Algiers – AMAN UNION, the premier professional forum for commercial and non-commercial risk insurers and reinsurers within the member countries of the Organization of the Islamic Cooperation (OIC), held its 14th Annual General Meeting from December 1st to 3rd, 2024, in Algiers. The meeting was hosted by the state-owned Algerian Export Insurance and Guarantees Company (CAGEX).

This gathering brought together leading professionals, experts, and stakeholders from the credit and political risk industry across the OIC member countries to discuss and deliberate on strategies to boost credit insurance and trade exchange, reflecting the shared commitment to fostering regional economic integration. The Annual General Meeting also serves as a platform for knowledge-sharing, fostering partnerships, and exploring new opportunities to enhance risk management and insurance services in the region.

Dr. Khalid Khalafalla, the Secretary-General of AMAN UNION commented: “We are pleased to host the 14th Annual General Meeting in Algeria. This event provides a unique opportunity for our members to unite, share insights, and collaborate on strategies that will enhance credit insurance and promote trade exchange across Africa, the Arab, and Islamic countries, ensuring sustainable growth and resilience in the region. As we navigate an increasingly complex global landscape, the role of AMAN UNION in fostering cooperation and innovation is more critical today. We look forward to fruitful discussions and insights that will benefit our stakeholders.”

ICIEC signed a landmark Reinsurance Agreement with CAGEX, Algeria’s national export credit agency, formalized during the 14th Annual Meeting of the AMAN UNION in Algiers. “This strategic partnership,” said Dr. Khalafalla, “is set to enhance export credit insurance capacity, empowering Algerian exporters to confidently expand into new markets. By strengthening risk mitigation mechanisms, we’re creating a more secure environment for export activities, fostering economic resilience, and encouraging diversification. Together with CAGEX, we’re committed to enhancing trade and investment across our member countries, supporting sustainable economic growth and regional prosperity.”

The event featured a comprehensive agenda, with keynote speeches and networking sessions, highlighting significant developments in AMAN UNION Member Institutions during 2023. Focus areas of the event include fostering regional cooperation for global sustainability, the role of credit insurance in promoting trade exchange and achieving SDGs, the importance of credit information in mitigating risks and maximizing trade credit recoveries, in addition to the role of Multilateral Development Institutions and Global Cooperation in unlocking AfricaArab trade potential.