Riyadh, KSA – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, is delighted to announce a significant collaboration with Export-Import Bank of Malaysia Berhad (MEXIM). The two entities have signed a Memorandum of Retakaful Arrangement (MoA) during the IsDB Group Annual Meeting 2024 held in Riyadh, Saudi Arabia.

The MoA establishes a high-level, non-binding, and non-exclusive framework designed to foster cooperation between ICIEC and MEXIM . The partnership aims to enhance collaborative efforts on mutually agreed projects and objectives, further detailed in an upcoming Treaty Agreement upon confirmation of treaty collaboration.

The signing ceremony was marked by the presence of distinguished leaders from both organizations, including Mr. Oussama Kaissi, CEO of ICIEC, and Mr. Wan Norazli Wan Suleiman, Head of Legal and Governance Division at MEXIM .

Mr. Kaissi expressed his enthusiasm about the new partnership, stating, “We are excited to embark on this journey with MEXIM , which marks a significant milestone in our mutual commitment to advancing economic growth and development through Shariah-based insurance solutions. This collaboration is poised to enhance our collective capabilities and meet our strategic objectives effectively.”

This alliance underscores the shared vision and commitment of both ICIEC and MEXIM  to explore new horizons and leverage their strengths for the greater good of their communities and the economies they serve.