The board of directors of the Arab Investment & Export Credit Guarantee Corporation (Dhaman) held its fourth meeting at the corporation’s headquarters in Kuwait on Tuesday (8/11/2022).
During the meeting, the board took note of the Director-General’s report on the corporation’s activities during the period from 1/1/2022 to 31/8/2022, which consisted of three chapters: guarantee operations, complementary activities, and the financial report. The corporation received 625 insurance applications worth a total of KWD 539 million. Also, during the reporting period, it clinched 74 new contracts, including 40 credit insurance contracts, 30 insurance contracts for reinforcement of letters of credit and four optional inward reinsurance contracts.
Among the corporation’s insurance beneficiaries during the reporting period were financial companies and institutions from 11Arab exporting countries and four foreign countries, with the State of Kuwait coming first with 47%, followed by the United Arab Emirates (UAE) with 14.5% and Switzerland with 11%.
The corporation also continued its business in the field of complementary and supportive services by means of preparing publications and research, assessing country risks, and developing human resources, information technology, electronic communication, and media activity.
During the meeting, the corporation’s board of directors discussed all agenda items and adopted the required decisions and directives, including:
The corporation’s board of directors decided to hold its first meeting for 2023 in March 2023.