The Islamic Company for the Insurance coverage of Funding and Export Credit score (ICIEC) (http://ICIEC.IsDB.org) has signed a Memorandum of Understanding (MoU) with the Federation of Afro-Asian Insurers and Reinsurers (FAIR) to foster higher cooperation to encourage enterprise collaboration amongst their members.
Beneath the MoU, there will probably be higher cooperation between FAIR and ICIEC on sharing insurance coverage and reinsurance data, regulatory tips, rising insurance coverage wants, and market gaps, ICIEC’s added worth in danger mitigation, and credit score enhancement for the advantages of widespread international locations of protection/operations.
The MoU was signed by Oussama A. Kaissi, CEO of ICIEC, and Mo’males Mukhtar, the Secretary-Basic of FAIR.
Oussama Kaissi, CEO of ICIEC, stated the MoU will assist garner a extra holistic method to enterprise collaboration for each events. He added: “This framework is a landmark settlement as a result of it would promote higher cooperation between members of FAIR and ICIEC, together with fostering elevated technical help, coaching and capability constructing.”
Distributed by APO Group on behalf of Islamic Company for the Insurance coverage of Funding and Export Credit score (ICIEC).
Rania Binhimd, Communications Planner
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The Islamic Company for the Insurance coverage of Funding and Export Credit score (ICIEC) is the insurance coverage arm of the Islamic Growth Financial institution (IsDB) Group. The Company is uniquely the most important Shariah-compliant multilateral insurer on this planet and has led from the entrance in offering a complete suite of insurance coverage options to corporations and events in its 48 Member States. ICIEC was established in 1994 with the mandate to strengthen financial relations between OIC member international locations and to advertise intra-OIC commerce and investments by offering Shariah-compliant danger mitigation instruments and monetary options. ICIEC has for the 14th consecutive yr earned an “Aa3” insurance coverage monetary energy credit standing from Moody’s, rating the Company among the many high of the Credit score and Political Danger Insurance coverage (CPRI) Business. ICIEC’s resilience is underpinned by its sound underwriting, reinsurance, and danger administration insurance policies. Cumulatively, ICIEC has insured greater than US$ 83bn in commerce and funding and US$2.2 bn in help of FDI at finish of 2021. Its actions had been directed to particular sectors together with banking, vitality, manufacturing, infrastructure, healthcare, and agriculture. For extra data, go to: http://ICIEC.IsDB.org
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