Maalexi, a UAE-based dynamic risk management platform for SME agri-businesses, has signed a strategic credit insurance agreement with Etihad Credit Insurance (ECI), the UAE's Federal export credit company.

 

Maalexi will leverage ECI’s robust suite of trade credit solutions and services to increase the competitiveness of regional SME businesses involved in food and agri-trade, in both local and global markets, by reducing barriers to entry. The agreement will support Maalexi’s ongoing mission to foster SME participation in cross-border trade of agri-produce, as well as address food security in the UAE, said a statement.

 

The partnership will focus on mitigating the credit risk associated with receivables from SME buyers and importers, particularly on smaller-size transactions. By addressing various operational risks in these trades, the initiative will bring transformative improvements to the agri-trade ecosystem in the UAE, encouraging more trade and increased market access for SMEs. Currently, Maalexi helps SME buyers procure thousands of tonnes of food supplies - across 70 products, from 27 countries – in the $3 trillion global, cross-border food trading market.

 

Raja Al Mazrouei, CEO of Etihad Credit Insurance, commented: “The strategic partnership with Maalexi is poised to bolster SMEs in the agri-food industry in the UAE to expand their product offering, particularly through the integration of ECI’s payment protection solutions. ECI's comprehensive solutions strengthen Maalexi's service offerings, by mitigating risks associated with non-payment and other trade-related uncertainties. This support not only enhances Maalexi’s ability to support SMEs in the procurement and distribution of food and agricultural products in the UAE but also strengthens its position as a leader in empowering SMEs within the region. This is in line with ECI’s commitment to protect, promote and foster a robust ecosystem for growth and innovation in the UAE’s non-oil sector, including agri-trade.”

 

Dr Azam Pasha, Co-founder and CEO, Maalexi, commented: "We are excited to collaborate with ECI on this important initiative. This collaboration will allow us to help small businesses in the UAE to procure food and agri products of their choice safer, faster, and cheaper than what they do now, securing them through some of the most advanced technology tools on our platform. It also reaffirms our commitment to empower SMEs and fortify food and agri-supplies for the UAE and the region, while enhancing our capacity to seamlessly de-risk cross-border agri-produce trade." – TradeArabia News Service