Oman's export agency approves credit limits for OMR5 million

Board of directors of Export Credit Guarantee Agency (ECGA) of Oman approved credit limits for more than OMR5 million at its meeting.

  
17 June 2015
MUSCAT: Board of directors of Export Credit Guarantee Agency (ECGA) of Oman approved credit limits for more than OMR5 million at its meeting on Sunday.

The fifth meeting for 2015 was chaired by Said bin Saleh Al Kiyumi and attended by the board members. During the board meeting, various topics were discussed related to ECGA of Oman services in promoting non-oil exports.

At the meeting, rhe board of directors of ECGA of Oman reviewed and approved various applications received from policyholders to obtain credit limits cover against their local as well as export sales.

The total credit limits approved during the board meeting amounted to OMR5,391,000 of which the total credit limits approved under domestic credit insurance amounted to OMR2,545,000 while the credit limits approved under the export credit scheme amounted to OMR2,846,000.

Export Credit Guarantee Agency of Oman sanctioned credit limits in favour of 20 export policyholders. While the number of overseas buyers whom approvals were made for reached 19 buyers.

It is worth mentioning that the board approved credit limits against the UAE buyers for an amount of OMR2,716,000 or 50 per cent of the total credit limits approved by the board during the meeting.

Moreover, the board of directors approved a claim for loss submitted by one of its policyholders against their foreign buyer where the claim amount was OMR59,928.

© Times of Oman 2015