UAE’s export credit agency, Etihad Credit Insurance (ECI) has signed a Memorandum of Understanding (MoU) with leading artificial intelligence of things (AIoT) smart solution provider, Terminus Group in order to strengthen the Chinese company’s trade-related digital infrastructure projects in the Emirates.
According to the statement, the agreement intends to create bespoke credit insurance solutions in order to enhance the bankability of Terminus Group’s digital infrastructure projects in the UAE and upcoming projects in the MENA region.
The government-backed trade credit insurance will safeguard the group’s receivables and mitigate potential risks while trading in the UAE market or entering new competitive business settings.
Massimo Falcioni CEO – ECI
“Etihad Credit Insurance supports projects that expedite digital transformation, as our strategy is rooted in continuous improvement and innovation – which is evident in our first-of-its-kind AI-based Credit Rating Model, SME Protect, and our collaboration with leading technology players to ease trade and project financing procedures. By teaming up with world-leading digital technology brand Terminus Group, we are helping accelerate the UAE’s non-oil trade through state-of-the-art digital solutions.”
Further, Terminus Group is exploring with UAE strategic partners to bring its world-class innovation and manufacturing capabilities to the Emirates by setting up an innovation hub and factoring site.
“ECI also aims at providing medium and long-term solutions such as buyer credit/project finance insurance and foreign investment insurance to guarantee Terminus Group’s project development,” as per the statement.
“Through this new agreement with the UAE’s federal export credit company, we believe we can progress considerably in our vision to create a smart and interconnected world and improve many lives, with AIoT Technology,” a Terminus Group spokesperson said.
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