News Middle East01 Aug 2019

Lebanon:Lebanese businesses work with regional export credit insurer

| 01 Aug 2019

Lebanese companies signed $13.6m worth of export credit insurance contracts with Kuwait-headquartered Arab Investment & Export Credit Guarantee Corporation (Dhaman) in 2018.

The amount of Lebanon's export credit insurance contracts with Dhaman was the second lowest among 10 Arab countries, and was higher than only Egypt ($4.1m). The quantum accounted for 1% of the region's total export credit and investment insurance contracts and for 0.8% of contracts issued globally by Dhaman in 2018, according to a report by the economic research and analysis department of Byblos Bank.

Also, Dhaman issued $303m worth of insurance contracts for exports to Lebanon in 2018, the highest amount among 16 Arab countries. The amount of insurance contracts for exports to Lebanon represented 22.4% of insurance contracts for exports to Arab countries and 18.5% of global export insurance contracts with Dhaman.

Dhaman covers Arab and non-Arab investments of its member countries against noncommercial risks, as well as insurance against commercial and non-commercial risks for inter-Arab and worldwide Arab export credits.

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