Iran’s and Kazakhstan’s export credit agencies, the Export Guarantee Fund of Iran (EGFI) and KazExportGarant, have signed a memorandum of understanding (MoU) on co-operation.

Similar to a succession of agreements recently closed between EGFI and other ECAs, the MoU sets the scene for increased promotion of trade and investment between the two countries, and collaboration in the fields of reinsurance and co-insurance.

According to Seyed Kamal Seyed Ali (pictured, right), chairman and CEO of EGFI, the deal will see Iran and Kazakhstan exchange information on buyers’ credit status, claims prevention, recovery and debt collection, amongst others.

The MoU was signed on the sidelines of the sixth annual meeting of the Aman Union, the association of Islamic credit insurers. The meeting also saw KazExportGarant promoted from associate member to full member, and two new institutions adopted as observers (Dun & Bradstreet South Asia Middle East and Lebanon’s Near East Commercial Bank).