SACE, the Italian export credit agency, owned by the Ministry of Economy and Finance, and Qatar Development Bank (QDB) have signed a reciprocal reinsurance agreement to support export credit transactions involving Italian and Qatari suppliers in international markets.
The signing ceremony took place on 11 June.
QDB’s participation is structured on a Shariah-compliant basis, in line with Islamic finance principles, making this SACE’s first fully Shariah compliant reinsurance arrangement.
SACE said in a statement, “The agreement marks a further step in strengthening the ties between Italy and Qatar and reflects the shared commitment of SACE and QDB to supporting business growth and promoting cross-border trade through dedicated insurance and risk-sharing solutions.”