Credit Oman
Last updated on 23 Feb 2024
Key facts
An independent legal entity funded by the Oman government that provides insurance, guarantees and financing for Omani exporters.
PUBLIC
1991
Credit rating (sovereign) (S&P)
BB+
BB+
Foreign currency
Local currency
Country trade data
2021 top export sectors
Fuels
60%
Metals
8%
Chemicals
8%
Plastic or rubber
6%
Transportation
5%
2022 export destinations
Financing modalities
`
80%
85%
Products
- Insures short term receivables
- Covers foreign and domestic receivables
- Tenor: Up to 180 days
- Cover: Commercial and political risk
- Benefits may be assigned
- Multibuyer insurance:
- Full or majority buyer portfolio coverage
- Discretionary limits are available
- Simplified policy for SMEs
- Extended short-term credit insurance policy:
- Insures its holders against the payment default of their corporate buyer for the sales of goods and services, payable by installments, over a period of up to 36 months
- Provides cover against the non-payment and insolvency of the LC opening bank (Importer’s bank) while adding confirmation to the Letter of Credit, thereby absolving its exporter client from all the credit risk involved in the transaction
- Cover: Maximum 90%
- Insures the advance payments that the policyholder is carrying out, for both local and international suppliers.
- Cover: Supplier payment default or insolvency risks
- Benefits may be assigned
Policies
- The agency provides export insurance cover to Omani non-oil exporters to promote Omani exports
