More than 50 years
of experience
of experience
29 USD Billion Worth
export and investments
export and investments
A+ Rated by S&P
The Master Trade Finance Insurance Policy (MTFIP) covers the losses suffered by the insured bank resulting from non-receipt of all or part of the value of the insured trade finance instrument due to a credit or political risk materialization.
Dhaman pays up to 100% of the insured share/amount under the trade instrument.
The investor chooses the risks to be insured (one or more risks) for each contract period (contract period: one year).
Inability or failure, or refusal of the obligor bank to fulfill the payment
The bankruptcy of the obligor bank
Currency inconvertibility and transfer restrictions
Confiscation, Expropriation, and Nationalization
Measures taken by the authorities of the issuing/obligor bank preventing the insured from obtaining his rights
War and civil disturbances
Export of goods and services of Arab origin.
Import of goods and services of non-Arab origin by an Arab country from all over the world, provided the imported goods are developmentally sound for the importing Arab country, such as commodities, equipment, food, pharmaceuticals, etc.
Regional & international banks engaging in Arab-related trade finance activities.
Conventional and Shariaa compliant banks.
Confirmation of Letters of Credit, including Transferable Letters of Credit.
Discounting under Avalized Draft and Bankers Acceptances.
Short Term Trade Finance Loans.
Post-Shipment Financing or Re-Financing associated with LCs.
Irrevocable Reimbursement & Payment Undertakings (IRUs & IPUs).
Purchase of Payment Obligations under different trade instruments.
Sharia Compliant Financing Instruments such as Murabaha.
Participation in Syndicated Loan Agreements covering the above-stipulated trade finance instruments such as LCs and ST trade finance loans.
Issuance of the insurance policy
Signing of the Master Trade Finance Insurance Policy
The insured Bank sends an inquiry with all transaction details
Enquiry for insurance
Insurance Offer - Non-Binding Indication
Dhaman sends a Firm Insurance Offer or Tentative Non-Binding Indication
The Insured Bank sends a formal insurance application along with a copy of the instrument
Insurance application
Insurance decision
Dhaman issues an Insurance Decision for the underlying transaction
The Insured Bank sends a declaration of utilization upon shipment or draw-down
Declaration of utilization
Premium payment
The insured Bank pays the due insurance premiums
In case of default, claim, compensation & recovery processes are followed
Claim & compensation
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