IslamicFinance.de

Turkey's Aegean province of Izmir will host an Islamic Development Bank Group (IDB) event between 26-27 April. The announcement was made by Turk Eximbank CEO Adnan Yildirim, who said that Turkey aims to boost trade relations with the IDB's 57 member countries. He added that Turk Eximbank wants to raise Islamic countries' 10% share of world trade to 20%. Turkey's current trade with IDB member countries is around $45 billion and the bank hopes to raise it to $100 billion within 10 years. Turk Eximbank aims to double its support to companies in IDB member countries. The lender ranks second globally after South Korea's Eximbank in terms of financing exports.

One of the important issues to appear from the second annual meeting of the Aman Union is the increased request for political risk insurance especially insuring risks in post-conflict countries and those undergoing economic and political transformation. The meeting was held in Istanbul under the aegis of the Turk Eximbank.
Turk Eximbank signed a Memorandum of Understanding (MoU) with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). Abdel Rahman El-Tayeb Taha, the chief executive officer of ICIEC, and Hayrettin Kaplan, the general manager of Turk Eximbank were the one that signed the MoU.
The two companies have the purpose to help Turkish investors and contractors doing business in the member countries of the Organization of Islamic Cooperation's (OIC). ICIEC, specifically aims to supply political risk insurance (PRI) to Turkish companies doing business in ICIEC member countries.