Qatar Development Bank’s export development agency, TASDEER, announced on 11 December 2013 the conclusion of the Fourth “Aman Union” Annual Meeting which gathered representatives of export risks insurance sector. The meeting was held at Renaissance Doha City Center in Qatar, from 9 to 11 December 2013, and was attended by a number of Aman Union members, in addition to senior officials, decision makers and international experts from related sectors such as Insurance and political risks, reinsurance, and banking and insurance information. The meeting ai
med at discussing and highlighting the importance of promoting the insurance of commercial and non- commercial risks, the ways to benefit from this type of insurance and strengthening mutual commercial relationships between Qatar and participating countries.
The meeting consisted of a number of talking sessions and seminars on recent issues and challenges faced by the credit and political risks insurance sector on different levels, means to develop procedures and systems in place to enhance relationships between stakeholders, and facilitating work flow.
Commenting on the event, Mr. Abdulaziz Bin Nasser Al-Khalifa, CEO, Qatar Development Bank: “We are glad to announce that the Fourth Aman Union Annual Meeting was a huge success; it represented to us a unique opportunity to exchange experiences and talk about the most important issues and challenges in the risks insurance sector, in the presence of esteemed international experts in the industry. The meeting also enabled us to explore various methods that help growing and promoting of Qatari exports with participating countries”.
“The importance of organizing such events lies in connecting all parties, keeping them informed about the ramifications and effects of global economic conditions on the insurance industry, and exploring new products and experiences in the sector. This will enable us all to expand the scope of mutual coordination, develop bi-lateral relationships, and strengthen joint cooperation between member states in the Union”, he added.
Dr. Abdel Rahman El-Tayeb Taha, the Secretary General of the Aman Union, who is also the CEO of the Islamic Corporation for the insurance of Investment and Export Credit Insurance (ICIEC), expressed deep concern over the continuing cycle of sluggish global economic growth and the political instability in some member countries which could have negative impact on the industry. “The union is now holding its 4th Annual Meeting in difficult economic times that will require more effort in the industry to face these challenges”. “We are confident this is yearly gathering which assembles credit and political Risks Insurers and Reinsurers is playing an important role in bringing the industry leaders together to create a collective impact to further advance the future of the export credit insurance and reinsurance industry in Islamic and Arab Countries”. stated Dr. Taha.
Established in 2009, Aman Union is a specialized forum that gathers insurance organizations and agencies for commercial and non-commercial risks and exports reinsurance companies in the Middle East, Africa, Asia and Europe. The Union aims at promoting and developing commercial and non-commercial risks insurance sector among member states and enhancing their joint ties through a number of activities and initiatives, including: developing various agencies and exchange of information, data, and research studies in the sector. The Union comprises of 17 full members, 3 associate members and 9 observing members.
Qatar Development Bank provides, through its export development agency, TASDEER, private sector exporting companies with financial solutions, insurance credits and consultation services, in addition to support of companies to enable them in developing their exporting competencies, through participating in a wide range of exhibitions and events around the world, such as global exhibitions, joint programs, exports development and promotion, training workshops, and publishing of specialized guidelines such Trade Secrets and Qatari Exporters Guide.
ICIEC, Aa3 rated by Moody’s, an affiliate of the Islamic Development Bank Group, is the only Shariah compliant export credit and investment insurer in the world and the leading insurer of credit & political risk in the MENA region. With an objective to increase the scope of trade transactions and facilitate and encourage the flow of FDI to its 41 member countries. ICIEC has insured over $17 billion worth of exports, since 1994, in petrochemical, oil, textiles, food, agriculture and infrastructure sectors.