12.08.2013 - Nigeria: SWF mulls monoline insurance to attract investors
The Nigeria Sovereign Investment Authority (NSIA), statutory fund manager for Nigeria’s sovereign wealth fund (SWF) is working out arrangements for a monoline insurance system that will enhance the credit worthiness of investments and the flows of foreign portfolio and direct investments into the country. Monoline insurance refers to provision of guarantees against defaults in a financial or investment transaction. It makes use of credit wraps to enhance the creditworthiness of an issuer or an investment project. Credit wrap, a form of financial guarantee, specifically insures a stated well-identified part of a transaction, thus the use of multiple credit wraps to cover as many parts of a transaction that may be required...............................................Full Article: Source
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