Improving the Role of Eximbanks/ECAs in the OIC Member States
146
Oman
The Export Credit Guarantee Agency of Oman S.A.O.C. (ECGA)
Name of Entity: The Export Credit Guarantee Agency of Oman S.A.O.C. (ECGA)
Status: Government owned 100% Corporate Form: Closely-held Company
Year of Establishment: 1991 Capital: N/A Size of staff: N/A
Financial Outturn (Net Income):
2008 2009 2010
RO th 135 716 621
USD th 356 1,883 1,635
Assets: N/A
Product Offerings
Financing: None
Guarantee
 Guarantees of Post-shipment financing of exports through bills discounting with the commercial banks
at concessional interest rates
 Pre-shipment financing facilities to exporters through commercial banks against guarantees issued by
ECGA for working capital requirements so as to meet and enhance the opportunity for their export sales
Insurance
 Export Credit Insurance against commercial and non-commercial risks. These include buyer’s
insolvency/bankruptcy, buyer’s failure to pay, buyer refusing delivery of goods, foreign exchange
transfer delay, import bans or cancellation of import license, payment moratorium, war, civil disorder,
natural disasters.
 Domestic credit insurance services to credit insured exporters so as to cover also local sales apart from
exports thus mitigating commercial risks of default and bankruptcy of the local buyers.
Bonding Facilities: None
Advisory and Other Services
 Assists and guides the exporters in recovering old outstanding and bad debts
 Advises exporters on credit-worthiness, payment records and financial position
 Commercial morality and other related information on the buyers which assist exporters in their
decision to extend credit by acting prudently
Islamic Finance Instruments: None
Business Volumes:
USD
Mn
Year
ST Export Credit
Insurance
211 2012
Domestic Credit
Insurance
53 2013
Source: Aman Union Performance Report 2012
and Aman Union Performance Analysis Report
2013
Top Exports / Export Markets:
Products Exported (2013)
HS Code Description Value (USD Mn) %
27 Oil & Gas 42,008 84.2%
28-38 Chemicals 3,131 6.3%
72-83 Metals 1,302 2.6%
Others 3,425 6.9%
Total 49,866 100.0%
Source: UN Comtrade
Top 3 Destinations (2013)
Order Country Value (USD Mn) %
1 China 21,041 42.2%
2 Japan 5,631 11.3%
3 Rep. of Korea 4,783 9.6%
Others 18,411 36.9%
Total 49,866 100.0%
Source: UN Comtrade