ECI outlines economic outlook as it launches Islamic trade solution
Earlier this week, the ECA of the UAE, Etihad Credit Insurance (ECI), joined TXF MENA Virtual 2020 to share the latest economic outlook of the Middle East and launch its Islamic trade solution.
Massimo Falcioni, CEO of ECI, honed in on the UAE region and the specific steps that the ECA has taken towards sustaining economic recovery amid the global Covid crisis, from issuing more than 1600 revolving credit guarantees covering over $1.2 billion exports, to its strategic partnerships with both local and international banks to provide additional funding capacity.
In launching its Islamic trade solution, Zishan Iqbal, director of Murabaha Solutions, ECI, outlined how the venture will support corporates and financial institutions in the Islamic sector, while sharing risk via a shareholder fund and a policyholder fund.
