قام كل من مجموعة البنك المغربي للتجارة الخارجية في أفريقيا والمؤسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات (عضو مجموعة البنك الإسلامي للتنمية)، بالتوقيع على مذكرة تفاهم في 25 يناير 2021 بغرض دعم أنشطة التجارة والإستثمار في البلدان الأعضاء.

هذا وقد قام بالتوقيع على مذكرة التفاهم من جانب مجموعة البنك المغربي للتجارة الخارجية في أفريقيا كل من السيّد/ إبراهيم بن جلون التويمي، المتصرف المدير العام المنتدب، والسيّد/ محمّد أكومي، المديرالعام المنتدب المكلف بتنسيق المعاملات الدولية، بينما قام السيّد/ أسامة القيسي، الرئيس التنفيذي للمؤسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات بالتوقيع من جانب المؤسسة.

وبموجب مذكرة التفاهم هذه، فإن مجموعة البنك المغربي للتجارة الخارجية في أفريقيا، من منطلق رؤيته الإفريقية، والمؤسسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات، بصفتها مؤسسة تنموية متعددة الأطراف تتمثل مهمتها في تيسير تجارة البلدان الأعضاء مع باقي دول العالم، قد أتفقا على توحيد جهودهما عبر هذه الإتفاقية بغرض تعزيز التعاون من أجل تيسير المعاملات التجارية وتمويل مشاريع بنية تنموية واجتماعية مستدامة في افريقيا.

هذا وقد صرح السيّد/ أسامة القيسي، الرئيس التنفيذي للمؤسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات قائلاً: "تتم هذه الشراكة في وقت تم فيه تعزيز العلاقات بين المؤسستين بعد إبرام اتفاقات هامة في عدد من بلدان افريقيا الغربية، والتي لمجموعة البنك المغربي للتجارة في أفريقيا بصمة واضحة فيها. كذلك فإن المغرب يعد من أهم البلدان الأعضاء في المؤسسة، وقد ظلت المؤسسة تعمل مع مجموعة البنك المغربي للتجارة الخارجية في أفريقيا من أجل دعم المعاملات التجارية الإستراتيجية ومشاريع البنية التحتية، والتي تأتي دعماً للدول الأعضاء للحد من الآثار الناجمة عن جائحة كوفيد-19 على اقتصاداتها. كذلك، فإن مذكرة التفاهم هذه والموقعة بين المؤسستين ستعزز من هذه الشراكة، كما ستؤكد على رغبتهما في توسيع مستوى التعاون الذي يستهدف دولهما الأعضاء المشتركة".

من جانب آخر، قال السيّد إبراهيم بن جلون التويمي، المتصرف المدير العام المنتدب: "إن توقيع هذه الشراكة مع المؤسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات تؤكد استرايتجية مجموعتنا، تحت إشراف رئيسها، السيّد/ عثمان بن جلون، والتي تهدف إلى القيام بدور متزايد في أفريقيا من أجل تيسير المعاملات التجارية والتمويل المستدام لعملائها. كذلك أن من شأن هذا الإتفاق مع المؤسسة الإسلامية أن يعزز من قدرة المجموعة على المحافظة على موقعها الريادي، إذ تم الفراغ من إكمال عمليات مهمة بفضل الدعم الذي قدمته المؤسسة، كما أن هناك العديد منها ينتظر تنفيذه عبر الإبتكارالمشترك بين المؤسستين".

وأضاف السيّد محمّد أكومي، المدير العام المنتدب، المكلف بتنسيق المعاملات الدولية لمجموعة البنك المغربي للتجارة الخارجية في أفريقيا قائلاً: " بفضل مذكرة التفاهم هذه ودخول البنك إلى دبي وشنغهاي، فإن مجموعتنا ستتمكن من الإستفادة من تجربة المؤسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات، لنقوم بتطوير قاعدة عملائنا في منطقتي الخليج وجنوب شرق آسيا وذلك بتسهيل تدفق العمليات التجارية وتعزيز الإستثمارات المتبادلة".

عن المؤسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات:

المؤسسة الإسلامية لتأمين الإستثمار وائتمان الصادرات هي إحدى المؤسسات الأعضاء في عضو في مجموعة البنك الإسلامي للتنمية، تأسست في العام 1994 بغرض تعزيز العلاقات الاقتصادية بين البلدان الأعضاء لمنظمة التعاون الإسلامي، وتتمثل رؤيتها في أن تصبح المؤسسة الرائدة باعتبارها أداة التمكين المفضلة للتجارة واالستثمار بهدف تحقيق التنمية إلإقتصادية المستدامة في الدول الأعضاء في أن تعتبر حافزا ممتازا للتجارة والإستثمار من أجل نمو اقتصادي مستدام في الدول الأعضاء. تتمثل مهمتها في تيسير التجارة والإستثمار بين الدول الأعضاء وباقي دول العالم عن طريق توفير أدوات للتخفيف من حدة المخاطر وحلول مالية مطابقة للشريعة.

عن مجموعة البنك المغربي للتجارة الخارجية في أفريقيا:

تعتبر مجموعة البنك المغربي للتجارة الخارجية في افريقيا من المجموعات المالية الرئيسية لعموم افريقيا، وتعمل في 31 دولة في أفريقيا وأوروبا وآسيا وأمريكا الشمالية، ولديه مجموعة كبيرة من العلامات التجارية والشركات التابعة، كما أن نموذج عمله المصرفي العالمي قد شهد تنوعاً بحيث العمليات المصرفية التجارية والعمليات المصرفية، بالإضافة إلى الحدمات المالية المتخصصة كالتأجير والتخصيم والإقتراض الإستهلاكي.  تقوم المجموعة بتوظيف أكثر من 15200 موظف حول العالم، كما أن لديها 1800 من منافذ البيع والتي تقوم بخدمة ما يقل بقليل عن 6.6 مليون عميل.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and KUKE, the national Export Credit Agency (ECA) of Poland, have signed a cooperative Memorandum of Understanding (MoU).

The signing of this MoU signifies the growing interest of Polish exporters and investors to conduct business in the OIC region, and vice-versa. Due to the implications of the COVID-19 pandemic, demand is growing for insurance guarantees in markets where credit and political risks pose a greater challenge. Through the signed MoU, ICIEC and KUKE will work together to provide risk mitigation solutions for businesses and investors.

The MoU is designed to strengthen the existing collaborative efforts between the two insurance providers, enhancing their capacity to support trade and investment between Poland and ICIEC’s 47 member countries. In addition, the MoU encourages further forms of cooperation, including technical assistance and capacity building.

“The signing of this Memorandum of Understanding serves to reinforce the opportunities for trade and investment between both companies in OIC countries and to deepen the partnership ICIEC has forged with KUKE,” says ICIEC CEO Mr. Oussama Kaissi. “We hope that this partnership serves as an example to more western countries by demonstrating the dynamic and growing market potential that exists in OIC countries and to consider the region’s foreign direct investment potential.”

“ICIEC is an experienced partner with whom cooperation will help KUKE strengthen the presence of Polish exporters and investors from many industries on very promising markets” says KUKE CEO Janusz Władyczak. “While the uncertainty related to the pandemic has suspended some projects, we are already looking together to the future when the world will overcome the effects of the virus. Polish companies with an attractive combination of high quality products and services and competitive pricing are increasingly boldly looking for markets with a potential for growth outside of Europe. With the support of ICIEC and KUKE Polish exporters have a chance for a dynamic expansion on four continents.”

About ICIEC

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development Bank (IsDB) Group. ICIEC was established in 1994 as a multilateral institution to strengthen the economic relations between member countries of the OIC. ICIEC is rated Aa3 by Moody’s with a stable outlook. ICIEC’s vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. Its mission is to facilitate trade and investment between member countries and the world through the provision of Shariah compliant risk mitigation tools and financial solutions. iciec.isdb.org

ABOUT KUKE

For 30 years KUKE has been insuring trade receivables of Polish entrepreneurs and providing guarantees to facilitate safe trade and investments in Poland and abroad. We are the only insurance company in Poland providing export insurance backed by the State Treasury and covering long-term export transactions of capital goods. Our subsidiary KUKE Finance provides export and domestic factoring services. More about us: www.kuke.com.pl.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a Memorandum of Understanding (MoU) with Eximgarant of Belarus (Eximgarant), the Export Credit Agency (ECA) of the Republic of Belarus.

The signed MoU promotes collaborative efforts to support trade and investment between the Republic of Belarus and ICIEC member countries, encouraging joint export credit insurance provisions and other forms of cooperation such as technical assistance and capacity building.

This is the fifth MoU ICIEC has signed this year and the fourth with a European ECA. These partnerships facilitate flexible yet strong agreements for risk sharing in the form of reinsurance or co-insurance, supporting both parties to increase their risk appetite for trade transactions and investments.

“Through close collaboration with Eximgarant and other ECAs, both institutions are able to provide additional insurance capacity,” ICIEC CEO, Mr. Oussama Kaissi, says. “Through the expanded trade coverage supported by these partnerships, firms in member countries can access new markets, grow in existing markets, and in the process generate employment and economic growth. This new partnership with Eximgarant is helping to give a much-needed economic boost to ICIEC member countries, assisting them in recovering from the effects of the pandemic”.

The G20 Saudi Presidency for 2020 requested that Multilateral Development Banks (MDBs) conduct a stock-take study on “Best Practices of MDBs and Specialized Multilateral Insurers (SMIs) in Political Risk Insurance for Equity Investments, Medium and Long-Term (MLT) Debt Investments and other Insurance Solutions.”

Recognizing ICIEC -IsDB Group’s Insurance arm- expertise in Political Risk Insurance, the G20 Saudi Presidency mandated the Corporation, in coordination with other MDBs, to prepare the study for the Chair of the G20 International Financial Architecture (IFA) Working Group.

The study analyzes the current state of the political risk and credit insurance market for equity investments and MLT debt investments. It also identifies best practices and potential gaps in the market and provides recommendations on how identified gaps could be filled, particularly for low income countries and fragile states. Based on the study, four recommendations were developed for both users and providers of credit and political risk cover for equity and MLT debt.

ICIEC with peer Specialized Multilateral Insurers (SMIs) and ECAs continued commitment to the UN Sustainable Development Goals (SDGs) is reflected in the report through the examination of possible solutions for encouraging equity investments and MLT debt investments that can scale up capital flows to achieve the SDGs.

ICIEC CEO, Mr. Oussama KAISSI asserts, “the findings of this report will shape ICIEC’s future strategic focus from one that is centered on strengthening intra-OIC economic relations to expanding our role in insuring transactions that strengthen South-South trade.”

As the only Shariah compliant multilateral trade and investment insurer, ICIEC has a leadership role in developing the Islamic Finance Trade Credit & Political Risk Insurance industry. Building on the findings and recommendations of the study, ICIEC is working closely with the IsDB Group, other MDBs, and SMIs to educate the market on the benefits of Political Risk Insurance. ICIEC is also exploring further innovative product offerings in order to fill the exposed market gaps in member countries, with the goal of achieving a better and more sustainable future for all.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Development Bank (IsDB) have jointly launched the  COVID-19 Guarantee Facility, an innovative program providing US$2 billion in support of the private sector. The facility will be implemented by the two entities to support COVID-19 hit industries in the OIC member countries and to attract cross-border investments.

The COVID Guarantee Facility’s Framework Agency Agreement was signed by IsDB Group’s President, H.E. Dr. Bandar Hajjar, and ICIEC’s CEO, Mr. Oussama Kaissi, following the approval of IsDB’s Board of Executive Directors in its 336th meeting in June 2020.

The Agency Agreement assigns clear roles and responsibilities between the institutions based on their specializations, laying the foundation for a new operational model for the systematic partnerships between IsDB and IsDB Group entities. This agreement is expected to set the tone for mainstreaming synergies between ICIEC and other IsDB Group entities beyond the COVID Guarantee Facility.

ICIEC’s CEO, Mr. Oussama Kaissi, stated that “the framework agreement opens the door for new forms of cooperation between IsDB Group entities. ICIEC is very focused on addressing the challenges our Member Countries are facing in mitigating the repercussions of COVID-19 and we are dedicated to ensuring that the Corporation will meet all the framework’s requirements for the COVID-19 Guarantee Facility to be implemented successfully.”

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a Memorandum of Understanding (MoU) with Eximgarant of Belarus (Eximgarant), the Export Credit Agency (ECA) of the Republic of Belarus.

The signed MoU promotes collaborative efforts to support trade and investment between the Republic of Belarus and ICIEC member countries, encouraging joint export credit insurance provisions and other forms of cooperation such as technical assistance and capacity building.

This is the fifth MoU ICIEC has signed this year and the fourth with a European ECA. These partnerships facilitate flexible yet strong agreements for risk sharing in the form of reinsurance or co-insurance, supporting both parties to increase their risk appetite for trade transactions and investments.

“Through close collaboration with Eximgarant and other ECAs, both institutions are able to provide additional insurance capacity,” ICIEC CEO, Mr. Oussama Kaissi, says. “Through the expanded trade coverage supported by these partnerships, firms in member countries can access new markets, grow in existing markets, and in the process generate employment and economic growth. This new partnership with Eximgarant is helping to give a much-needed economic boost to ICIEC member countries, assisting them in recovering from the effects of the pandemic”.

On September 7th, 2020 the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a memorandum of understanding with Compañía Española de Seguros de Crédito a la Exportación, S.A., Compañía de Seguros y Reaseguros, SME (CESCE). CESCE is a Spanish Export Credit Agency (ECA) located in Madrid, Spain that manages the facilitation of export credit insurance on behalf of the State.

The partnership encourages cooperation in supporting trade and investment between Spain and ICIEC member countries through joint export credit insurance provisions in addition to promoting other forms of cooperation such as technical assistance and capacity building.

This MoU follows a string of recent ICIEC partnerships with European ECAs, including Austria’s OeKB and the U.K.’s UKEF. These partnerships facilitate responsive and flexible agreements for risk sharing in the form of reinsurance or co-insurance, encouraging both parties to expand their risk appetite for trade transactions and investments.

“During this time of economic uncertainty, ICIEC has placed high importance on building relationships with peer ECAs,” says ICIEC CEO, Mr. Oussama Kaissi. “By working jointly, the Corporation and its partners can increase the reach and depth of service offerings, therefore enabling both parties to provide the best support possible to our member countries”.

On the 17^th of August 2020, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a Memorandum of Understanding (MoU) for cooperation with the United Kingdom’s Export Credit Agency, which operates under the name UK Export Finance (UKEF).

The MoU allows for both entities to enter into co-insurance, reinsurance or cooperation agreements to engage in strategic joint projects that support exports and investments from the United Kingdom into ICIEC’s 47 member countries.

The partnership is beneficial for both institutions as they share an interest in promoting and supporting Islamic finance transactions. There is also potential for UKEF to risk-share with ICIEC and leverage on the Corporation’s preferred creditor status, across key international markets for UKEF’s support including UAE, Oman and Bahrain – all ICIEC member countries.

“This cooperation agreement strengthens the existing relationship the Corporation has with UKEF,” says ICIEC CEO Mr. Oussama Kaissi. “Despite, or perhaps due to the troubling times we’re living in, demand is growing for guarantees in OIC markets where credit and political risks pose a greater challenge. Having this partnership between two leading ECAs allows both institutions to take on larger projects with greater impact – better serving the citizens of ICIEC member countries.”

Richard Simon Lewis, | Director & Head of Business Development, Marketing & Communications said “UKEF is committed to the development of new relationships across new sectors, markets and regions which will expand the reach of its world class finance.  I therefore look forward to working with the ICIEC as we continue to help UK companies reach their full exporting potential by helping them to win, fulfil and get paid for international opportunities.’’   

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) was awarded  “The Global Islamic Export Credit and Political Risk Insurance Award for 2020”. The award was presented at the 10th annual Global Islamic Finance Awards (GIFA) that took place on September 14, 2020. 

The GIFA Awards Committee considered another three organisations in the same category and decided in favour of ICIEC after long deliberations based on a number of factors. This marks the fourth time ICIEC has received this accolade since its introduction in 2016 – previous awards occurring in 2016, 2017, and 2018 respectively.

“We are pleased to receive the prestigious Global Islamic Export Credit and Political Risk Insurance Award for 2020,” said ICIEC CEO, Mr. Oussama KAISSI, “We are truly amongst excellent peer recipients and nominees for the awards – each of which are highly respected organizations in the Islamic Finance industry”.

“During a year of global economic uncertainty, this award is a testament to the Corporation’s important mission to support our 47 member countries. It is a responsibility we do not take lightly and of course we are gratified when there is an opportunity to reflect on and celebrate our achievements.”

Sunday, May 31, 2020

JeddahSo far this year, 2020 has presented the world with an onslaught of challenges that have impacted businesses and the livelihoods of many civilians across the globe. From the fallout of devastating natural disasters to the implications of a global pandemic, ICIEC has been there to support member countries, their businesses, and their citizens.The corporation has been active in mitigating risks to keep trade and investment flowing through the provision of multilateral shariah compliant risk insurance solutions. While the economic outlook isn’t necessarily promising as the COVID-19 pandemic continues, ICIEC is proud to share positive performance results for the first half of the year, raising our total business insured by over 9%.

Business Insured by Region

Business has remained relatively stable across Asia and the SSAE regions, while growing 13% in the MENA region. This is likely due to the increased demand for insurance when oil prices are unstable.

Business Insured by Sector

The most notable sectoral increases are in energy, infrastructure and manufacturing support – with the Corporation nearly doubling the amount of infrastructure business insured compared to last year. ICIEC has increased business insured for energy related cables and electrical equipment, the manufacturing of foodstuffs, as well as building materials, construction and communications infrastructure.