Ravi Vish

Demand for Shariah-compliant PRI increases in MENA

Various providers stated that the demand for Shariah-compliant PRI in MENA countries has increased significantly. Ravi Vish, director and chief economist of MIGA, also confirmed that request for political risk insurance (PRI) has increased to unprecedented levels, with PRI supply by members of the Berne Union remaining robust and pricing reflecting a buyer's market.
In the Arab Spring countries investors are waiting to see what the future will bring.
Moreover, a 2011 survey by MIGA-EIU showed that the turmoil in the Arab countries did have a significant impact on investor intentions. Violence and government instability are major factors putting off investors, who confirmed that they have not forseen the events in Egypt, Tunisia and Libya which frankly took them by surprise.

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