BUSINESS REPORTER
MUSCAT, FEB 20
Credit Oman received officials from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) on Tuesday for discussions on expanding mutual cooperation.
The meeting was attended by Shaikh Khalil bin Ahmed al Harthy, the CEO of Credit Oman, and Oussama Kaissi, CEO – ICIEC of the Islamic Corporation for the Insurance of Investment and Export Credit. The primary focus of the meeting was on export credit insurance, which aims to protect exporting companies against the risks of non-payment or delayed payment by buyers. Credit insurance plays a crucial role in building trust, promoting international trade, and assisting exporters in managing financial risks and expanding their opportunities in global markets.
The meeting also addressed the topic of credit reinsurance, which provides financial protection to companies and individuals who rely on financing from banks and financial institutions through borrowing. This type of insurance helps ensure the continuity of financing and reduces the financial risks associated with borrowing from banks and other financial institutions.
Additionally, the two parties discussed the challenges facing the credit insurance sector in light of the current regional and global conditions. They also discussed the topic of credit insurance for medium and long-term projects. The efforts made by both institutions in previous years were also reviewed during the meeting.
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