Iran elected as member of AMAN union executive council

The Islamic Republic of Iran was elected as one of 5 members of AMAN Union's Executive Council."AMAN Union, launched in 2009, is a union of credit insurers of Islamic and Arab countries, which come together every year in one of the member countries to strengthen the cooperation channels amongst its members and contribute to the development of the export credit industry and investment insurance in Islamic world. This union also aims to develop and activate the role of Islamic Export Credit Agencies in supporting the economies of member states," Chairman and Managing Director of the Export Guarantee Fund of Iran (EGFI) Kazzem Doost Hosseini said "Owing to the fact that EGFI is an active member of the Union, which has one of the highest portfolios among the members, it was elected as a member of the Executive Council - a body which sets the general policy of the Union, controls its activities and reports back to the General Assembly - for a two-year period by a majority of votes in the Second General Assembly of the Union held in Istanbul, 3-4 October," Doost Hosseini stated. Other members of the Executive council are Turkey, Saudi Arabia, Tunis, and the UAE. Dhaman (representative of Arab Credit Insurers) and ICIEC (the insurance arm of the Islamic Development Bank) are other members of the council. Eighteen ECAs from the Union member states in addition to representatives of financial institutions, reinsurance, credit information and debt collection companies attended the General Assembly meeting in Turkey, which addressed technical issues related to export credit and investment insurance in Arab and Islamic member countries. EGFI chaired the 'Domestic Credit Insurance Panel' in the Assembly meeting in Turkey. The EGFI delegation also opened negotiations with some counterparts on expanding cooperation, specially in the field of reinsurance, on the sidelines of the General Assembly meeting.