Etihad Credit Insurance receives AA- rating with stable outlook from Fitch Ratings
Etihad Credit Insurance (ECI), the UAE's Federal Export Credit company, has secured an Insurer Financial Strength (IFS) Rating of 'AA-' (Very Strong) and Long-Term Issuer Default Rating (IDR) of 'AA-' with Stable Outlooks from Fitch Ratings, a leading provider of credit ratings, commentary, and research for global capital markets.
This prestigious rating underscores ECI's pivotal role in accelerating the UAE's economic diversification and reinforcing its global trade leadership. It also aligns with the Long-Term IDR of the United Arab Emirates (UAE; AA-/Stable), reflecting the UAE's robust economic policies and strategic initiatives to foster a dynamic, future-ready economy.
H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of the Board of Directors of Etihad Credit Insurance, affirmed that the UAE, driven by the guidance of its wise leadership, has grown into a strong economy that relies on diverse resources and is capable of adapting to global changes. According to H.E., the nation has adopted flexible and proactive economic policies and strategies, that have been instrumental in promoting the competitiveness of national products in foreign markets, encouraging economic accessibility to the world, building meaningful partnerships with numerous regional and international markets, and increasing the non-oil sector's contribution to the national GDP by 75 per cent.
Praising ECI's high credit rating, H.E. Bin Touq said: 'ECI's favourable rating from Fitch ratings demonstrates the confidence of business communities in the national economy, and promotes its reputation regionally and globally, thereby consolidating the country's position as a leading hub for business and trade. In keeping with the 'We the UAE 2031' initiative, which aims to increase the country's GDP to AED 3 trillion by the next decade and increase non-oil exports to AED 800 billion, the latest milestone highlights our national efforts to strengthen the company's crucial role in creating a competitive environment for exporters and importers, while helping increase the momentum of export and re-export activities of UAE-based companies.'
Many factors have contributed to ECI's latest milestone, including government support, especially as the UAE's federal export credit agency, coupled with its capital strength and the absence of any financial constraints. Other key determinants also included the company's robust reinsurance program, its unparalleled expertise in the field, and the capacity to insure the risks associated with UAE foreign trade.
H.E. Raja Al Mazrouei, CEO of ECI, underlined that this rating is one of the highest rates offered by specialised agencies, making it a new gauge of the company's financial performance and risk tolerance strength. This success, Her Excellency said, is the outcome of ECI's strategic roadmap, which aims to increase the volume of credit assistance provided to manufacturers and exporters. 'The AA-rating further helps ECI provide its services and solutions more effectively worldwide, boosts national export competitiveness, and makes it easier for Emirati products to reach targeted global markets,' H.E. Al Mazrouei added.
Since its inception, Etihad Credit Insurance has played a crucial role in supporting the national economy and non-oil foreign trade. By enabling local trade and manufacturing activities, empowering entities with tools to protect against trade and political risks, reducing the cost of trade financing, facilitating project financing, and allowing access to trade financing solutions and international markets, ECI continues to advance national economic goals with its broad portfolio of comprehensive services.
-Ends-
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
5 hours ago
- Khaleej Times
Dubai's off-plan market booms as Business Bay leads luxury sales surge
Dubai's real estate market is witnessing an unprecedented surge in off-plan property sales, with Business Bay emerging as a top-performing district driven by a new wave of investor confidence, luxury developments, and lifestyle-focused living concepts. In the second quarter of 2025, Business Bay alone registered over Dh4.5 billion in off-plan transactions, accounting for more than 1,900 deals—firmly cementing its reputation as one of the city's most sought-after investment hubs. The broader Dubai property market continues to ride a bullish wave. In May 2025 alone, the emirate recorded Dh66.8 billion in total real estate sales spread across 18,700 transactions—representing a 44 per cent increase in value and a 6 per cent rise in transaction volume compared to the same month in 2024, according to data from the Dubai Land Department (DLD). Business Bay contributed 5 per cent to this total sales value, despite comprising only 3 per cent of the transaction volume, underlining the premium nature of properties in the area. Located strategically between Downtown Dubai and the Dubai Canal, Business Bay offers unmatched accessibility and connectivity, with proximity to Sheikh Zayed Road, Dubai Metro, DIFC, and major leisure and business centres. The district's central location, skyline views, and thriving mixed-use developments have made it a magnet for local buyers and global investors alike. V. Sivaprasad, chairman of Condor Developers, said what is particularly noteworthy is the rising appetite for off-plan properties—especially in prime neighbourhoods like Business Bay, Downtown, Jumeirah Village Circle, and Dubai Marina. 'There is a convergence of factors driving this trend: attractive pricing compared to ready properties, extended post-handover payment plans, branded residence offerings, and an optimistic long-term outlook for Dubai's economy,' said Sivaprasad According to the Dubai Residential Market Snapshot by CBRE, off-plan sales in Dubai rose by over 46 per cent year-on-year during the first five months of 2025, reflecting buyers' preference for newer, design-forward developments. The surge is also fuelled by the increasing popularity of branded residences, a niche segment that blends global hospitality standards with real estate investment. These projects not only offer premium amenities and services but also fetch higher resale values and rental yields. Business Bay has become the epicentre of this trend. One of the most anticipated new offerings is the luxury branded residence project by QUBE Development in collaboration with The Lux Collective, a global hospitality group renowned for its flagship brand LUX. The development, promising a seamless fusion of urban luxury, privacy, and five-star hotel services, is expected to redefine contemporary living in the heart of the city. Jayakrishnan Bhaskar, CEO of Ozon Marketing, a realty consultancy firm, said that Dubai's resilient economy, strong investor appetite, and visionary leadership continue to drive forward-looking real estate concepts that cater to the evolving tastes of modern buyers. He said Business Bay's ability to attract both capital growth seekers and rental income investors is linked to its evolving infrastructure and a steady stream of high-end launches. With average annual returns exceeding 7 per cent in certain developments, the area consistently ranks among Dubai's top-performing investment destinations. Knight Frank's latest UAE Property Market Review notes that Business Bay saw a 22 per cent year-on-year increase in off-plan property prices in Q2 2025, compared to a 15 per cent rise across Dubai. The report credits this growth to a combination of branded real estate launches, enhanced waterfront developments, and a steady inflow of international high-net-worth individuals (HNWIs) taking advantage of Dubai's tax-free status and investor-friendly visa reforms. According to realty experts, the Golden Visa programme, which grants long-term residency to investors, entrepreneurs, and skilled professionals, has been a significant factor driving demand in the off-plan segment. Several developers are now aligning their projects with eligibility criteria, offering buyers a streamlined path to secure long-term residency alongside their investment. While concerns over global inflation, interest rates, and geopolitical headwinds persist in international markets, Dubai appears increasingly insulated due to its strong fiscal policies, currency stability, and a consistent flow of tourism and foreign direct investment. The real estate market remains a cornerstone of this economic resilience, with off-plan sales forming the engine of future growth. As the second half of 2025 begins, industry insiders expect the off-plan boom to continue, especially in high-demand zones like Business Bay, Dubai Creek Harbour, and Mohammed Bin Rashid City. Developers are ramping up launches to meet demand, while buyers are showing greater willingness to commit early in the development cycle, lured by flexible terms and the promise of luxury living.
Arabian Business
5 hours ago
- Arabian Business
Dubai launches first-time home buyer programme with priority access, prices on properties up to $1.36m
Dubai will offer incentives and support to first-time home-buyers as it looks to boost real estate investment in the city. Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET) have officially launched the First-Time Home Buyer Programme, offering priority access to new off-plan launches, preferential pricing, and tailored mortgage solutions to eligible UAE residents. The initiative targets both Emiratis and expats and is designed to support the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33, which aims to double the size of Dubai's economy and real estate sector's contribution to GDP over the next decade. First-time Dubai real estate investors The programme offers enhanced commercial terms on properties valued up to AED5m ($1.36m). It is open to UAE residents aged 18 and over who do not currently own a freehold residential property in Dubai, and is available to all nationalities and income levels. Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said: 'This initiative represents a powerful economic lever—stimulating long-term demand, driving liquidity into the real estate ecosystem, and accelerating the sector's contribution to GDP in line with the Dubai Economic Agenda, D33. 'By lowering entry barriers to homeownership for Emiratis and expatriates alike, we are enhancing investor confidence, increasing market absorption rates, and reinforcing Dubai's global positioning as a city where personal aspirations and business ambitions converge. 'In a global climate where housing accessibility is a structural challenge, Dubai is offering a model of sustainable urban development—one that supports talent retention, fosters community cohesion, and enhances the city's competitiveness as a place to live, work, and invest. Buyers will receive priority access to units from Dubai's top real estate developers, including Emaar Properties Nakheel Meraas DAMAC Properties Dubai Properties Azizi Developments Ellington Binghatti Majid Al Futtaim Participating banks such as Emirates NBD, Mashreq, Dubai Islamic Bank, Emirates Islamic, and Commercial Bank of Dubai will offer customised mortgage products tailored to the programme's criteria. Omar Bu Shehab, Director General of Dubai Land Department (DLD), said: 'The First-Time Home Buyer programme embodies Dubai's strategic vision for a more inclusive, transparent, and accessible real estate market. 'By easing entry into homeownership, we empower individuals and families to invest in their futures while supporting the Dubai Real Estate Strategy 2033's broader objectives and Dubai Economic Agenda D33. 'This initiative is a key driver of market resilience and positions Dubai as a global benchmark for sustainable urban development.'
Arabian Business
5 hours ago
- Arabian Business
UAE announces world's first regulatory framework for hybrid eVTOL operations
The General Civil Aviation Authority (GCAA) has issued the world's first regulatory framework for hybrid operations, enabling both electric Vertical Take-Off and Landing aircraft (eVTOLs) and conventional helicopters to operate interchangeably on the same infrastructure. The regulatory framework integrates Advanced Air Mobility (AAM) solutions into existing aviation systems. It offers a cost-effective model for infrastructure development, accelerates operational readiness, and aligns with the UAE government's directives to implement high-efficiency, non-bureaucratic solutions across various sectors. World's first eVTOL hybrid operations framework launched by UAE GCAA 'The UAE has always been at the forefront of excellence in aviation. This pioneering regulatory framework does not merely enable new technology; it redefines how aviation evolves. It reflects our commitment to innovation in developing a supportive ecosystem for the growth of this vital sector and a future where advanced air mobility is seamlessly integrated into our national infrastructure,' Saif Mohammed Al Suwaidi, Director-General of the GCAA said. The hybrid operations framework results from close collaboration with international partners in the advanced air mobility sector and is fully aligned with the UAE's national vision for sustainability, smart mobility, and optimised infrastructure use. By enabling dual-use between conventional helicopter pads and electric vertical takeoff and landing pads, this initiative helps accelerate implementation timelines, optimises infrastructure utilisation, and cements the UAE's position as a leader in fostering an integrated ecosystem supporting the future of aviation. Aqeel Al Zarouni, Assistant Director-General for Aviation Safety Affairs at the GCAA, added that this framework is a strategic enabler, not only for new modes of transport but for a smarter, more flexible regulatory environment that keeps pace with emerging technologies without compromising safety standards.
