Throughout their first joint meeting, twenty Arab and Islamic Export Credit Insurance Agencies (ECAs) launched the “Aman Union”, the first organization gathering investment and export credit agencies in the Arab and Islamic world. The launching was held in Beirut, Lebanon, on October 27 and 28, 2009, and was organized jointly by ICIEC and the Arab Investment & Export Credit Guarantee Corporation “Dhaman” in cooperation with the Lebanese Credit Insurer (LCI).

During the meeting, Ms. Kimberly Wiehl, the Secretary General of the Berne Union, delivered a keynote speech to the meeting on “measures taken by the Berne Union Members to face the impact of the crisis” which was followed by a lively discussion on the impact of the financial crisis on credit insurers. Senior executives from Arab and Islamic ECAs opened many topics and have mainly discussed the activities and new developments in their organizations following the influence of the financial crisis.

Mr. Karim Nasrallah, the General Manager of LCI, said on this matter in his welcome address that “no matter the debate, this financial crisis has had a positive impact on our line of business by creating more awareness for the product in our Regions and an increased demand for our services”.

The major aim of the union is to enhance cooperation among Arab and Islamic export credit institutions and to encourage the development of investment and export credit insurance in member countries.

During the event, LCI has invited all the participants and guests of the Arab and Islamic ECA’s meeting to a dinner at Fakhreddine Restaurant and has also organized a half day to a sightseeing tour of Byblos-Jbeil.

The joint ECA meeting was finally concluded by the signing ceremony that established the “Aman Union”.