"Etihad Export Credit Company" has concluded an agreement with the Dubai Center for the Development of Islamic Economy, with the aim of supporting Emirati companies and increasing exports that comply with Islamic law, by providing export protection services to local companies.
In the Memorandum of Understanding, signed by the Executive Director of the Dubai Center for Islamic Economic Development, Abdullah Muhammad Al-Awar, and the CEO of Union Export Credit Corporation, Massimo Falcioni, the two parties agreed to work together to establish a steering committee that is responsible for the planning and supervision process for the implementation of any projects within the areas of cooperation Stipulated in the note.
The agreement will focus on promoting awareness about Islamic commercial credit solutions, protection against political risks, financing structures (based on takaful), and risk reduction tools that ETC can provide to companies, thereby contributing to enhancing their global competitiveness and supporting their export growth And entering new markets. It also provides for organizing and conducting awareness programs and workshops.
For his part, Abdullah Mohammed Al-Awar said: “Through its strategic partnership and the conclusion of the Memorandum of Understanding with the Union for Export Credit, the Dubai Center for Islamic Economic Development looks forward to enhancing the opportunities offered by the Islamic economy sectors to Emirati companies working in the field of exporting products compatible with Islamic law, and increasing The number of companies interested in investing in this field ».
He added: «The MoU supports the expansion of opportunities and opening global markets to products compatible with Islamic law, especially with the growth in demand for them, as it is one of the best in terms of standards.