership will unlock additional financial resources for UAE-based export and re-export companies, expanding the variety of available credit solutions. It will also improve access to markets within nations participating in the Comprehensive Economic Partnership Agreements (CEPA) program. The ‘Xport Xponential’ initiative will continue to benefit from strategic collaborations with both public and private sector partners, offering an array of services including credit solutions, consulting, risk management strategies, and access to a global database of over 400 million companies.
As part of the agreement, Al Maryah Community Bank joins a growing list of Xport Xponential partners, including prominent entities such as the Abu Dhabi Department of Economic Development (ADDED), Khalifa Fund for Enterprise Development (KFED), Department of Economy and Tourism in Dubai, and Sharjah Chamber of Commerce and Industry (SCCI), as well as various national financial institutions including the Emirates Development Bank (EDB), Abu Dhabi Commercial Bank (ADCB), and more.
