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HomeBusinessICIEC and Saudi EXIM Bank Forge Stronger Ties for OIC Trade

ICIEC and Saudi EXIM Bank Forge Stronger Ties for OIC Trade

Enhancing Economic Cooperation within Islamic Nations

August 18, 2024
in Business
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The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is intensifying its collaborative efforts with the Saudi EXIM Bank to propel commerce within the member states of the Organization of Islamic Cooperation (OIC). This joint venture has been fruitful, leading to the discovery of new marketplaces, smoothing the way for more seamless interactions between Saudi enterprises and other OIC nations, unveiling fresh trading prospects, diminishing risks associated with exports, bolstering economic expansion, and fortifying trade links between Saudi Arabia and the rest of the OIC, all while contributing to the overall economic welfare of the region.

The ICIEC has acknowledged the significant influence this alliance with the Saudi EXIM Bank has had on the OIC’s economy, as well as solidifying Saudi Arabia’s stature as a pivotal trading power. For over thirty years, the ICIEC has been at the forefront of devising innovative insurance solutions aimed at fostering economic development and growth. As an integral entity within the Islamic Development Bank (IsDB), its dedication to nurturing social and economic advancement extends to financing pivotal infrastructure and societal development initiatives.

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Tags: economic growthexport credit insuranceICIECOIC TradeSaudi EXIM Bank
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