Thailand: EXIM bank expands trade and investment insurance services
Source: Asia Insurance Review | Oct 2018
The Export Import Bank of Thailand (EXIM Thailand) has expanded its scope of trade and investment insurance services, its president Pisit Serewiwattana has said.
The expansion in services was enabled by a revision to the Export-Import Bank of Thailand Act in July 2018, reports The Nation.
New services include:
- investment insurance provided not only to EXIM Thailand’s loan customers but also to commercial banks’ clients as well as commercial banks lending to Thai investment projects abroad;
- export credit insurance to suppliers of products or services to Thai exporters; and
- insurance protection for financial institutions against unfair calling of bonds issued to Thai business operators overseas.
The enlarged scope of insurance services is to support Thai entrepreneurs in their contract bidding and trade and investment expansion beyond Thailand. Service provision will be made in collaboration with financial institutions and insurance agencies at home and overseas to promote mutual benefits as well as furthering economic and social development at both regional and global levels, said Mr Pisit.
EXIM Thailand was established in 1993. A