ECGA approves credit limit of RO 5 million

Muscat: The board of directors of Export Credit Guarantee Agency of Oman (ECGA), chaired by Said bin Saleh al Kiyumi, approved credit limit worth over RO 5.4 million of which the total credit limits approved under domestic credit insurance amounted to RO 2.5 million, while the credit limits approved under the Export Credit scheme amounted to RO 2.8 million.ECGA also sanctioned credit limits in

  
17 June 2015

Muscat: The board of directors of Export Credit Guarantee Agency of Oman (ECGA), chaired by Said bin Saleh al Kiyumi, approved credit limit worth over RO 5.4 million of which the total credit limits approved under domestic credit insurance amounted to RO 2.5 million, while the credit limits approved under the Export Credit scheme amounted to RO 2.8 million.

ECGA also sanctioned credit limits in favour of 20 export policyholders, while the number of overseas buyers whom approvals were made for reached 19. It may be noted that the board approved credit limits against UAE buyers for an amount of RO 2.7 million or 50 per cent of the total credit limits approved by the board.

The meeting discussed various topics related to ECGA and its role in promoting non-oil exports and reviewed and approved various applications received from policyholders to obtain credit limits cover against their local as well as export sales.

The board approved a claim for loss submitted by one of its policyholders against their foreign buyer amounted to RO 59,928.

© Oman Daily Observer 2015