Riyadh, February 21, 2025 — On February 19, 2025, the Arab Investment and Export Credit Guarantee Corporation (Dhaman) celebrated a monumental milestone in Riyadh, marking its golden jubilee as the world’s first multilateral investment guarantee body. The event, held under the patronage of Saudi Arabia’s Minister of Finance, Mohammed Aljadaan, brought together key stakeholders from across the Arab world to honor Dhaman's 50 years of significant contributions to regional economic development.
The jubilee ceremony featured a speech delivered by Deputy Minister of Finance for International Relations, Khaled Bawazier, who represented Minister Aljadaan. In his address, Bawazier highlighted the Kingdom’s ongoing commitment to supporting joint Arab institutions, underscoring the importance of Dhaman’s role in shaping the future of investment, trade, finance, and insurance sectors within the Arab region. He further emphasized that Saudi Arabia's hosting of the event reflected the Kingdom's dedication to fostering regional cooperation and promoting economic growth in Arab countries through institutional support.
Bawazier also reaffirmed Saudi Arabia's unwavering backing for Dhaman’s operations, plans, and programs, noting that as one of the corporation's largest shareholders, the Kingdom has a vested interest in ensuring the success and sustainability of the institution. He praised Dhaman's vision for expansion, both sectorally and geographically, with a particular focus on increasing its activities from its headquarters in Kuwait and its regional office in Riyadh. The Kingdom’s support, he emphasized, aligns with broader efforts to enhance the corporation's capacity to serve member countries and ensure the continued delivery of services that contribute to growth and prosperity across the Arab world.
The Deputy Minister also stressed the importance of collective action in achieving shared goals, particularly in advancing sustainable development across sectors. He called for greater regional cooperation, noting that Arab nations must strengthen local and regional institutions to effectively address challenges and stay ahead of global trends. With the world evolving rapidly, Bawazier emphasized the need for well-defined and actionable plans to ensure that the Arab region remains competitive on the global stage, contributing to the economic well-being of its people.
Founded in 1974 and headquartered in Kuwait, Dhaman was established as the first multilateral institution aimed at providing specialized insurance services against credit and political risks. Its primary objective is to facilitate foreign direct investment (FDI) into Arab countries and promote Arab exports and imports. The corporation’s work plays a pivotal role in enhancing the attractiveness of the region to international investors and fostering economic growth by mitigating risks associated with investment in Arab nations.
As it celebrates 50 years of impactful operations, Dhaman continues to serve as a cornerstone of economic cooperation among Arab states, driving efforts to bolster the region's global economic presence and ensuring the long-term sustainability of its financial and trade sectors. The golden jubilee serves not only as a reflection on the corporation's achievements but also as a call to action for renewed collaboration and forward-thinking strategies to address emerging economic challenges in the Arab world.