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 organized the 3rd AMAN Union Annual Meeting held in Mandarin Oriental Kuala Lumpur, recently 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 Organization of the Islamic Cooperation (OIC), and also a groundbreaking 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 Diana Smallridge, 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 revealed that the insured business by members reached $17.04 billion against $15.06 billion in 2010, an increase of a healthy 17.6 percent compared to 2010. The AMAN Union Database Center was officially launched during the meeting. AMAN Union Secretary-General Dr. Abdel-Rahman El-Tayeb Taha said “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.” “This will enable members of the Union to share and exchange their underwriting knowledge and experience on,” he added. — SGTaha 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 3rd Annual Meeting in difficult economic times that will require more effort in the industry to face these challenges.” “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. — SG
