ALGIERS, Algeria, May 20. The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has inked a Memorandum of Understanding (MoU) with Credendo on the sidelines of the IsDB Group Annual Meetings 2025 in Algiers, Trend’s special correspondent reports.
The MoU establishes a framework to enhance cooperation in credit insurance and reinsurance by developing new risk‑sharing schemes that enable larger trade transactions for multinational corporations operating in ICIEC Member States.
It also seeks to reinforce joint underwriting capacity, introduce shared retention models, and formalise coordination through a Joint Working Group, while safeguarding confidentiality and remaining non‑binding.