‘Sadder’ Fund to provide liquidity to exporters and reduce the risk ratio in export operations
The Sharjah Chamber of Commerce & Industry, SCCI, has recently launched the ‘Sadder’ (export) Fund, the first of its kind fund in the UAE for financing export operations.
‘Sadder’ Fund falls under the Sharjah Exports Development Center (SEDC) of the SCCI and it aims to increase the rate of exports, open new markets, expand the export map of the SEDC’s affiliates, provide liquidity to exporters and reduce the risk ratio in export operations through credit insurance.
This comes as part of the SCCI’s efforts to provide the support and boost the UAE’s exports by providing export finance services to local companies, expanding the scope of export business, and penetrating new markets.
“Our aim is to support the local economy and enhance its competitiveness by providing financing solutions, including providing guarantees for exporters from national institutions and companies,” asserted Abdullah Sultan Al Owais, Chairman, SCCI.
“The Sadder Fund is a quantum leap in the joint endeavors of both SCCI and ECI to achieve their objectives in line with the bilateral agreement signed last April,” remarked Massimo Falcioni, CEO, Etihad Credit Insurance (ECI).
The fund will implement the best international practices to expand export goods and services by providing credit guarantees,” commented Mohammad Ahmed Amin Al-Awadi, Director-General, SCCI.
