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Etihad Credit Insurance (ECI), the UAE Federal export credit company, awards an advisory contract to EY, a global leader in assurance, tax, transaction and advisory services.
The contract will allow EY to extend its insights and quality services and solutions in the areas of strategy and operational transformation to the federal agency of the UAE mandated to support the country’s non-oil diversification strategy. The move will further strengthen the trust and confidence in ECI’s operations that act to support the UAE companies through a range of export credit, financing and investment insurance products.
Aligned with the sustainable economic development and diversification plan of the UAE, the collaboration with EY will enhance ECI’s processes, standards and framework to better support UAE businesses.
Massimo Falcioni, CEO, ECI, said: "Today, the emergence of technology, data analytics, cloud computing and new tools and techniques are providing companies with greater levels of assurance and unique insights. ECI is focused on incorporating the latest industry practices, technology and tools to help UAE businesses in their endeavors to establish their presence locally and globally. The collaboration between ECI and EY, known for its high-quality advisory services, technical excellence and broad understanding of financial and non-financial factors, is a crucial step towards this direction.”
Joe Murphy, UAE Managing Partner, EY, commented: “EY takes pride in contributing towards the vision of the UAE leadership and we look forward to making a positive difference through this strategic initiative at ECI, working together towards building a better working world.”
Ali Saleh Al Ali, Director of IT and Operations, ECI, said: “ECI is committed to consistently maintaining seamless operations that are compliant and adaptive of top-notch technology. Collaborating with a reputable advisory firm like EY is a strategic move as it will provide ECI premium solutions and tools that are cost-effective and reliable as well as help us in further streamlining our processes according to industry standards and practices.”
Sanjay Jain, MENA Insurance Leader Africa, India & Middle East (AIM), Advisory Services, EY, added: “Export Credit Agencies (ECAs) and Trade Credit Insurers play a significant role in supporting global trade and promoting (re) exports. ECI has a critical role in the UAE’s economic diversification agenda and EY is looking to support this vision through our proven credentials with other global ECAs. Further, ECI will have access to EY’s global ECA network through Jorg Thews, EMEIA Financial Services Advisory Partner, who will be leading this project in bringing the global best practices and capabilities to ECI.”
EY is a global leader in assurance, tax, transaction and advisory services. The Middle East and North Africa (MENA) practice of EY has been operating in the region since 1923, growing to over 7,500 people united across 21 offices and 16 countries, sharing the same values and an unwavering commitment to quality.
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