The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a leading Shariah-based multilateral insurer and esteemed member of the Islamic Development Bank (IsDB) Group, is proud to announce the signing of a Memorandum of Understanding (MoU) with the National Infrastructure Fund of Saudi Arabia (INFRA).
Industry sources added that this pivotal MoU was signed during the IsDB Group Annual Meeting 2024, which took place in Riyadh, Saudi Arabia, by ICIEC’s CEO, Mr. Oussama Kaissi, and Eng. Esmail Alsallom, CEO of INFRA.
Industry sources further affirmed that this MoU builds a framework for cooperation between ICIEC and INFRA. Key initiatives include the exploration of opportunities of mutual interest within the Kingdom in line with its developmental objectives, institutional cooperation, and knowledge exchange through a continuation of dialogue and participation in relevant events.
Industry sources further added that the parties will coordinate participation in field-related activities and foster affiliations with relevant entities or professional associations to strengthen collaborative ties. Through this partnership, ICIEC will aid INFRA’s efforts to fasten the strategic infrastructure projects in the Kingdom, contributing to the goals of Saudi Vision 2030.
Mr. Oussama Kaissi, the CEO of ICIEC, expressed his pleasure about the agreement, stating, “We are delighted to enter into this collaboration with INFRA. Our joint efforts will focus on strengthening the economic frameworks within our member states. This MoU sets the tone of our shared commitment to promoting sustainable development through enhanced understanding and cooperation in insurance solutions and infrastructure development in the Kingdom.”
