Insurance of losses of financial institutions | Export insurance company «KazakhExport»

Insurance of losses of financial institutions

Insurance of losses of financial institutions is a tool that allows a Financial institution to have insurance coverage against the risk of non-payment by a Kazakhstan enterprise (Exporter) for its obligations under a Financial Services Agreement (opening a letter of credit, issuing a Bank guarantee, urgent currency transaction, granting a credit (loan, financing).

Insurance Procedure
  • KazakhExport provides insurance coverage for Financial institution against the risk of default.
  • The Financial institution provides the Exporter with a financial service (opening a letter of credit, issuing a Bank guarantee, urgent currency transaction, granting a credit (loan, financing)), the purpose of which includes the development of exports.
  • In case of default of the Borrower (Exporter), KazakhExport compensates the losses of the Financial institution.