In the first annual meeting of "Aman Union", bringing together credit insurance companies from Islamic countries, "Export Guarantee Fund of Iran" (EGFI)'s performance was outstanding among other members, EGFI's Chairman & CEO said.
Seyedkamal SeyedAli, EGFI's Chairman & CEO, coming back from this meeting which was held in Tunisia, noted that thanks to nearly USD 3 billion cover extended to Iranian exports and outward investments in 2009 which shows around 300% growth compared with its portfolio in 2008, EGFI stood first or second in different indices among the Union members. In "premium received" index, with USD 25 million, EGFI ranked first while in "Insured Business", ranked second after Eximbank of Turkey with USD 4.5 billion. The members of the Union had totally insured transactions of about USD 13.1 billion in 2009, 22.5% of which belonged to EGFI.
AMAN Union was established in October 2009 to promote trade and investment among OIC member countries through expansion of cooperation among Islamic Export Credit Agencies as well as their improved relations with reinsurance, debt collection and credit information companies. Upgrading members' performance to international standard level, exchange of information and technical expertise among members, co-insurance, and reinsurance are the main objectives of this Union.
EGFI is a founding member of AMAN Union, and a member of its "Executive Council" which sets the main strategies of the union. Other members of this council are ICIEC (Insurance arm of Islamic Development Bank), Dhaman (multilateral Arab ECA), and ECAs of Turkey, Malaysia, Tunisia, and UAE. As Seyed Ali stated, "EGFI's membership in this Union could facilitate Iranian exports to and outward investments in Islamic countries"