Dhaman signs reinsurance agreement in favor of the Jordan Loan Guarantee Corporation (JLGC)
The Arab Investment & Export Credit Guarantee Corporation (Dhaman) signed an agreement to re-insure the Jordanian export credit with relative quotas for the benefit of the Jordan Loan Guarantee Corporation (JLGC), in cooperation with the Islamic Corporation for the Insurance of Investment and Export Credit(ICIEC) that contributes a share in the agreement. The agreement was signed by Mr. Abdullah Ahmad Al Sabeeh in his capacity as the director general of Dhaman, Mr. Oussama Kaissi as the CEO of the Islamic Corporation, and Dr. Mohammed Al Ja’fari in his capacity as the General Manager of the Jordanian Company.
Mr. Abdullah Ahmad Al Sabeeh, Director General of the Arab Investment & Export Credit Guarantee Corporation (Dhaman), in cooperation with the Islamic Corporation and the Jordanian Company, welcomed Dhaman’s keenness to enhance its role aimed at strengthening the exports of member states, noting that The Arab Investment & Export Credit Guarantee Corporation (Dhaman) contributes to many re-insurance agreements for export credit insurance agencies in Arab countries to increase their insurance capabilities to serve exporters.
Al Sabeeh added that according to this agreement, (Dhaman) will play the role of the leader to re-insure a share of the Jordanian national export credit insurance operations against commercial and non-commercial risks that Jordanian exporters are exposed to in the international markets, allowing them to increase the competitive value of their exports by providing credit facilities to their existing and new customers and in the same time Dhaman services protect their dues against potential risks of non-payment of amounts owed by their clients and to obtain adequate compensation if the risk is realized.
The Jordan Loan Guarantee Corporation (JLGC) is a public limited company established on April 17, 1994, and aims to provide insurance against the risks of loans granted by commercial banks to viable productive projects of small or medium size owned by the private sector and operating in Jordan in all productive economic fields. The role of the National Authority for Jordan Export Credit Insurance.