The Republic of Suriname has become the 45^th country to join the membership of The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), further extending the Corporation’s global footprint. Other member countries from the Organization of Islamic Cooperation (OIC) are also in the process of completing their ICIEC membership applications.

Suriname is one of the smallest countries in South America, yet its population is one of the most ethnically diverse in the region. Its economy is dependent on natural resources, notably bauxite, of which it is one of the world’s top producers. Aside from natural resources, other key sources of income include agriculture and remittances, mainly from the Netherlands, French Guiana and the USA. The southern part of the country consists of tropical rainforest and sparsely inhabited savanna along the border with Brazil, which covers about 80% of Suriname’s land surface.

Commenting on Suriname’s membership, Oussama Kaissi, the Chief Executive Officer of ICIEC, said: “I would like to welcome and thank the Republic of Suriname for joining the membership of ICIEC. Its membership opens the door for its private and public sectors to benefit from the risk mitigation services offered by ICIEC. Similarly, it allows exporters, banks and investors from other member countries to cover risks related to their operations in Suriname. ICIEC would like to take this opportunity to invite exporters, banks and investors in all countries, including those in Suriname, to benefit from the services it offers for the management of commercial and political risk.”