Etihad Credit Insurance (ECI), the UAE Federal export credit agency, has become the first export credit agency to join the KYC Blockchain Platform, a groundbreaking initiative by the Dubai Department of Economy and Tourism (DET). This integration marks a significant milestone in enhancing KYC compliance and improving customer data management through blockchain technology, which will streamline business operations and improve service delivery across sectors.

Boosting Business Efficiency with Blockchain
By joining the KYC Blockchain Platform, ECI aims to accelerate the process of verifying customer identities, reducing time and costs associated with traditional verification methods. The platform, developed with norbloc’s Fides solution, will create a single version of truth for customer profiles, ensuring accurate, reliable, and secure data exchange among financial institutions, insurance companies, and other entities. The platform’s expansion aligns with the UAE’s vision to strengthen its digital economy and reinforce its status as a leading global financial hub.
Etihad : A Commitment to Digital Transformation
Her Excellency Raja Al Mazrouei, CEO of ECI, highlighted the strategic importance of this collaboration: “Joining the KYC Blockchain Platform will enhance operational efficiency and enable ECI to better support businesses involved in UAE export and re-export operations.” Al Mazrouei also stressed that this partnership reinforces ECI’s commitment to utilizing state-of-the-art technologies to drive innovation and improve customer experience.
The Role of KYC Blockchain in UAE’s Economic Growth
Ahmad AlFalasi, CEO of DBLC at DET, expressed enthusiasm about ECI’s participation, noting the significant role that the platform plays in improving the ease of doing business. “The KYC Blockchain Platform fosters regulatory collaboration, ensures KYC compliance, and is integral to Dubai’s mission of becoming a global business hub,” AlFalasi said.
Astyanax Kanakakis, CEO and Co-Founder of norbloc, emphasized the KYC Blockchain Platform’s role in improving transparency and combating financial crimes by providing secure, verifiable customer data. This initiative is key to Dubai’s broader digital transformation strategy, contributing to sustainable economic growth and attracting global investment.
Next Steps for the KYC Blockchain Platform
As part of the UAE’s digital strategy, the KYC Blockchain Platform is set to continue expanding, with more companies expected to join the initiative in the coming years. The platform is a vital component of Dubai’s smart city ambitions, driving the city towards a fully integrated digital society that supports innovation, transparency, and business growth.