IslamicFinance.de

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Bangladesh Bank (The Central Bank of Bangladesh) signed a Memorandum of Understanding (MOU). The objective of the MOU is to establish a basis for the exchange of information between the two institutions on banking industry's condition and operating performance and ICIEC exposures on the banks operating in Bangladesh. It is expected that the MOU will help pave the way forward for ICIEC in meeting its objectives under the IDB Group Member Country Participation Strategy (MCPS) for Bangladesh, through enhance letter of credit coverage and support in terms of political risk insurance coverage of Foreign Direct Investment (FDI). The signing of the MoU should enhance ICIEC's ability to support exporting companies operating in Bangladesh, and also will help to attract more FDI.

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.