The UAE's federal credit insurance company, Etihad Credit Insurance (ECI), has signed a memorandum of understanding (MoU) with the corporate banking division of Emirates NBD, that aims to improve access to letters of credit (L/Cs) for the bank's customers.

Under the MoU, ECI will provide export insurance services to UAE companies with the aim of enabling them extend their global reach.

Trade finance solutions

This partnership will provide UAE-based firms with access to ECI's comprehensive range of trade credit insurance solutions and Emirates NBD's customised corporate banking customised products, including several trade finance solutions.

These include trade receivables, discounting, pre-shipment, export funding, surety bonding as well as advisory services.

L/C confirmation

The collaboration between ECI and Emirates NBD will also focus on areas that include trade credit risk management solutions.

These include export financial tools, surety bonds, export financing, small- and medium-sized enterprise financing, aircraft financing, corporate financing, bond support and L/C confirmation.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.