Etihad Credit Insurance (ECI), the UAE’s federal export credit agency, has signed a preliminary deal to offer more trade finance solutions to customers of Tradeling, the country’s e-marketplace focused on business-to-business transactions.
As part of the agreement, ECI will provide Tradeling’s customers with a broad range of trade credit insurance solutions that will protect them against commercial and non-commercial risks arising from customers’ insolvency, protracted defaults and supply and political risks. The deal will also provide them with market intelligence and grant them access to international trade.
With ECI’s commercial and Shariah-compliant solutions, Tradeling’s customers will be insured for invoice discounting, which is a finance facility when a company’s unpaid invoices are used as collateral for a loan.
“In today’s complex economic and trading ecosystem, it is indispensable to have businesses protected by proper insurance solutions. By associating with a dominant digital business platform in the region, we intend to reach out to numerous local businesses supporting them with our trade credit insurance services and global network of more than 320 million businesses worldwide.”
In addition to ECI Islamic and SME Protect, other innovative trade credit insurance products will benefit small, mid-cap and large enterprises using Tradeling’s platform. ECI will also facilitate finance policies on a case-by-case basis as per the requirements of Tradeling’s customers.
On the other hand, Tradeling will conduct events in cooperation with ECI to offer valuation tips and information for its customers discussing the advantages of using trade credit insurance to ensure the growth as well as continuity of their business.
Establishing a dominant business-to-business ecosystem in the Middle East and North Africa (MENA) with its eMarketplace and other innovative digital platforms, Tradeling ensures a safe and stable trade process, which is perfectly in sync with the mission of ECI to accelerate non-oil trade and economic diversification of the UAE.
Mr. Marius Ciavola, CEO of Tradeling said, “Tradeling connects local businesses with global sellers from around the world. Through this partnership with Etihad Credit Insurance, sellers can sell their products to the UAE market with a high level of government protection and support. Similarly, UAE SMEs can safely export their products using Tradeling’s platform.”
Led by a team of experienced technology startup builders, Tradeling ensures a reliable and smooth trade process in addition to providing logistics and financing solutions. Connecting global suppliers with MENA-based demand, the platform leverages advanced technology to optimize the supply chain and creates economic value in addition to mitigating risks.