Emcredit, Dubai’s official credit information agency, has signed a MoU with the Export Credit Insurance Company of the Emirates (ECIE), in a move to boost exports from the UAE.

Under the terms of the agreement, Emcredit’s advanced credit information reporting services will be used in ECIE credit insurance services. In addition, both Emcredit and ECIE will promote their respective services to members.

The MoU would also help protect ECIE against unmeasured credit and liquidity risks and provide its members with access to valuable business information.

“An alliance such as this between Emcredit and ECIE will provide trading partners with access to the necessary business information to support business decisions, and help companies manage export risks by transferring the risks to a credit insurer,”  said Ali Ibrahim, managing director, Emcredit.

“Accurate credit and trade information is a cornerstone of trade credit insurance. Emcredit’s products will greatly support ECIE's information objectives and will play an important role by providing ECIE access to its pool of high quality business information, further strengthening our ability to offer suitable insurance cover to our customers,” stated Saed Al Awadi, managing director and chief of ECIE.

“Moreover, Emcredit’s credit and business information will further enable ECIE to help companies identify appropriate business partners, and support quicker and better decision making while mitigating their credit risks.”

In exchange ECIE will also support Emcredit in the enhancement and enrichment of its business reports by providing Emcredit with relevant data.-TradeArabia News Service