The UAE represented by Saed Al Awadi, CEO of Dubai Exports, a unit of Department of Economic Development (DED) and managing director of Export Credit Insurance Company of Emirates (ECIE), has been elected as the chairman of executive council of Aman Union.

Aman Union is a professional forum assembling commercial and 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).

AlAwadi was elected at the second annual meeting held in Istanbul, Turkey, which addressed technical issues related to export credit and investment insurance in Arab and Islamic Member countries.

The UAE, which has got the post for the first time, will serve for a period of two years.

“As the new chairman of the council, we will work for the interest of all member countries as well as ensure that we will achieve Aman Union’s objectives of strengthening the cooperation channels and uniting efforts of each member and contribute to development of the industry of export credit and investment insurance in Arab and Islamic World,' said Al Awadi.

'In addition, we will employ various measures and adopt appropriate plans that will contribute to the development of mutual cooperation within different organisations in the future,' he added.

ECIE, headed by Al Awadi, has been continuously coordinating with all Arabic and Islamic Exports Insurance companies through its several strategic partnerships with leading companies in the industry.

Among the companies that ECIE is closely working with are Saudi-based Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the Arab Investment & Export Credit Guarantee Corporation (Dhaman) in Kuwait.

The Executive Council is considered as the highest authority in Aman Union, founded in 2009.

It includes an elite selection of export credit insurance companies, experts and technicians in the fields of credit insurance and investment including re-insurance companies and agencies of trade information, debt collection, and trade finance across the world.

Aman Union, which aims at developing and activating the role of the Arab and Islamic Export Credit Agencies in supporting and strengthening the economies of its member countries, organises an annual meeting once a year in one of the member countries.

The union now comprises of 24 members from 17 credit guarantee authorities with full membership belonging to Arabic and Islamic countries, three associate members and four observation members from different countries.

The Export Credit Insurance Company of Emirates (ECIE), based in the UAE, provides a package of credit guarantee and risks services for local exporters.-TradeArabia News Service