Export Bahrain signs MoU with ICIEC to Provide further options in export credit insurance services

Export Bahrain signs MoU with ICIEC to Provide further options in export credit insurance services

Export Bahrain and The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) have signed a Memorandum of Understanding (MoU) to provide further options in export credit insurance services to Bahrain-based businesses. The agreement intends to boost the support to Bahrain-based businesses in their export journey by indemnifying the exporters against the risk of nonpayment by foreign buyers. The issuance of export credit insurance is an important spectrum of trade finance as it allows exporters to confidently compete in global markets and to provide international buyers enhanced and competitive credit terms. The new partnership between Export Bahrain and ICIEC is the latest addition to the Export Credit Insurance solution, which aims to stimulate the export of services and products of national origin across various sectors to global markets; an added incentive and benefit that was not available to service exporters prior to this agreement. The MoU will also provide exporters with new alternatives and a variety of added benefits as Export Bahrain continuously seeks to add to the growing list of partners to enhance the services provided to Bahrain-based businesses. Export Bahrain Chief Executive Safa Sharif Abdulkhaliq said that Export Bahrain’s efforts are geared towards establishing exclusive partnerships