The Islamic Development Bank Group (IsDB Group) Private Sector Entities namely the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC) in collaboration with IsDB Group Business Forum (THIQAH) and Annual Investment Meeting (AIM) organized a Trade & Investment event at the Egyptian Pavilion, Expo 2020 in Dubai – UAE on January 11th, 2022 under the theme: “Strengthening Trade and Investment in OIC Member countries”.
The event drew from the IsDB Group’s efforts to eradicate poverty through its initiatives and inclusion in the fight against COVID-19 to discuss the opportunities in promoting trade and investment in its member countries during times of unstable economic conditions. The private sector entities (ICIEC, ICD and ITFC) seek to ensure the continuous economic growth of its member countries and aims at improving the lives of the communities it serves.
The panel session, held during the event, consisted of expert speakers from the IsDB Group private sector entities and attracted business people at the Dubai Expo 2020. The experts shed light on the role of the IsDB Group in supporting OIC member countries’ trade and investment processes especially in volatile markets and unstable economic ecosystems. They also shared related experiences, best practices and success stories based on their respective entity’s specializations, as well as, explored together the investment and trade opportunities.
ICIEC highlighted its role in boosting the trade and investment opportunities for OIC member countries as it plays a pivotal role in deploying risk management tools to mitigate the adverse impacts of economic shocks emanating from various sources including pandemics. The ICD, also stressed its role in building a resilient and competitive private sector thus greatly contributing to the economic stability of the OIC member countries. Furthermore, ITFC emphasised its instrumental role in introducing the OIC member countries to international financial markets by providing integrated trade solutions towards shifting the industry to the acceptance of a wide array of innovative solutions.
About Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
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. Over 27 years, ICIEC has insured in trade and investment more than USD78 billion. USD 62.3 billion represents support for exports and imports, while USD 15.6 billion covered foreign direct investments into ICIEC’s member countries. ICIEC is Rated Aa3 by Moody’s. ICIEC’s cover has been provided to its 48 member countries across the Muslim world, assisting in their economic prosperity, development and diversification. ICIEC is recognized as the preferred enabler of trade and investment for boosting sustainable economic development in Member Countries, facilitating trade and investment between member countries and the world through Shariah-compliant risk mitigation solutions and tools. iciec.isdb.org
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