Istanbul, Türkiye

ICIEC signed a Memorandum of Understanding (MoU) with Turk Eximbank during the 35th Ministerial Session of the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC) in Istanbul. The agreement was signed by ICIEC CEO, Mr. Oussama KAISSI, and Turk Eximbank General Manager, Ali Guney. The MoU represents an important step forward in the already strong relationship between both institutions.

The MoU called for ICIEC and Turk Eximbank to increase their collaboration in a variety of areas, including risk sharing between the institutions, credit enhancement of Turk Eximbank’s financing and borrowing, increased information sharing, joint marketing and promotion efforts, as well as for cross-training between the organizations.

ICIEC’s longstanding partnership with Turk Eximbank has already been greatly beneficial for Turkish companies, especially those doing business abroad. ICIEC’s partnership with Turk Eximbank has allowed the bank to finance Turkish companies doing business in African countries. Therefore, this partnership has been instrumental in promoting Türkiye’s increased presence and economic cooperation with African states and private sector companies.

Another feature of ICIEC’s partnership with Turk Eximbank is the development of Türkiye’s crucial small and medium enterprise (SME) sector. As an example of this, ICIEC has provided EUR 180m cover for a loan to Turk Eximbank which the bank is to use for the expansion of Türkiye’s SME sector. The development of this sector is set to have a significant impact on the country’s sustained economic growth.