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Kuwait: The Arab Investment and Export Credit Guarantee Corporation (Dhaman) is encouraging investments in Arab countries and development of exports to world markets, said Dhaman Chairman Fahad Al Ibrahim.
On the occasion of the corporation’s AA credit rating confirmed by Standard and Poor’s (S&P), Dhaman is offering insurance cover for Arab and non-Arab investments for its member states to protect them against non-commercial risks, Al Ibrahim said yesterday in a statement carried by Kuwait’s state news agency KUNA.
He added that the corporation also offers its services on commercial risks such as default of buyers, insolvency or bankruptcy as well as providing comprehensive insurance coverage for lease and funding operations for Arab companies around the world.
The corporation secures letters of credit issued by Arab and non-Arab banks and Arab imports of capital and strategic goods from all over the world.
“The corporation instills and develops the Arab security system, raises awareness of its advantages, provides technical support and assistance, in addition to organizing forums on funding mechanisms, exports guarantee, investment and network-building to broaden the base of beneficiaries of the security services,” KUNA quoted him as saying.
In addition, Dhaman plays a significant role in raising awareness and promotion of investment climate in the Arab world though research, studies, reports, journals and worksheets as well as organizing and participating in many of the relevant activities, Al Ibrahim noted.
Dhaman is an autonomous Arab regional organization established in 1974 under a multilateral agreement between Arab countries, based in Kuwait since mid-1975 and includes 21 Arab member states and a number of Arab and international bodies. QNA