Our Products

Financial Institutions Insurance

To assist Arab banks and support their efforts in enhancing investments in Arab member countries and increasing value of Arab exports worldwide, Dhaman works to help such banks with its experience in the field of financing investors, importers of Arab goods and confirming letter of credit. Dhaman advises Arab Banks on risks associated to the ability of importers, issuing banks and borrowers on how to meet their obligations. Dhaman provides comprehensive coverage to avoid the effect of these risks on banks’ commitments and business.

Insurance Procedure

Dhaman, continuously, works on simplifying its insurance procedures, to meet the requirement of banking operations. The procedures of insurance are as follows:

 

Submitting Insurance Application
For obtaining the insurance contract, an application form should be submitted to Dhaman stipulating the details of the proposed financing operation or the L/C to be confirmed, as per the form available on Dhaman’s website.

Signing Insurance Contract
Based on the information provided in the application and the information collected on the beneficiary and his country, Dhaman will specify the total value of operations to be insured, and present its offer to the applicant. Insurance contract is signed, once the offer is accepted.

Notification of Risk Occurrence
The insured bank will notify Dhaman of the defaulted dues, whether the obligor is the issuing bank , the importer or the financed investor. Dhaman compensates the insured bank of incurred loss, as per insurance contract signed by the two parties.

Contracts

To assist Arab banks and support their efforts in enhancing investments in Arab member countries and increasing Arab exports worldwide, Dhaman works to help such banks with its risk-covering experience in the field of financing importers and confirming letter of credit. Dhaman advises Arab Banks on risks associated to the ability of importers, issuing banks and borrowers on how to meet their obligations. Dhaman also provides comprehensive coverage to avoid the effect of these risks on banks’ commitments and business.

Based on above mentioned, Dhaman provides three types of financial insurance contracts which are compliant with the nature of financing operations for Arab investments and exports:

Loan Guarantee Contract

This contract covers financing loans for investment and development projects. The tenor of the loan must exceed three years, and has to be provided by an Arab or joint Arab-foreign bank eligible for Dhaman’s guarantee.

Contract validity is concurrent to the repayment schedule of the loan. Dhaman compensates guaranteed financing party against realized risks, at an average rate of 90% of the loss value.

For further information, please send your inquiries or set an appointment to receive a phone call from one of Dhaman’s guarantee experts.

 

Buyers Credit Insurance Contract
This contract covers Arab or joint Arab-foreign banks against commercial and non-commercial risks, upon financing Arab goods or services imports. Disbursements are made in favour of the Arab exporter against shipments to the Arab or non Arab importer, who in turn repays the financing bank upon maturity.

Contract validity is concurrent to the repayment of credit facilities extended by bank to the importer. Dhaman compensates the financing bank against realized risks up to 90% of loss value.

For further information, please send your inquiries or set an appointment to receive a phone call from one of Dhaman’s guarantee experts.

L/C Confirmation Insurance Contract

This contract covers Arab or joint Arab-foreign banks against commercial and non-commercial risks, when confirmed irrevocable letters of credit are issued by an Arab or foreign bank.

Dhaman compensates the L/C-confirming bank against realized risks up to 90% of loss value.

For more details, please download the brochure, for further information, please send your inquiries or set an appointment to receive a phone call from one of the Dhaman’s insurance experts.