Institution details
NAIFE - National Agency for Insurance and Finance of Export - Sudan (NAIFE)
Key facts
- Established in 2005
- Ownership: Public
Not Part of the OECD
Not part of the Berne Union
- Tower Savings and Social Development Bank Floor South
- +24 9183 747 107
- https://www.naife.org
Latest update: 03/12/2021
rating type | rating agency | type | rating |
---|---|---|---|
Institution rating | S&P | Foreign currency | N/A |
Country rating | S&P | Local currency | N/A |
Products
- Buyer credit
- Supplier credit
- Other products
Buyer Credit
- Covers Sudanese commercial banks that provide the funding in accordance with the principles of Islamic law for foreign buyers of Sudanese products
- Cover: Up to 90% for commercial and political risk
Supplier Credit
- Insurance to cover foreign buyer non-payment risks to Sudanese exporters
- Tenor: Up to 180 days
- Cover: Up to 90% for commercial and political risk, from date of shipment
- "Sub-products:
- Specified document process: Insurance for a special order produced with specific specifications; covers up to 90% except for the loss resulting from resale of goods which is covered at 70%
- Insurance policy L/C: Insures Sudanese commercial banks from the risk of non-payment of irrevocable L/Cs supporting exports shipped from Sudan; covers commercial and political risk for a term up to 1 year (renewable)"
Other Products
- Guarantees for the financing of:
- Insurance policies issued by regional institutions
- Shares registered in the Khartoum securities market
- Investment companies
- Direct storage and comprehensive commercial insurance covering all risks
- Storage certificate issued by recognized authorities
- Floating mortgages
Modality | Tenor | Cover type | coverage |
---|---|---|---|
Buyer credit | Short/medium/long-term | Comprehensive | 90% |
Supplier credit | Short-term | Comprehensive | 70%-90% |
Performance highlights
What's new?
- Does not finance petroleum or gold
- The insured (or bank, in the case of L/C) shall notify NAIF of any incident that entails risks covered bay NAIF within a month from the date of incidence
- Risks not covered for insurance: Currency devaluation, action taken by or with consent of the insured, and failure to obtain export approvals