Funding aims to accelerate SME growth with support from four major banks.
Etihad Credit Insurance (ECI), the UAE’s federal export credit company, announced the impact of its ‘Xport Xponential’ program, which has helped raise AED 174 million in funding to support the growth of SMEs, during the closing ceremony of the program. The working capital was raised with the support of four of ECI’s banking partners: First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank. ECI also remains committed to securing similar funding and capital for SMEs in collaboration with its other banking partners.
The programme’s closing ceremony was held under the patronage of H.E. Abdulla Bin Touq Al Marri, the Minister of Economy and Chairman of the Board of Directors of Etihad Credit Insurance. The event aligns with the Ministry’s mission to develop a flexible future economy and robust entrepreneurial ecosystem by facilitating investment and talent attraction.
H.E. Bin Touq stated: “The ‘Xport Xponential’ program plays a pivotal role in advancing the UAE’s ongoing efforts to increase the contribution of small and medium-sized enterprises to the country’s non-oil GDP. It also directly supports the objectives of the ‘We the UAE 2031’ national strategy, which aims to increase non-oil exports to AED 800 billion and expand foreign trade volume to AED 4 trillion by the next decade. Moreover, with export and re-export activities between the UAE and countries with which we have Comprehensive Economic Partnership Agreements (CEPA), already exceeding AED 390.5 billion, the initiative leverages existing trade momentum to help SMEs unlock the untapped potential of these markets, particularly as the UAE continues to expand its economic and trade partnerships with key strategic markets worldwide.”
On her part, H.E. Raja Al Mazrouei, CEO of Etihad Credit Insurance, highlighted ECI’s role in empowering UAE-based businesses to compete on a global level. Her Excellency stated that ‘Xport Xponential’ serves as a dynamic platform for local businesses and potential importers to connect. H.E. Al Mazrouei further stated that the program identifies high-potential export markets for a wide range of products, allowing small businesses to expand globally with greater ease and confidence.
Her Excellency added: “ECI’s ‘Xport Xponential’ program aligns with the UAE’s strategic vision to diversify its revenue sources away from oil. It offers integrated financial and insurance solutions, particularly to SMEs, enabling them to scale internationally, while mitigating major export-related risks.”
Futoon Hamdan AlMazrouei, Group Head of Personal, Business, Wealth and Privileged Client Banking Group at First Abu Dhabi Bank (FAB) said: “First Abu Dhabi Bank is pleased to be a banking partner of “ECI’s Xport Xponential programm”, an initiative that reflects the UAE’s strategic vision for economic diversification and sustainable growth. We are strongly aligned with the Ministry of Economy’s mission to foster a flexible, future-ready economy and a vibrant entrepreneurial ecosystem by enabling investment and attracting top talent. By empowering SMEs with access to working capital and innovative trade finance solutions, we are unlocking new opportunities for global growth. The program strengthens the UAE’s competitiveness and supports its ambition to expand trade across strategic international markets.”
On the collaboration, Dr. Bernd van Linder, CEO of Commercial Bank of Dubai, stated: “Commercial Bank of Dubai is proud to be a foundational partner in ECI’s Xport Xponential program. With a legacy of over five decades in backing the growth of the UAE, we continue to demonstrate our commitment today by empowering the nation’s vibrant SME sector and creating tangible impact that supports the economic diversification and global competitiveness of the UAE. We look forward to continuing our work with ECI to unlock even greater opportunities for businesses across the Emirates, building on the significant momentum already achieved.”
Mustafa Al Khalfawi, CEO of Ajman Bank, said: “We are proud to be part of the ‘Xport Xponential’ program in collaboration with Etihad Credit Insurance, which represents a significant milestone in empowering SMEs to access new growth frontiers. Our participation reflects Ajman Bank’s unwavering commitment to supporting the UAE’s national agenda, particularly Ajman Vision 2030 and We the UAE 2031, by providing Sharia-compliant financing solutions that enable local businesses to scale internationally. The AED 174 million in funding collectively raised through this initiative is a powerful testament to the strength of public-private sector collaboration. We will continue to build on this momentum by enabling innovative trade finance and expanding our role as a catalyst for sustainable economic development.”
Mohammed Wassim Khayata, CEO of Al Maryah Community Bank, commented: “We are proud to partner with Etihad Credit Insurance on the ‘Xport Xponential’ program, which represents a significant milestone in empowering the UAE’s SMEs to access global markets with confidence. At Al Maryah Community Bank, we are committed to offering fully digital, fast, and innovative financing solutions that simplify exporters’ daily operations and enhance their global competitiveness. This initiative not only aligns with the UAE’s vision to diversify its economy and boost non-oil exports but also opens new opportunities for local businesses in vital sectors to thrive internationally. We look forward to continuing our collaboration with ECI to ensure that manufacturers and exporters are equipped with the tools, knowledge, and capital they need to scale beyond borders.”
The ‘Xport Xponential’ program was launched to fulfil the dual objectives of catalyzing SMEs’ global expansion and driving SME financing with the help of partner banks. It was introduced during the third edition of ‘Make It in the Emirates’ (MIITE), held in May 2024, with the aim of accelerating the global expansion of UAE-based SMEs by offering financial support and ensuring their export readiness through innovative trade finance and credit insurance solutions.
As many as 42 companies applied for the program, out of which 10 were shortlisted based on rigorous evaluation criteria. These companies have collectively generated AED 2.1 billion in turnover to date and are now targeting expansion into four key markets—Indonesia, India, Saudi Arabia, and Oman—with a combined export potential of AED 31.3 billion over the next four years across ten vital sectors. Implemented in collaboration with 19 strategic partners, the program exemplifies ECI’s role in driving sustainable economic growth by connecting businesses with international opportunities and tailored trade finance solutions.
Since the program’s inception, ECI’s partnerships with government entities and banks have increased by 27 per cent, reflecting its role in nurturing a robust export-enablement ecosystem that connects the public and private sectors under a unified vision. Partnerships with leading financial institutions have helped facilitate consistent, reliable support and access to growth-oriented funding for UAE SMEs. ECI also hosted a workshop in January 2025 to offer the selected companies’ essential tools and resources, further supporting their export growth journey. In addition, these companies belong to diverse economic sectors, showcasing the program’s wide-reaching impact across key industries.
Xport Xponential’s vast partner list features 19 key strategic partners, including both federal and local entities, which are: the Abu Dhabi Department of Economic Development, Khalifa Fund for Enterprise Development, Dubai Department of Economy and Tourism, Dubai Airport Free Zone, Sharjah Chamber of Commerce and Industry, Ajman Department of Economic Development, Ras Al Khaimah Economic Zones, as well as Fujairah Department of Industry and Economy. Its financial and banking partners include Emirates Development Bank, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, RAKBANK, National Bank of Fujairah, International Development Bank, Wio Bank, Al Maryah Community Bank and Reem Finance. It is also worth noting that since its inception, ECI has insured AED 21 billion in support of local exports and completed underwriting for premiums totaling AED 447 million.