Saudi Arabia – Increasing insurance coverage of exports
Saturday, 07 30 2016, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Saudi Fund for Development expects to increase insurance coverage on Saudi exports by the Saudi Export Program given the increased commercial and political risks at the countries that import Saudi products, adding that new guarantees were introduced after the assessment of the financial solvency of importing countries.
The marketing and information department of the Saudi Fund for Development mentioned agreements with the banks of some countries, which suffer from political instability. This aims at averting the impact of the political instability in those countries on the activities of the fund. “In this situation we raise the credit limit as a precaution”.