JEDDAH: ARAB NEWS

Thursday 29 November 2012

Aman Union members have contributed $ 17.4 billion in investment and export insurance for OIC countries this year, said its Secretary-General Dr. Abdel-Rahman Taha.

“The insurance support given by the union this year is 17.6 percent more than that of 2010 when it gave $ 15.06 billion,” he pointed out.

Addressing the union’s third annual meeting in Kuala Lumpur, Taha expressed deep concern over the prevailing uncertain economic outlook globally.

“The union is now holding its 3rd annual meeting in difficult economic times that will require more effort in the industry to face these challenges,” said Taha, who is CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), an affiliate of Islamic Development Bank.

“We believe this forum is playing a critical role in bringing the industry captains together to create a collective impact to advance the future of the credit insurance and reinsurance industry in Islamic and Arab countries,” said Adissadikin Ali, managing director and CEO of EXIM Bank Malaysia.

The meeting was jointly organized by EXIM Bank, ICIEC and the Arab Investment and Export Credit Guarantee Corporation (Dhaman).

Malaysia’s Deputy Finance Minister Awang Adek Hussin officiated the gathering, which assembles commercial and non-commercial credit and political risks insurers and reinsurers from member countries of the Organization of the Islamic Cooperation.

“It was a ground-breaking event for the global Islamic business community to meet, interact and transact business,” said Taha.

READ MORE HERE:

http://www.arabnews.com/export-insurance-support-oic-states-reaches-174-bn