Dhaman’s board of director holds first meeting for 2022

The first meeting of the Board of Directors of the Arab Investment & Export Credit Guarantee Corporation (Dhaman) was held on Tuesday (8/03/2022) at the Corporation’s headquarters in the State of Kuwait in the presence of the Board chairman and members, as well as the director-general. In the meeting, the Board took note of the Director General’s report on the activities of the corporation for the period between 1/09/2020 to 31/12/2021, which included three chapters: guarantee operations, complementary activities and supportive services, and the financial report. During the reporting period, the corporation hammered out 27 new contracts, including 16 credit insurance contracts, nine confirmed letters of credit insurance contracts and two optional inbound reinsurance contracts. It also received 446 insurance applications worth a total of $ 789 million. Thus, the total value of insured commitments hit $ 944 million, up 136.3% over the same period of 2020. The corporation’s insurance benefitted companies and financial institutions from nine Arab countries and four foreign countries; topped by Kuwait (36.70%), UAE (19.62%) and Switzerland (16.92%).