Sadharan Bima Corporation
Last updated on 04 Dec 2024
Key facts
State-owned general insurance corporation operating under the direct supervision of the Ministry of Finance.
PUBLIC
1973
Credit rating (sovereign) (S&P)
BB-
BB-
Foreign currency
Local currency
Country trade data
2022 top export sectors
Apparel and footwear
89%
Other
10%
Leather product
1%
Apparel and footwear
88%
Other
11%
2021 export destinations
Financing modalities
`
85%
95%
Products
- Pre and post-shipment guarantees
- Guarantees are provided to banks providing loans to exporters and/or in respect to advances granted to exporters by ways of discount, purchase, or negotiation of export bills or loans granted
- Premium: 0.1 poisha per BDT 100 per month, payable on the highest amount of the outstanding loan balance
- Application fee: BDT 50 per export
- Comprehensive guarantee:
- Commercial at 85%
- Political at 95%
- Claims:
- Waiting period of 4 months following payment due date
- Settlement of up to 6 months depending on the loss caused
- Loans made against irrevocable L/C or firm contacts of sale to facilitate the manufacture, purchase, processing, or packing of goods for exporters
- Insurance for Bangladeshi exporters in fire, marine hull, marine cargo, motors, house holders, product liability, burglary, contractor's risk, engineering, public liability, and aviation sectors
Policies
- Exporters seeking post-shipment loans must have a comprehensive guarantee
- In the event of the insolvency of the exporter, proof must immediately be provided to SBC
- Any claims recoveries will be proportionally shared between SBC and the bank
