Institution details

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KazakhExport EIC JSC (KazakhExport)

Key facts

  • Established in 2003
  • Ownership: Public
Not Part of the OECD Part of the Berne Union

Latest update: 03/12/2021

Products

  • Exporter credit insurance
  • Bank-to-bank letter of credit insurance and other bank products
  • Investment insurance

Exporter's credit insurance


  • Insures Kazakh exporters against the risk of loss associated with payment default by foreign buyers
  • Eligibility: Kazakh exporters of non-primary goods, works, and services
  • Insurance coverage:
    - Political risks: Up to 80% of the amount of loss incurred
    - Commercial risks: Up to 80% of the amount of loss incurred


Bank-to-bank letter of credit insurance and other bank products 


  • The program stimulates demand for domestic products from foreign buyers by providing indirect cover to second-tier banks of Kazakhstan who in turn are providing issuing bank letter of credits to the Kazakh exporters  
  • Cover: Up to 100% of the risk of default on obligations by the issuing banks for commercial and political risks
  • Insurance premium: Determined by evaluating country risk and the credit quality of the issuing bank letter of credit
  • For the issuing bank, the program provides:
    - Financing under contracts for the supply of a non-primary product/service of Kazakh origin
    - Rate for financing: СIRR + 2% per annum
    - Financing period: Up to 1 year
    - Maximum size of one deposit (placed for each received package of shipping documents): KZT 150 million or equivalent amount in foreign currency
  • Other bank products with similar cover include:
    - Trade financing
    - Insurance of documentary credits
    - Bank payment guarantees insurance
    - Bank counter-guarantees insurance
    - Reinsurance in the general insurance sector


Investment insurance


  • Protects the domestic investor against the risks of a political nature for direct foreign investment
  • Eligible investment assets:
    - Securities
    - Property rights for licensing and international leasing
    - Loans, credits, and other types of borrowed money 
  • The geography of insurance coverage is not limited
  • Risks covered: Political risks up to 90% of the amount of loss incurred

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