Dhaman" Signed a MoU with "OeKB"

The Arab Investment & Export Credit Guarantee Corporation (Dhaman) signed a Memorandum of Understanding (MoU) with Austria’s National Export Guarantee agency (OEKB) for boosting trade and investment insurance services between Arab states and Austria to enhance bilateral cooperation in trade exchange and investment fields in the upcoming period.

The agreement was signed in the Norwegian capital, Oslo on the sidelines of the Berne Union meetings, by Dr. Hassan Hamdan, Director of Dhaman’s Operations, commissioned by Mr. Ahmed Abdullah Al-Sabeeh, Director-General of Dhaman, and on behalf of OeKB both Markus Hoskovec, OeKB’s Director-General, and Gerhard Kinzelberger, OeKB’s Senior Director.

On this occasion, Mr. Abdullah A. Al-Sabeeh welcomed the signing of the MoU with the Austrian group, which provids financial and information services and export finance with estimated operations of about 29 billion euros, as well as 22-billion-euro export loans. Al-Sabeeh underlined the importance of the MoU to reinforcing Arab-Austrian cooperation, especially amid available major opportunities to improve investment and trade relations between the two sides thanks to their varied productive and trade structures.

Under the MoU, Dhaman, which was established in 1974 as a joint Arab body owned by the governments of Arab countries and four Arab financial institutions, will cooperate with OeKB to provide trade and investment insurance services against political and trade risks, to boost investments and trade exchange between Arab and Austrian markets.

Al-Sabeeh stressed that Dhaman, which is rated A+ by Standard & Poor’s (S&P), is keen to enable Arab member states to make the best use of its insurance operations and activities, by means of promoting its relations with finance and insurance institutions in key markets that are important to Arab countries.

On the other hand, OeKB Group was established in 1946, and seeks to strengthen Austria's economy by offering many services to small, medium and large-sized enterprises. It focuses on five main services: exporting, capital market, energy market, development financing and tourism.