Corporation in which Arab States have stakes maintains positive outlook

KUWAIT, March 27 (KUNA) — The Arab Investment and Export Credit Guarantee Corporation announced on Sunday that the international assessment agency Standard and Poor’s has maintained its AA rating for the corporation.
The corporation’s Director General Fahad Al-Ibrahim said in a statement that Standard and Poor’s’ maintained the rating at AA and altered its “future assessment of the corporation from negative to steady,” reflecting the forecast that it would maintain a robust record regarding operations and financial status, namely capitalization and “good profits.” The Kuwait-headquartered corporation is seeking to cope with challenges caused by regional events; namely decline of investment and commercial activities, by promoting new services and bolstering its operations in the market, Al-Ibrahim said.
He added that the corporation, founded in 1974 with 21 Arab States as members, along with four Arab financial institutions, encourages investments in Arab countries, seeks to promote exports by regional countries and bolstering diverse economic and social development services.
The corporation, also known as “Dhaman,” also publicizes the investment environment in the Arab countries, releasing a host of regular publications and holding relevant seminars for that purpose. (end) mke.rk