ICIEC signs Memorandum of Understanding with the Arab Contractors

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, today signed a memorandum of understanding (MoU) with the Arab Contractors (AC).

The MoU was signed by Mr. Oussama Kaissi, CEO of ICIEC, and Mr. Sayed Abd ElKhalek, Board Member of the AC, under the aegis of the IsDB Group Private Sector Forum themed ‘Partnerships to Fend Off Crises’ at the 30th Annual Meetings of ICIEC held in conjunction with the 48th Annual Meetings of the Board of Governors of the IsDB on 10-13 May 2023 at the Ritz-Carlton Hotel in Jeddah, Saudi Arabia. 

The MoU aims to provide a general framework to facilitate co-operation between ICIEC and the Arab Contractors in promoting green, resilient and sustainable infrastructure. It will also focus on  multi-modal transport, social infrastructure, urban development and water sanitation; agriculture and rural development as well as ICT and digitalization in Egypt and other ICIEC Member States.