ICIEC Export Credit and Investment Insurance Surges 29% in 1435H

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IDB), facilitated US$4.3 billion of exports and investments for its member countries in 1435H (2014), an increase of 29% compared to previous year 1434H (2013).

In its 22^nd Annual Meeting held in Maputo on Thursday (June 11, 2015), the ICIEC Board of Governors under the Chairmanship of His Excellency Mr. Adriano Alfonso Maleiane, Minister of Economy and Finance of the Republic of Mozambique, approved the Annual Report and financial results of the Corporation for 1435H.

Commenting on the results, Eng. Hani Salem Sonbol, Acting Chief Executive Officer of ICIEC, said “the business growth is a result of the strong collaboration with our partners in member countries, as well as the international players in making transactions happen during these critical situation in the region as well as in the world.”

The Board of Governors also approved the 10-year strategic plan of the Corporation as part of the 10 year IDB Group strategic framework, and selected the external financial auditors for 1437H (2016).