Export-Import Bank of Malaysia Berhad (EXIM Bank), together with The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Arab Investment and Export Credit Guarantee Corporation (DHAMAN) jointly organised the 3^rd AMAN Union Annual Meeting from 20 – 22 November 2012 which was held in Mandarin Oriental Kuala Lumpur, Malaysia and was officiated by Y.B. Senator Dato’ Dr. Awang Adek Hussin, the Deputy Finance Minister  of Malaysia.

AMAN Union Annual Meeting is a yearly gathering which assembles Commercial and Non-Commercial credit and political Risks Insurers and Reinsurers from member countries of the Organisation of the Islamic Cooperation (OIC), and also a ground-breaking event for the global Islamic business community to meet, interact and transact business.

The Forum brings together over 80 participants from partners in the field of export credit insurance. A number of special invitees and speakers/panelists including Dr. Mohammed Emir Mavani Abdullah, Director, Oil, Gas & Energy and Financial Services Performance Management and Delivery Unit (PEMANDU) and Dr. Frederico Gil Sander from the Multilateral Investment Guarantee Agency (MIGA) / World Bank will discuss on the recent developments in the industry during the event. The keynote speaker Mrs Diana Smallridge, the President and CEO of the International Financial Consulting spoke on “ECA’s, Critical Public Agents in Promoting Trade and Economic Development”.

The 2-day meeting discussed the latest development and updates in the industry, member’s expectations for the year 2013, impact of the global current credit crunch on the AMAN UNION members, as well as global trade as a whole. The Secretariat presented the 2011 Annual Report of the Union which reveals that the insured business by members reached USD 17.04 billion against 15.06 billion in 2010, an increase of a healthy 17.6% compared to 2010.

The AMAN Union Database Center was officially launched during the Meeting. AMAN Union Secretary-General, Dr. Abdel-Rahman El-Tayeb Taha commented “The AMAN Union Database is the first of its kind and is established for the benefit of national export credit insurance agencies in the Arab and Islamic countries. We are confident that the establishment of this Database Center will help in solving issues on reliability and cost of credit information in our Region”, Dr. Taha added, “This will enable members of the Union to share and exchange their underwriting knowledge and experience on.”

Dr. Abdel Rahman Taha who is also the CEO of the Islamic Corporation for the insurance of Investment and Export Credit Insurance (ICIEC), expressed deep concern over the prevailing uncertain economic outlook globally. “The union is now holding its 3^rd Annual Meeting in difficult economic times that will require more effort in the industry to face these challenges” stated Dr. Taha.

“We believe this Forum is playing a critical role in bringing the industry captains together to create a collective impact to advance the future of the credit insurance and reinsurance industry in Islamic and Arab Countries” said Dato’ Adissadikin Ali, Managing Director/Chief Executive Officer of EXIM Bank Malaysia.

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ABOUT AMAN UNION

The AMAN UNION was launched under the leadership of ICEIC, the Islamic Corporation for the insurance of Investment and Export Credit Insurance, an affiliate of the Islamic Development Bank based in Jeddah, and Dhaman, the Arab Investment and Export Credit Guarantee Corporation based in Kuwait. Thus, during the 1st Joint Meeting of Arab and Islamic WECAs held in Beirut, Lebanon on October 27-28, 2009. The Union is the first organization gathering investment and export credit agencies in the Arab and Islamic World under one umbrella, it aims at enhancing cooperation among Arab and Islamic export credit institutions and encouraging the development of investment and export credit insurance industry in its Member Countries. The Union also offers technical assistance to establish new agencies while also enhancing the insurance capacity of existing agencies. Including ICIEC and Dhaman, the Union currently has 17 members from more than 15 countries.

ABOUT EXIM BANK

Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly owned by the Ministry of Finance (Incorporated). The Bank has assisted a diverse range of Malaysian business in an equally diverse range of sectors in their global ventures. EXIM Bank is taking pride in meeting its mandate role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services.

The Bank serves a diverse range of clientele that consists of large corporations, SMEs, foreign governments and foreign companies and covering all sectors ranging from trading, manufacturing and infrastructure.

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