CBI signs a memorandum of understanding with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)

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CBI signs a memorandum of understanding with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)

 

Today, Tuesday, the Central Bank of Iraq signed a memorandum of understanding with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to support economic and trade relations between member states of the Islamic Development Bank. This memorandum aims to enhance the activity of this institution in Iraq, especially in the banking sector. It is agreed to hold periodic meetings to exchange experiences and information and hold workshops and training courses for Iraqi banks to benefit from the products offered by this institution in the field of securing international trade financing tools. Should note that the missions of the Islamic Corporation for the Insurance of Investment and Export Credit are to promote commercial transactions between the member states of the Islamic Cooperation Council and facilitate the flow of foreign direct investments to those countries, to contribute to social and economic development. This institution also provides credit solutions, mitigates credit risks, and offers insurance and reinsurance products, which enhances credit under the provisions of Islamic Sharia.

 

Central Bank of Iraq

Media Office

8 Mar 2022