Riyadh: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group, and the African Export-Import Bank (Afreximbank) signed a memorandum of understanding (MoU) to strengthen their cooperation in boosting trade and investment flows between Arab and African countries: The partnership establishes a solid framework for cooperation, enabling both parties to coordinate their efforts in supporting Arab and African companies seeking to tap regional market opportunities, while facilitating the exchange of practical information in areas where trade and investment data are difficult to access.

According to Saudi Press Agency, through this cooperation, the ICIEC and Afreximbank will align their strategic decision-support tools and deepen synergies to better serve public- and private-sector stakeholders across their networks.