Etihad Credit Insurance’s new Islamic solution aims to narrow trade finance gap and boost halal trade
DUBAI - A new Islamic solution could provide UAE businesses operating in halal trade with a competitive advantage in the international market while addressing the huge global shortfall in trade finance.
As much as 90% of global trade is currently financed through credit and insurance or guarantees, according to the World Trade Organization. Due to the pandemic, there is a gap of between $2 trillion and $5 trillion in trade finance, estimates WTO, who with the International Chamber of Commerce and B20 Saudi Arabia (the fifteenth G20 Summit in Riyadh) recently called for action to narrow the growing trade finance gap.
The export credit solutions from ECI Islamic, a new brand under UAE government-backed Etihad Credit Insurance, can narrow some of that gap, especially for the halal trade sectors. The solutions include trade credit insurance, letter of credit confirmation insurance, Islamic export finance, foreign investment insurance, and surety bonds.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
