BANK OF AFRICA BMCE Group and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group signed on January 25^th, 2021 a Memorandum of Understanding (MoU) to support trade and Investment in member countries.

This Memorandum of Understanding was signed by: Mr. Brahim BENJELLOUN TOUIMI, Administrator Managing Director of BANK OF AFRICA BMCE Group, and Mr. Mohammed AGOUMI, Managing Director, in charge of International Division of BANK OF AFRICA BMCE Group and Mr. Oussama KAISSI, Chief Executive Officer of ICIEC.

In the pursuit of BANK OF AFRICA’s pan-african vision and ICIEC’s mission as a Multilateral Institution to facilitate trade and investments between member countries and the world, the two parties have decided to join their efforts, through this agreement, to extend collaboration in facilitating trade transactions and financing sustainable and social infrastructure projects throughout Africa.  Moreover, this agreement offers a solid base of collaboration in the private and public sector related projects, to consolidate the Moroccan based bank’s positioning as a key player of trade and investment in AFRICA. 

The CEO of ICIEC, Mr. Oussama KAISSI states “This partnership comes at a time where the relationship between both institutions started to expand after concluding interesting deals in different western African countries where BANK OF AFRICA BMCE Group has a strong footprint. Morocco is one of the Corporation’s valued member countries, and ICIEC has been working jointly with the BANK OF AFRICA BMCE Group to support strategic trade transactions and infrastructure projects, helping to support our member countries in response to COVID-19. This Memorandum of Understanding between the two institutions serves to strengthen this partnership and highlights the focus both organizations have on expanding the level of cooperation targeting the joint member countries”.

Mr. Brahim BENJELLOUN TOUIMI, Administrator Managing Director of BANK OF AFRICA BMCE Group said “the sealing of this partnership underlines the strategy of BANK OF AFRICA BMCE Group, under the aegis of Chairman Othman BENJELLOUN, to play an increasing role in Africa by facilitating trade transactions and providing sustainable financing to its customers. This partnership with ICIEC will enhance the capacity of the Group to consolidate its leading position. Compelling deals have already been finalized with the support of ICIEC and more are to come through mutual innovation”

“With this Memorandum of Understanding and thanks to its new openings in Dubai and Shanghai, BANK OF AFRICA BMCE Group will benefit from the experience of ICIEC, to enlarge  its customer base  in the Gulf and Southeast Asia regions by facilitating trade flows and enhancing mutual investments”, added Mr Mohammed AGOUMI, Managing Director in Charge of the International Division.    

About ICIEC

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development Bank (IsDB) Group. ICIEC was established in 1994 to strengthen the economic relations between member countries of the OIC. ICIEC’s vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. Its mission is to facilitate trade and investment between member countries and the world through the provision of Shariah compliant risk mitigation tools and financial solutions

About BANK OF AFRICA BMCE Group

BANK OF AFRICA BMCE Group is one of Africa’s main Pan-African financial groups operating in 31 countries in Africa, Europe, Asia and North America with an extensive portfolio of brands and subsidiaries, its universal banking business model has seen it diversify into a variety of business lines including commercial banking, investment banking as well as specialised financial services such as leasing, factoring and consumer credit. The Group employs more than 15,200 staff around the world and has more than 1,800 points of sale, serving just fewer than 6.6 million customers.