Under the patronage of Saudi Arabia’s Minister of Finance Mohammed Aljadaan, the Arab Investment and Export Credit Guarantee Corporation (Dhaman) celebrated its golden jubilee on February 19, 2025, in Riyadh. This milestone marks 50 years since Dhaman’s establishment as the world’s first multilateral investment guarantee body, underscoring Saudi Arabia’s commitment to fostering economic collaboration across the Arab region.
Context and Background
Founded in 1974 and headquartered in Kuwait, Dhaman comprises all Arab countries and four joint Arab financial institutions. Its mission is to provide specialized insurance services against credit and political risks, facilitating foreign direct investment and promoting Arab exports and imports. Saudi Arabia, as one of its largest shareholders, has consistently supported Dhaman’s operations and strategic initiatives.
Key Details
Deputy Minister of Finance for International Relations Khaled Bawazier delivered the ceremony’s keynote speech on behalf of Minister Aljadaan. He highlighted Saudi Arabia’s unwavering support for Dhaman’s mission to enhance trade, finance, and insurance sectors, which are vital for economic development in the Arab region. Bawazier emphasized the Kingdom’s commitment to strengthening regional institutions and fostering sustainable growth through integrated efforts.
Implications and Impact
The celebration of Dhaman’s golden jubilee in Riyadh reflects Saudi Arabia’s leadership in promoting joint Arab action and economic integration. By hosting this event, the Kingdom reinforces its role as a key driver of regional development and its dedication to addressing challenges through collaboration. This aligns with broader efforts to enhance Arab economies and ensure their competitiveness on the global stage.
Vision 2030 Alignment
Saudi Arabia’s support for Dhaman aligns with its Vision 2030 goals of fostering economic diversification, strengthening regional partnerships, and enhancing international trade. By bolstering institutions like Dhaman, the Kingdom contributes to sustainable development and prosperity across the Arab world, further cementing its position as a global economic leader.
20 Questions
Q1. What is Dhaman?
A1. Dhaman, or the Arab Investment and Export Credit Guarantee Corporation, is a multilateral institution established in 1974 to provide insurance against credit and political risks, facilitating foreign direct investment and trade in Arab countries.
Q2. Who sponsored Dhaman’s golden jubilee ceremony?
A2. The ceremony was sponsored by Saudi Arabia’s Minister of Finance, Mohammed Aljadaan.
Q3. Where was the golden jubilee celebration held?
A3. The celebration took place in Riyadh, Saudi Arabia.
Q4. What is Dhaman’s primary mission?
A4. Dhaman’s mission is to promote foreign direct investment and Arab trade by providing insurance against credit and political risks.
Q5. When was Dhaman established?
A5. Dhaman was established in 1974.
Q6. Who delivered the keynote speech at the ceremony?
A6. Deputy Minister of Finance for International Relations Khaled Bawazier delivered the speech on behalf of Minister Aljadaan.
Q7. What role does Saudi Arabia play in Dhaman?
A7. Saudi Arabia is one of Dhaman’s largest shareholders and a key supporter of its operations and initiatives.
Q8. Why is Dhaman significant for Arab economies?
A8. Dhaman facilitates foreign investment and trade, which are crucial for economic growth and development in Arab countries.
Q9. What does Dhaman’s golden jubilee mark?
A9. The golden jubilee marks 50 years since Dhaman’s establishment as the world’s first multilateral investment guarantee body.
Q10. How does Saudi Arabia support Dhaman?
A10. Saudi Arabia supports Dhaman through financial contributions, strategic backing, and hosting key events like the golden jubilee ceremony.
Q11. What sectors does Dhaman focus on?
A11. Dhaman focuses on investment, trade, finance, and insurance sectors.
Q12. What is the significance of hosting the ceremony in Riyadh?
A12. Hosting the ceremony in Riyadh highlights Saudi Arabia’s leadership in promoting Arab economic collaboration and regional development.
Q13. How does Dhaman contribute to sustainable development?
A13. Dhaman supports sustainable development by facilitating investments and trade that drive economic growth in Arab countries.
Q14. What is Saudi Arabia’s Vision 2030?
A14. Vision 2030 is Saudi Arabia’s strategic framework to diversify its economy, strengthen regional partnerships, and enhance global competitiveness.
Q15. How does Dhaman align with Vision 2030?
A15. Dhaman aligns with Vision 2030 by fostering economic integration, trade, and investment, which are key pillars of the Kingdom’s strategic goals.
Q16. What challenges does Dhaman address?
A16. Dhaman addresses challenges related to credit and political risks that hinder foreign investment and trade in Arab countries.
Q17. What is the role of Arab countries in Dhaman?
A17. All Arab countries are members of Dhaman, collaborating to promote investment and trade across the region.
Q18. What is Dhaman’s headquarters location?
A18. Dhaman is headquartered in Kuwait, with a regional office in Riyadh.
Q19. How does Dhaman promote Arab exports?
A19. Dhaman promotes Arab exports by providing insurance against risks, making trade more secure and attractive for businesses.
Q20. What is the long-term vision for Dhaman?
A20. Dhaman aims to expand its services geographically and sectorally, strengthening its role in supporting Arab economies and fostering regional prosperity.
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