16.2 billion dirhams, the size of the insured business in 2024

Al -Ittihad Export Credit Company announced its achievement and qualitative strategic achievements during the year 2024.

This came during a media briefing headed by the company’s executive president, Raja Al Mazrouei, in which she shed light on the annual report of the company, which showed the growth of the insured business volume, to reach 16.2 billion dirhams, with a growth rate of 15.7%, representing 2.85% of the total non -oil state exports.

These strong indicators embody the company’s strategic role in supporting and protecting exporters and investors in the UAE, through an integrated system of innovative credit solutions that include more than 100 countries and 17 vital sectors.

This comes at a time when the UAE’s non -oil foreign trade is witnessing continuous growth, as in 2024 it recorded unprecedented levels by reaching three trillion dirhams, achieving remarkable growth by 14.6%, compared to the previous year.

The company contributes pivotal to achieving the national ambitious path, represented in reaching 800 billion dirhams of non -oil national exports by the next decade, within the framework of the economic targets of the vision of “We Emirates 2031”.

In this regard, the “Union for Export Credit” has succeeded since its inception in facilitating export trade and investments with a cumulative value of 21 billion dirhams, achieving total assistant insurance installments amounting to 447 million dirhams, which reflects the strength of the insurance portfolio, and distinguishes the rates of retaining customers.

The Minister of Economy and Chairman of the Board of Directors of Al -Ittihad Export Credit Company, Abdullah bin Touq Al -Marri, stressed that “the UAE, thanks to the directives of its rational leadership, adopted innovative national strategies and visions, which contributed to enhancing the economic diversity that constitutes a basic pillar to build the new economic model based on knowledge and innovation, where the contribution of non -oil sectors in the gross domestic product reached 74.6%, which confirms, which confirms The pivotal role of these sectors in building the economy of the future ».

Bin Touq pointed out that the Etihad Export Credit Company plays a prominent role in pushing this vision ahead, by supporting the expansion of economic activities and local institutions, and enhancing strategic economic relations through quality partnerships and innovative credit solutions.

The report revealed that the company’s total credit coverage increased to 11 billion dirhams, exceeding its levels in 2023 by 14.58%. This qualitative leap is attributed to the expansion and diversity of the company’s portfolio, as small and medium -sized companies accounted for the largest share of the beneficiaries, with a rate of more than 60%.

Raja Al Mazrouei said: “Al -Ittihad Export Credit Company continues its firm commitment to advancing the sustainable economic growth in the UAE towards wider horizons and enhancing the capabilities of local exporters, especially small and medium -sized companies, to seize promising opportunities and expand global markets with confident pace, despite the increasing intensity of competition, by providing an integrated system of innovative credit solutions, Facilitating access to financing and enabling the fruitful strategic partnerships.