Lecture organized by United Insurance Company:Fight against international maritime fraud [Archives:2003/675/Community]

October 9 2003

Fahmia Al-Fotih
Sanaa, Oct 7 – Realizing the economic damage resulting from all kinds of international maritime fraud and its negative effects on trade activities in general and on the national economy in particular as well as its effects on local, Arab and international trade, United Insurance Company held on Sunday 5 October a seminar on international maritime fraud. The event was under the auspices of the Minister of Industry and Commerce and co-organized with the Sanaa Chamber of Commerce. Among the attendees were the deputy Minister of Industry and Commerce Khaled Al-Wazeer, Advisor of the Transport Ministry Mr. Iqbal Bahader, Chairman of the Yemeni Insurance Federation Mr. Ali Hashem along with the General Manager of Sanaa's Chamber of Commerce Mr. Abdulsalam Al-Samai, plus a host of concerned individuals representing various sectors and institutions.
Mr. Tariq Abdulwase' Hayel Saeed Anam, the General Manager of the United Insurance Co. addressed the attendance in the event by saying, “Realizing the dire need for cooperation of all those who work in the trade, banking and insurance fields to fight international maritime fraud, we have coordinately unified our stances against this dangerous phenomenon together. We would like through this seminar to raise awareness about the necessity of insurance that is still considered in Yemen -unlike other countries- one of the superfluous things in Yemen.”
“We in the United Insurance are pleased to organize this seminar to provide you with the main principles and techniques in fighting international maritime fraud, cherishing to shield trade activities on different levels, locally and internationally. Besides, the aim is supporting and insuring commercial work and clearing the atmosphere from all illegal means and operations and preventing spending millions of dollars for victims of international maritime fraud.”
He concluded “The United Insurance expresses its willingness to offer consultation for anyone who is exposed to any kind of fraud as well as offering solutions to reduce the potential losses and ensure continuity of the economic and trade activities. Moreover we would like to organize more seminars on insurance in general in the future.”
Mr. Shehab al-Anbaki, the head of statistics and research department in United Insurance Co., gave a lecture about the principles of fighting international maritime fraud and answered questions asked by the attendants.
It is noteworthy that the United Insurance Company is a prominent edifice in the field of insurance and it has taken a first step of its kind in Yemen by issuing a quarterly publication devoted to insurance issues and topics.