The 5th Annual Meeting of Aman Union took place in Tehran, Iran from the 10th to the 12th of November at the Espinas Hotel. The event was hosted by Export Guarantee Fund of Iran (EGFI).
The event was a great opportunity to share knowledge, exchange experiences and information.
The meeting covered topics such as: ECAs & Development Finance, Investment opportunities in Iran, Impact of BASEL III implementation of the Trade Credit Insurance industry, Claims management and recovery strategies, amongst others. The General Assembly of the Aman Union also took place during the conference. New members, financial reports, budgets and the 2015 business plan were discussed.
LCI was represented by Mr. Karim Nasrallah (General Manager), Mr. Michael McPhilimey (Advisor to the Board) and Mr. Naser Abu Ghazaleh (Head of Business Development).
LCI and EGFI announced and signed a Memorandum of Understand (MoU) during the meeting. The MoU established a framework for cooperation in the fields of Marketing, Sales and Short Term Export Credit Insurance. The MoU wil help in supporting and encouraging trade and services between Iran and Lebanon and will strengthen LCI and EGFI’s co-operation.
About Export Guarantee Fund of Iran (EGFI)
EGFI was established in 1973, as the first Export Credit Agency (ECA) in the MENA region. It was re-established in 1994 as a legally and financially independent entity, 100% state-owned, and affiliated to the Ministry of Industry, Mine, and Trade, with the purpose of supporting, developing and poromoting Iran’s non-oil exports.
EGFI provides services in the two major fields of credit insurance as well as guarantee for pre & post-shipment finance of Iranian exporters.
EGFI, as one of the founding members of the AMAN UNION, has been elected as a member of the Executive Council for three consecutive rounds.
About Aman Union
Aman Union is a professional forum assembling Commercial & Non-commercial Risks Insurers & Reinsurers in Member Countries of the Organization of the Islamic Conference and of the Arab Investment & Export Credit Guarantee Corporation (DHAMAN).
Aman Union was launched on 28th October, 2009 following an agreement between the Arab Investment and Export Credit Guarantee Corporation (DHAMAN) and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to join their efforts for establishing a union for commercial and non-commercial risks Insurers and Reinsurers in their respective Member Countries.