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”.

ICIEC SIGNS MOU WITH SPANISH STATE EXPORT CREDIT AGENCY

October 5, 2020

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 17th 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.’’   

ICIEC SIGNS COOPERATIVE MOU WITH UK EXPORT FINANCE

October 4, 2020

On the 17th 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.”

ICIEC receives prestigious Global Islamic Export Credit and Political Risk Insurance Award 2020

September 14, 2020

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.

ICIEC boasts strong results for first half of the fiscal year despite pandemic implications

May 31, 2020

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.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has released its Annual Development Effectiveness Report (ADER) for 2019.

ICIEC actively supports Member Countries’ to achieve their development agendas, working in alignment with their unique path towards prosperity. The Corporation fulfills this role by mitigating trade-related political and commercial risks through shariah compliant insurance solutions.

The ADER highlights the tangible impact of ICIEC’s work on furthering human development and well-being within OIC Member Countries, including the Corporation’s impact on facilitating lasting development by providing insurance solutions for imports and exports of essential commodities, and the construction of critical infrastructure.

“The 2019 ADER results further cement ICIEC’s continued commitment to delivering on its mandate of supporting trade and investment in our 47 member countries” said ICIEC CEO, Mr Oussama Kaissi. “Assisting member countries in their economic development and diversification is the underlying goal of each transaction ICIEC makes. Analyzing the impact of our work is therefore critical to measuring our success.”

The ADER is available on ICIEC’s website at https://iciec.isdb.org/knowledge-center/annual-development-effectiveness-reports

Measuring Impact to Drive Lasting Change

August 19, 2020

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has released its Annual Development Effectiveness Report (ADER) for 2019.

ICIEC actively supports Member Countries’ to achieve their development agendas, working in alignment with their unique path towards prosperity. The Corporation fulfills this role by mitigating trade-related political and commercial risks through shariah compliant insurance solutions.

The ADER highlights the tangible impact of ICIEC’s work on furthering human development and well-being within OIC Member Countries, including the Corporation’s impact on facilitating lasting development by providing insurance solutions for imports and exports of essential commodities, and the construction of critical infrastructure.

“The 2019 ADER results further cement ICIEC’s continued commitment to delivering on its mandate of supporting trade and investment in our 47 member countries” said ICIEC CEO, Mr Oussama Kaissi. “Assisting member countries in their economic development and diversification is the underlying goal of each transaction ICIEC makes. Analyzing the impact of our work is therefore critical to measuring our success.”

The ADER is available on ICIEC’s website at https://iciec.isdb.org/knowledge-center/annual-development-effectiveness-reports

On July 22nd, 2020, a Memorandum of Understanding was signed between the Islamic Corporation for the Insurance and Investment of Export Credit (ICIEC) and Austrian Export Credit Agency (ECA) Oesterreichische Kontrollbank Aktiengesellschaft (OeKB).

The MoU is an agreement for OeKB and ICIEC to work jointly at increasing projects and investments from Austrian businesses and investors into ICIEC member countries. It will create opportunities for joint strategic projects between the two insurance entities in addition to other forms of cooperation such as technical assistance, training, and capacity building. The resulting trade flows and foreign investments will support sustainable economic development within the OIC

“ICIEC’s partnership with OeKB encourages Austrian businesses to participate in export transactions and make investments into member countries,” says ICIEC CEO, Oussama Kaissi, “The partnership is a critical move to demonstrate the dynamic and growing market potential that exists in the OIC despite perceived risk, thus incentivizing more western countries to consider the OIC region for foreign direct investment.”.

ICIEC’s partnership with peer ECAs and financial institutions in many countries allows for quick 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.

ICIEC and OeKB sign MOU to boost exports and investments into OIC countries

August 12, 2020

On July 22nd, 2020, a Memorandum of Understanding was signed between the Islamic Corporation for the Insurance and Investment of Export Credit (ICIEC) and Austrian Export Credit Agency (ECA) Oesterreichische Kontrollbank Aktiengesellschaft (OeKB).

The MoU is an agreement for OeKB and ICIEC to work jointly at increasing projects and investments from Austrian businesses and investors into ICIEC member countries. It will create opportunities for joint strategic projects between the two insurance entities in addition to other forms of cooperation such as technical assistance, training, and capacity building. The resulting trade flows and foreign investments will support sustainable economic development within the OIC

“ICIEC’s partnership with OeKB encourages Austrian businesses to participate in export transactions and make investments into member countries,” says ICIEC CEO, Oussama Kaissi, “The partnership is a critical move to demonstrate the dynamic and growing market potential that exists in the OIC despite perceived risk, thus incentivizing more western countries to consider the OIC region for foreign direct investment.”.

ICIEC’s partnership with peer ECAs and financial institutions in many countries allows for quick 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.

The webinar entitled, “IsDB Group Private Sector Action Response to COVID-19” will discuss the challenges facing the private sector and global economy during the COVID-19 outbreak.

 Dubai, UAE- The Islamic Development Bank Group in partnership with the UAE Ministry of Economy and Annual Investment Meeting, will conduct a live webinar entitled “IsDB Group Private Sector Action Response to COVID-19” on the 6th of July at 01:00 PM (KSA Time) to discuss the challenges facing the private sector and global economy during the COVID-19 outbreak.

The live session will also present the immediate joint action response of the IsDB Group Private Sector Entities namely, the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC), Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC), in order to overcome the COVID-19 pandemic.

The webinar will discuss the future outlook to overcome the COVID-19 pandemic. In addition, the webinar will highlight the IsDB Group’s US$2.3 billion Strategic Preparedness and Response Programme for COVID-19 under its 3Rs approach “Respond, Restore and Restart”.

The keynote speakers who will share their in-depth perspectives in the webinar are Mr. Ousama Kaissi, the Chief Executive Officer of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); Mr. Ayman Sejiny, the CEO & General Manager of the Islamic Corporation for the Development of the Private Sector (ICD), Eng. Hani Salem Sonbol, the Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) and Ms. Cornelia Meyer, the Chairman & CEO of Meyer Resources.

Mr. Mr. Oussama Kaissi, the Chief Executive Officer of The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and one of the keynote speakers in the webinar, stated: “While the disruption to global trade and investment flows is unavoidable due to the unprecedented nature of the coronavirus pandemic, it is essential that institutions with the mandate and means to stabilize the trade ecosystem during the crisis heighten their efforts to do so. ICIEC is honoured to be a part of this webinar with the UAE Ministry of Economy and our IsDB Group peers in order to share how we are employing our multilateral insurance solutions toward the collective recovery of member countries.”

“The private sector can play a pivotal and proactive role to close funding gaps in the COVID-19 response. It is capable to minimize short-term risks to employees and long-term costs to businesses and the economy as a whole. ICD will work closely with 100+ local and regional financial institutions in its network to provide necessary support so they can continue to fund private sector, particularly SMEs in affected sectors within the markets they operate in” stated Mr. Ayman Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD), and one of the keynote speakers in the webinar.

Eng. Hani Salem Sonbol, the Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) and one of the keynote speakers in the webinar, stated: “Since the outbreak of the pandemic, ITFC has moved quickly to put in place emergency financing measures to ensure that member countries continue to receive the support needed. Our COVID-19 ‘Rapid Response Initiative’ (RRI) has made US$ 300 million immediately available. This has facilitated the immediate access to medical equipment, the supply of staple foods and critical energy needs. Continuing to work closely with IsDB and partners, ITFC is moving forward with its Recovery Response Plan (RRP) with the provision of US$550 million for deployment over the next two years. The RRP is aimed at fixing the socio-economic damage which is expected to last longer than immediate impact of the virus; including the provision of lines of financing to fund the private sector and SMEs.”

“It is a great privilege to be in collaboration with the UAE Ministry of Economy and Islamic Development Bank Group in organizing this live webinar session that will tackle the major challenges currently being confronted by the private sector and the global economy as a whole,” Mr. Walid A. Farghal, Director General of the Annual Investment Meeting mentioned.

“The private sector is indispensable to economic growth. In fact, it contributes up to 90 per cent of employment and provides over 80 per cent of government revenues in developing countries. Thus, it is essential to highlight this huge initiative by the IsDB Group that enables the sectors adversely affected by COVID-19 to continue their business activities,” he furthered.

During the webinar, 3 online initiatives will be launched jointly by IsDB Group Private Sector Entities and AIM. These initiatives will support the private sector, trade and exports in OIC member countries and will be focusing on:

  • Digital Country Presentations: to promote and showcase the investment and trade opportunities in OIC member countries which will serve as a virtual gathering and strategic innovative platform to support the investors, government agencies, private institutions, investment promotion agencies to discuss the best possible means to attract FDI.
  • Startups Virtual Pitch Competition: to connect Startups globally and support them in meeting potential partners and investors from other parts of the world.
  • MADE IN…..SERIES: this digital platform is open to all SMEs who want to showcase and present their local products, project and services to international audience.

The webinar will gather more than 700 participants from multiple sectors across the globe such as government officials, Chairmen, Presidents & CEOs of local and international companies, multilateral and financial institutions, Chambers of Commerce & Industry, business associations, investment promotion agencies, individual investors, and entrepreneurs.

For further information, please refer to the following website (https://isdbg-psf.org/webinar)

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)

Established 26 years ago in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

About the Islamic Corporation for the Development of the Private Sector (ICD)

ICD is a multilateral development organization and a member of the Islamic Development Bank (IsDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its 55-member countries through providing financing facilities and/or investments in viable projects sponsored by eligible enterprises in accordance with the principles of Shari’ah. ICD also provides technical assistance and advisory services to member countries and their public and private enterprises with a view to improving the environment for private investment, facilitating the identification and promotion of investment opportunities, privatization of public enterprises and the development of the Islamic capital markets.  ICD applies Fintech to make finance more efficient and inclusive. ICD set up a platform built and centered on ICD relationship with 119 Financial Institutions. Through them, the IsDB Group in general and ICD in particular leverage access to the country and avail financing opportunities. For more information about ICD, visit www.icd-ps.org.

About the International Islamic Trade Finance Corporation (ITFC)

The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC Member Countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$51 billion to OIC Member Countries, making it the leading provider of trade solutions for the Member Countries’ needs. With a mission to become a catalyst for trade development for OIC Member Countries and beyond, the Corporation helps entities in Member Countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

About the Islamic Development Bank Group Business Forum (THIQAH)

The Islamic Development Bank Group Business Forum (THIQAH) is the window of IsDB Group that facilitate contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique and innovative platform for dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. THIQAH’s vision is to position itself as the leading business platform of the IsDB Group serving the private sector and maximizing the achievements of successful investment projects. Through facilitation and catalyst roles, THIQAH will be leveraging IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector in order to capitalize on their expertise and know-how on one hand, and to synergize with IsDB Group entities on the other. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group's financial products and services. (www.idbgbf.org).

Islamic Development Bank Group in partnership with the UAE Ministry of Economy and Annual Investment Meeting to Host a Live Webinar

July 8, 2020

The webinar entitled, “IsDB Group Private Sector Action Response to COVID-19” will discuss the challenges facing the private sector and global economy during the COVID-19 outbreak.

 Dubai, UAE– The Islamic Development Bank Group in partnership with the UAE Ministry of Economy and Annual Investment Meeting, will conduct a live webinar entitled “IsDB Group Private Sector Action Response to COVID-19” on the 6th of July at 01:00 PM (KSA Time) to discuss the challenges facing the private sector and global economy during the COVID-19 outbreak.

The live session will also present the immediate joint action response of the IsDB Group Private Sector Entities namely, the Islamic Corporation for Insurance of Investments and Export Credits (ICIEC), Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC), in order to overcome the COVID-19 pandemic.

The webinar will discuss the future outlook to overcome the COVID-19 pandemic. In addition, the webinar will highlight the IsDB Group’s US$2.3 billion Strategic Preparedness and Response Programme for COVID-19 under its 3Rs approach “Respond, Restore and Restart”.

The keynote speakers who will share their in-depth perspectives in the webinar are Mr. Ousama Kaissi, the Chief Executive Officer of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); Mr. Ayman Sejiny, the CEO & General Manager of the Islamic Corporation for the Development of the Private Sector (ICD), Eng. Hani Salem Sonbol, the Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) and Ms. Cornelia Meyer, the Chairman & CEO of Meyer Resources.

Mr. Mr. Oussama Kaissi, the Chief Executive Officer of The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and one of the keynote speakers in the webinar, stated: “While the disruption to global trade and investment flows is unavoidable due to the unprecedented nature of the coronavirus pandemic, it is essential that institutions with the mandate and means to stabilize the trade ecosystem during the crisis heighten their efforts to do so. ICIEC is honoured to be a part of this webinar with the UAE Ministry of Economy and our IsDB Group peers in order to share how we are employing our multilateral insurance solutions toward the collective recovery of member countries.”

“The private sector can play a pivotal and proactive role to close funding gaps in the COVID-19 response. It is capable to minimize short-term risks to employees and long-term costs to businesses and the economy as a whole. ICD will work closely with 100+ local and regional financial institutions in its network to provide necessary support so they can continue to fund private sector, particularly SMEs in affected sectors within the markets they operate in” stated Mr. Ayman Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD), and one of the keynote speakers in the webinar.

Eng. Hani Salem Sonbol, the Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) and one of the keynote speakers in the webinar, stated: “Since the outbreak of the pandemic, ITFC has moved quickly to put in place emergency financing measures to ensure that member countries continue to receive the support needed. Our COVID-19 ‘Rapid Response Initiative’ (RRI) has made US$ 300 million immediately available. This has facilitated the immediate access to medical equipment, the supply of staple foods and critical energy needs. Continuing to work closely with IsDB and partners, ITFC is moving forward with its Recovery Response Plan (RRP) with the provision of US$550 million for deployment over the next two years. The RRP is aimed at fixing the socio-economic damage which is expected to last longer than immediate impact of the virus; including the provision of lines of financing to fund the private sector and SMEs.”

“It is a great privilege to be in collaboration with the UAE Ministry of Economy and Islamic Development Bank Group in organizing this live webinar session that will tackle the major challenges currently being confronted by the private sector and the global economy as a whole,” Mr. Walid A. Farghal, Director General of the Annual Investment Meeting mentioned.

“The private sector is indispensable to economic growth. In fact, it contributes up to 90 per cent of employment and provides over 80 per cent of government revenues in developing countries. Thus, it is essential to highlight this huge initiative by the IsDB Group that enables the sectors adversely affected by COVID-19 to continue their business activities,” he furthered.

During the webinar, 3 online initiatives will be launched jointly by IsDB Group Private Sector Entities and AIM. These initiatives will support the private sector, trade and exports in OIC member countries and will be focusing on:

  • Digital Country Presentations: to promote and showcase the investment and trade opportunities in OIC member countries which will serve as a virtual gathering and strategic innovative platform to support the investors, government agencies, private institutions, investment promotion agencies to discuss the best possible means to attract FDI.
  • Startups Virtual Pitch Competition: to connect Startups globally and support them in meeting potential partners and investors from other parts of the world.
  • MADE IN…..SERIES: this digital platform is open to all SMEs who want to showcase and present their local products, project and services to international audience.

The webinar will gather more than 700 participants from multiple sectors across the globe such as government officials, Chairmen, Presidents & CEOs of local and international companies, multilateral and financial institutions, Chambers of Commerce & Industry, business associations, investment promotion agencies, individual investors, and entrepreneurs.

For further information, please refer to the following website (https://isdbg-psf.org/webinar)

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)

Established 26 years ago in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

About the Islamic Corporation for the Development of the Private Sector (ICD)

ICD is a multilateral development organization and a member of the Islamic Development Bank (IsDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its 55-member countries through providing financing facilities and/or investments in viable projects sponsored by eligible enterprises in accordance with the principles of Shari’ah. ICD also provides technical assistance and advisory services to member countries and their public and private enterprises with a view to improving the environment for private investment, facilitating the identification and promotion of investment opportunities, privatization of public enterprises and the development of the Islamic capital markets.  ICD applies Fintech to make finance more efficient and inclusive. ICD set up a platform built and centered on ICD relationship with 119 Financial Institutions. Through them, the IsDB Group in general and ICD in particular leverage access to the country and avail financing opportunities. For more information about ICD, visit www.icd-ps.org.

About the International Islamic Trade Finance Corporation (ITFC)

The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC Member Countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$51 billion to OIC Member Countries, making it the leading provider of trade solutions for the Member Countries’ needs. With a mission to become a catalyst for trade development for OIC Member Countries and beyond, the Corporation helps entities in Member Countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

About the Islamic Development Bank Group Business Forum (THIQAH)

The Islamic Development Bank Group Business Forum (THIQAH) is the window of IsDB Group that facilitate contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique and innovative platform for dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. THIQAH’s vision is to position itself as the leading business platform of the IsDB Group serving the private sector and maximizing the achievements of successful investment projects. Through facilitation and catalyst roles, THIQAH will be leveraging IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector in order to capitalize on their expertise and know-how on one hand, and to synergize with IsDB Group entities on the other. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group’s financial products and services. (www.idbgbf.org).

On June 30th, 2020, a Memorandum of Understanding was signed between the Islamic Corporation for the Insurance and Investment of Export Credit (ICIEC) and Uzbekistan National Export-Import Insurance Company (Uzbekinvest).

The partnership advances both parties’ respective operational mandates of providing insurance support for trade and investments. Uzbekistan is one of ICIEC’s 47 member countries and partnering with local ECAs allows both entities to extend the capacity of their insurance coverage, creating opportunity for larger trade transactions and development projects.

Uzbekistan is the geographic and population center of Central Asia. The country has a diverse economy and a young population which totals over 30 million. In recent years’ Uzbekistan has undertaken wide ranging market reforms aimed at increasing jobs and prosperity. The country benefits from abundant natural resources, low public debt, a growing labour force, and a strategic geographic position between China and Europe.

“This partnership is a key building block to support export development and Foreign Direct Investment in Uzbekistan,” says ICIEC CEO, Oussama KAISSI, “We look forward to a fruitful partnership with Uzbekinvest as we advance sustainable economic development in the country.”

The partnership between ICIEC and Uzbekinvest follows the signing of a Partnership Strategy for 2018-2021 between the Government of Uzbekistan and IsDB in 2018 – this strategy is focused on supporting sustainable socio-economic development in Uzbekistan through several bilateral and regional initiatives. The new MoU will create opportunities for joint strategic projects between the two insurance entities in addition to other forms of cooperation such as technical assistance, training, and capacity building.

ICIEC and Uzbekinvest Cooperate to Support Trade and Investments

July 21, 2020

On June 30th, 2020, a Memorandum of Understanding was signed between the Islamic Corporation for the Insurance and Investment of Export Credit (ICIEC) and Uzbekistan National Export-Import Insurance Company (Uzbekinvest).

The partnership advances both parties’ respective operational mandates of providing insurance support for trade and investments. Uzbekistan is one of ICIEC’s 47 member countries and partnering with local ECAs allows both entities to extend the capacity of their insurance coverage, creating opportunity for larger trade transactions and development projects.

Uzbekistan is the geographic and population center of Central Asia. The country has a diverse economy and a young population which totals over 30 million. In recent years’ Uzbekistan has undertaken wide ranging market reforms aimed at increasing jobs and prosperity. The country benefits from abundant natural resources, low public debt, a growing labour force, and a strategic geographic position between China and Europe.

“This partnership is a key building block to support export development and Foreign Direct Investment in Uzbekistan,” says ICIEC CEO, Oussama KAISSI, “We look forward to a fruitful partnership with Uzbekinvest as we advance sustainable economic development in the country.”

The partnership between ICIEC and Uzbekinvest follows the signing of a Partnership Strategy for 2018-2021 between the Government of Uzbekistan and IsDB in 2018 – this strategy is focused on supporting sustainable socio-economic development in Uzbekistan through several bilateral and regional initiatives. The new MoU will create opportunities for joint strategic projects between the two insurance entities in addition to other forms of cooperation such as technical assistance, training, and capacity building.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) jointly organized a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020.

This Event, which was hosted by Dr. Oussama Abdel-Rahman Kaissi - CEO of ICIEC and Mrs Latifa Elbouabdellaoui - Director General of ICDT, witnessed the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Sheikh Khalil Al Harthy (CEO of ECGA of Oman),and Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates) as the Moderator of the Webinar.

During this high-level virtual forum, participants discussed the role and experiences of insurance and export credit agencies (ECAs) in OIC countries along with the insurance sector response to the COVID-19 pandemic, while highlighting the importance of the investment and export credit insurance sector in covering risks for countries, local companies, and international trade partnerships.

“ICIEC is pleased to take part in this webinar with ICDT,” said Mr. Kaissi. “It’s critical that institutions with the mandate and means to support the response to COVID-19, are active in their efforts to do so as trade tensions are only worsened when credit insurance becomes more constrained. Credit insurance was designed to be a risk mitigation tool during times of economic uncertainty. ICIEC stands in solidarity with our partners and member countries - focusing immediate efforts on supporting their urgent needs”.

The Event ended with the concluding remarks of Mrs Latifa Elbouabdellaoui, Director General of ICDT.

-End-

For more details, please accede to the Briefing Note on the Webinar via the link below:

https://www.icdt-oic.org/RS_67/Doc/Webinar_Insurance_Credit_ENG.pdf

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) jointly organized a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020.

This Event, which was hosted by Dr. Oussama Abdel-Rahman Kaissi - CEO of ICIEC and Mrs Latifa Elbouabdellaoui - Director General of ICDT, witnessed the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Sheikh Khalil Al Harthy (CEO of ECGA of Oman),and Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates) as the Moderator of the Webinar.

During this high-level virtual forum, participants discussed the role and experiences of insurance and export credit agencies (ECAs) in OIC countries along with the insurance sector response to the COVID-19 pandemic, while highlighting the importance of the investment and export credit insurance sector in covering risks for countries, local companies, and international trade partnerships.

“ICIEC is pleased to take part in this webinar with ICDT,” said Mr. Kaissi. “It’s critical that institutions with the mandate and means to support the response to COVID-19, are active in their efforts to do so as trade tensions are only worsened when credit insurance becomes more constrained. Credit insurance was designed to be a risk mitigation tool during times of economic uncertainty. ICIEC stands in solidarity with our partners and member countries - focusing immediate efforts on supporting their urgent needs”.

The Event ended with the concluding remarks of Mrs Latifa Elbouabdellaoui, Director General of ICDT.

-End-

For more details, please accede to the Briefing Note on the Webinar via the link below:

https://www.icdt-oic.org/RS_67/Doc/Webinar_Insurance_Credit_ENG.pdf

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

ICIEC and ICDT Hosted a Joint Webinar on July 13th, 2020

July 15, 2020

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) jointly organized a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020.

This Event, which was hosted by Dr. Oussama Abdel-Rahman Kaissi – CEO of ICIEC and Mrs Latifa Elbouabdellaoui – Director General of ICDT, witnessed the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Sheikh Khalil Al Harthy (CEO of ECGA of Oman),and Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates) as the Moderator of the Webinar.

During this high-level virtual forum, participants discussed the role and experiences of insurance and export credit agencies (ECAs) in OIC countries along with the insurance sector response to the COVID-19 pandemic, while highlighting the importance of the investment and export credit insurance sector in covering risks for countries, local companies, and international trade partnerships.

“ICIEC is pleased to take part in this webinar with ICDT,” said Mr. Kaissi. “It’s critical that institutions with the mandate and means to support the response to COVID-19, are active in their efforts to do so as trade tensions are only worsened when credit insurance becomes more constrained. Credit insurance was designed to be a risk mitigation tool during times of economic uncertainty. ICIEC stands in solidarity with our partners and member countries – focusing immediate efforts on supporting their urgent needs”.

The Event ended with the concluding remarks of Mrs Latifa Elbouabdellaoui, Director General of ICDT.

-End-

For more details, please accede to the Briefing Note on the Webinar via the link below:

https://www.icdt-oic.org/RS_67/Doc/Webinar_Insurance_Credit_ENG.pdf

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) jointly organized a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020.

This Event, which was hosted by Dr. Oussama Abdel-Rahman Kaissi – CEO of ICIEC and Mrs Latifa Elbouabdellaoui – Director General of ICDT, witnessed the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Sheikh Khalil Al Harthy (CEO of ECGA of Oman),and Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates) as the Moderator of the Webinar.

During this high-level virtual forum, participants discussed the role and experiences of insurance and export credit agencies (ECAs) in OIC countries along with the insurance sector response to the COVID-19 pandemic, while highlighting the importance of the investment and export credit insurance sector in covering risks for countries, local companies, and international trade partnerships.

“ICIEC is pleased to take part in this webinar with ICDT,” said Mr. Kaissi. “It’s critical that institutions with the mandate and means to support the response to COVID-19, are active in their efforts to do so as trade tensions are only worsened when credit insurance becomes more constrained. Credit insurance was designed to be a risk mitigation tool during times of economic uncertainty. ICIEC stands in solidarity with our partners and member countries – focusing immediate efforts on supporting their urgent needs”.

The Event ended with the concluding remarks of Mrs Latifa Elbouabdellaoui, Director General of ICDT.

-End-

For more details, please accede to the Briefing Note on the Webinar via the link below:

https://www.icdt-oic.org/RS_67/Doc/Webinar_Insurance_Credit_ENG.pdf

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) will jointly organize a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020 at 11 am GMT.

The Webinar is set to discuss a number of topics relating to Insurance of Investment and Export Credit, including the role and experiences of Export Credit agencies (ECAs) in OIC countries, the benefits of their collaboration, and the sector’s response to the COVID-19 pandemic.

This Event will be chaired by Dr. Oussama Abdel-Rahman Kaissi - CEO of ICIEC and Mrs Latifa Elbouabdellaoui - Director General of ICDT and will feature the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Mr Sheikh Khalil Al Harthy (CEO of ECGA of Oman) and Mr Mehdi Haboub (Director of SMAEX Morocco).

Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates), will be the Moderator of the Webinar.

For your participation to this high-level encounter, please register via the link below:

https://us02web.zoom.us/webinar/register/WN_Yufv15O-SNq9Tpkl9M4Q8w

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established 26 years ago in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) will jointly organize a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020 at 11 am GMT.

The Webinar is set to discuss a number of topics relating to Insurance of Investment and Export Credit, including the role and experiences of Export Credit agencies (ECAs) in OIC countries, the benefits of their collaboration, and the sector’s response to the COVID-19 pandemic.

This Event will be chaired by Dr. Oussama Abdel-Rahman Kaissi - CEO of ICIEC and Mrs Latifa Elbouabdellaoui - Director General of ICDT and will feature the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Mr Sheikh Khalil Al Harthy (CEO of ECGA of Oman) and Mr Mehdi Haboub (Director of SMAEX Morocco).

Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates), will be the Moderator of the Webinar.

For your participation to this high-level encounter, please register via the link below:

https://us02web.zoom.us/webinar/register/WN_Yufv15O-SNq9Tpkl9M4Q8w

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established 26 years ago in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

ICIEC and ICDT will host a Joint Webinar on Monday July 13th, 2020 at 11 am GMT

July 11, 2020

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) will jointly organize a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020 at 11 am GMT.

The Webinar is set to discuss a number of topics relating to Insurance of Investment and Export Credit, including the role and experiences of Export Credit agencies (ECAs) in OIC countries, the benefits of their collaboration, and the sector’s response to the COVID-19 pandemic.

This Event will be chaired by Dr. Oussama Abdel-Rahman Kaissi – CEO of ICIEC and Mrs Latifa Elbouabdellaoui – Director General of ICDT and will feature the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Mr Sheikh Khalil Al Harthy (CEO of ECGA of Oman) and Mr Mehdi Haboub (Director of SMAEX Morocco).

Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates), will be the Moderator of the Webinar.

For your participation to this high-level encounter, please register via the link below:

https://us02web.zoom.us/webinar/register/WN_Yufv15O-SNq9Tpkl9M4Q8w

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established 26 years ago in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Islamic Centre for Development of Trade (ICDT) will jointly organize a Webinar on the “Impact of COVID-19 on the Insurance of Investment and Export Credit for Strengthening Intra-OIC Trade and Investment”, on Monday July 13th 2020 at 11 am GMT.

The Webinar is set to discuss a number of topics relating to Insurance of Investment and Export Credit, including the role and experiences of Export Credit agencies (ECAs) in OIC countries, the benefits of their collaboration, and the sector’s response to the COVID-19 pandemic.

This Event will be chaired by Dr. Oussama Abdel-Rahman Kaissi – CEO of ICIEC and Mrs Latifa Elbouabdellaoui – Director General of ICDT and will feature the participation of Mr Tarig Khalil Osman (Chairman of United Insurance Company of Sudan), Mr Enis Gultekin (DG of Turk Eximbank), Mr Sheikh Khalil Al Harthy (CEO of ECGA of Oman) and Mr Mehdi Haboub (Director of SMAEX Morocco).

Mr. Massimo Falcioni, CEO of Etihad Credit Insurance (ECI of United Arab Emirates), will be the Moderator of the Webinar.

For your participation to this high-level encounter, please register via the link below:

https://us02web.zoom.us/webinar/register/WN_Yufv15O-SNq9Tpkl9M4Q8w

About the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):

Established 26 years ago in 1994 as a multilateral institution and member of the Islamic Development Bank Group, ICIEC was tasked to promote cross-border trade and foreign direct investments (FDI) in its Member Countries. To fulfill its mandate, ICIEC provides risk mitigation solutions to Member Country exporters. By protecting them from commercial and political risks, exporters are enabled to sell their products and services across the world. The multilateral credit insurer also provides risk protection to investors from across the world that seeks to invest in ICIEC’s Member Countries. To promote the sustainable economic development of its Member Countries, ICIEC – on a limited basis – can also support international exporters selling capital goods or strategic commodities to ICIEC’s Member Countries. In addition to its core business, ICIEC also offers technical assistance to Member Countries’ Export Credit Agencies. ICIEC’s mission is to make trade and investment between Member Countries and the world more secure through the Shariah-compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions. Today, ICIEC supports trade and investment flows in 47 Member Countries spanning across Europe, Asia, Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as Export Credit Agencies and insurers.

ICDT: More than 35 Years at the Service of Trade and Investments Promotion among the OIC Member States

The Islamic Centre for Development of Trade (ICDT), established in Casablanca since 1984, is the Subsidiary Organ of the OIC entrusted with the mission of promoting Trade & Investments in OIC Countries. The creation of the Centre and the inception of the Standing Committee for Economic and Commercial Cooperation (COMCEC) during the 3rd Islamic Summit in Makkah Al Mukarramah in February 1981 was the starting point of the OIC action in the economic field. Since then, the Centre has throughout the years highly contributed to the development of Trade within the OIC Region by organizing numerous trade events such as fairs and exhibitions, training seminars as well as conferences and forums and by providing technical assistance to Member countries in the economic field. Those efforts combined to those of the OIC General Secretariat and other Islamic Institutions such as the Islamic Development Bank Group contribute to the achievement of the objectives of the Ten-Year Program of Action 2016-2025 in the economic field, aiming at raising Intra-OIC trade up to 25% in 2025. Mrs Latifa Elbouabdellaoui, Director General of ICDT, took office on February 2020. She was previously Director of International Trade Relations at the Ministry of Industry, Trade and Green and Digital Economy of the Kingdom of Morocco.

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