Finance Minister Mohammed Aljadaan Celebrates Golden Jubilee Of Arab Investment And Export Credit Guarantee Corporation

The Arab Investment and Export Credit Guarantee Corporation (Dhaman) marked its 50th anniversary on February 19 in Riyadh. This event was held under the auspices of Minister of Finance Mohammed Aljadaan. Deputy Minister Khaled Bawazier delivered a speech on Aljadaan's behalf, highlighting Saudi Arabia's commitment to supporting joint Arab initiatives and enhancing Dhaman's role in economic development.

Saudi Arabia remains a major shareholder in Dhaman, reflecting its interest in the corporation's success. The Kingdom supports Dhaman's management vision to expand activities both sectorally and geographically from its Kuwait headquarters and Riyadh office. This support is crucial for the corporation's growth and prosperity.

Bawazier emphasized the importance of cooperation and integrated efforts to achieve shared goals. He noted that sustainable development across various sectors requires regional collaboration. This involves aligning with global advancements through clear, actionable plans at all levels, strengthening institutions to address challenges effectively.

Dhaman was founded in 1974 as a multilateral institution based in Kuwait. It includes all Arab countries and four joint Arab financial institutions. The corporation offers insurance services against credit and political risks, aiming to facilitate foreign direct investments into Arab nations and promote exports and imports.

The Kingdom's hosting of this significant event underscores its dedication to supporting Arab institutions like Dhaman. Bawazier stressed Saudi Arabia's ongoing support for Dhaman's operations, plans, and programs. This effort aims to enhance the corporation's ability to serve member countries effectively.

Saudi Arabia endorses Dhaman’s vision for expansion, which is vital for addressing regional challenges. The focus is on strengthening local and regional institutions to better serve the economies and people of Arab nations, ensuring continued service delivery for growth.

The celebration highlighted Saudi Arabia’s role in fostering economic development through strategic partnerships with entities like Dhaman. By supporting these initiatives, the Kingdom aims to bolster investment, trade, finance, and insurance sectors across the Arab region.

With inputs from SPA