Dhaman Board of Directors holds its first meeting for 2021

The first meeting of the Board of Directors of the Arab Investment & Export Credit Guarantee Corporation (Dhaman) was held on Tuesday (2/3/2021) at the Corporation’s headquarters in the State of Kuwait, through remote visual communication technology, and in the presence of the Board Member His Excellency Ambassador / Jamal Abdullah Al-Ghanim, representative of the State of Kuwait.

In this meeting, the Board took note of the Director General’s report on the activities of the corporation during the period from 9/1/2020 to 31/12/2020, which included three chapters: guarantees operations, complementary activities and the financial report.

Dhaman received requests during the reporting period. There were (418) applications to guarantee investment and credit insurance with a value of $ 583.83 million, including (160) requests for export credit insurance valued at $ 223.67 million, and (70) requests for internal trade credit insurance worth $ 23.59 million. These requests were submitted by companies and financial institutions from (7) Arab countries and (3) foreign countries, at the forefront of which was the State of Kuwait with 33.23%, followed by Bahrain with 17.48%, the United Arab Emirates with 16.87%, and Saudi Arabia with 10.08%. The Board commended the results achieved by the Foundation during the reporting period.

In the field of complementary activities and support services, Dhaman continues its efforts to complete the development of complementary activities and support services, by distributing publications and uploading them to Dhaman’s website in order to provide an opportunity for followers and interested parties to review the Quarterly report titled.

“The Arab economy in light of the COVID-19”, provided a complete outlook on Arab economies during the pandemic a complete file about the performance of 20 Arab economies, focus-ing on indicators of growth and external performance.

The board also reviewed the report of the marketing plan for the Operations Department for the year 2021 and the extent of the impact of the Corona pandemic on Dhaman’s activities, in addition to the plan to develop the activity of the Investment Guarantee Unit, as well as a plan to activate Dhaman’s role in electronic media, and the board also reviewed the work of the operations and financial and legal investment departments.

The board deliberated all agenda items and issued the necessary decisions and directives in their regard, according to the following:

Certification of the minutes of the previous meeting and its decisions.

Report of the Director General on the activities of Dhaman for the period from 1/9/2020 to 31/12/2020.

Memorandum regarding arrangements for the meeting of the Board of Shareholders in its forty-eighth session and its draft agenda.

Reviewing the recommendations of the investment and audit committees.

Memorandum regarding the appointment of representatives of the State of Qatar and the Republic of Sudan to the membership of Dhaman’s Board of Directors.

It has been decided that the second meeting of the Board of Directors will be held for the year 2021 after coordination with the members of the Board of Directors and the Executive Management.