Credit Oman Provides over RO1 Million Worth Financial Compensation

Muscat, The Export Credit Guarantee Agency S.A.O.C. (Credit Oman)

said that the value of financial compensations it has paid for Omani companies as of the

end of December 2018 stood at RO1,689,700 of which RO1,646,000 for export credit

insurance and RO43,560 for local credit insurance.

The compensation is part of the insurance services provided by Credit Oman to its

customers to promote Omani exports and products to help them have access to the

various world markets.

The Agency provides insurance against commercial and noncommercial risks which

include buyers’ bankruptcy or failure to make payment by refusing to receive the goods or

delay in making foreign currency transfers. The risks also include import embargo or

political risks, such as wars and natural disasters.

Source: Oman News Agency