Improving the Role of Eximbanks/ECAs in the OIC Member States
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provides debt recovery assistance to its clients. CAGEX’s shareholders comprise of state-owned
banks and insurance companies.
CAGEX operates as a private insurance company, providing insurance on its own account, as well
as on behalf of the State. The business it insures on behalf of the State is driven by government
policy on export development.
CAGEX offers standard specific transaction insurance, as well as Whole Turnover insurance. In
addition, it offers Fairs and Exhibitions Insurance to cover exporters engaging in trade fairs,
exhibitions and other business events worldwide against risk of non-transfer of equipment and
exhibits, non-transfer of funds from the sale of products. It also offers a variety of guarantees to
companies and banks, in addition to specific services for rating of companies. It also offers debt
collection services.
Analysis
CAGEX is an active insurer and a well-managed ECA. As Algeria is dependent on oil exports the
ECA has been focusing more on domestic credit insurance. It has a successful reinsurance
program with ICIEC.
CAGEX partners with global insurance companies such as COFACE and Atradius to access their
global databases of buyers worldwide. In 2014, it set up a special arrangement with the state-
owned banks sharing its risk rating system in order to help improve their risk assessment of
borrowers. Occasionally, CAGEX collaborates with the national export promotion agency
(l'Agence nationale de la promotion du commerce extérieur). However, it appears to have no
direct input from the ministry.
3.4.2 Bahrain
Description:
The Export Credit Guarantee Programme of Bahrain was established as a facility under the
Bahrain Development Bank (BDB) in 2011. Working with COFACE, BDB signed an export credit
guarantee agreement with COFACE to implement the program.
The scheme which was to be managed by COFACE features key components, particularly the
export credit services available in global markets, and the required procedures for exporters,
importers and investments. In addition to providing technical services for the bank, COFACE
trained a group of BDB employees on export credit insurance. The program is focused on SME
businesses to promote their competitiveness and encourage young entrepreneurs towards
boosting the volume of exports in world markets. The program aims also at promoting the
volume and quality of exports and set up a comprehensive export credit guarantee database for
the bank.
The product is currently not featured on the BDB’s website.