...

ICIEC invites CIS countries to membership

Business Materials 22 June 2010 20:09
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) invited the member-countries of the Organization of Islamic Conference (OIC), particularly the Muslim countries entering the CIS, to the ICIEC membership, Corporation CEO Rahman Taha said.

Azerbaijan, Baku, June 22 / Trend N.Ismayilova /

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) invited the member-countries of the Organization of Islamic Conference (OIC), particularly the Muslim countries entering the CIS, to the ICIEC membership, Corporation CEO Rahman Taha said.

"The ongoing financial crisis in the world economy has further enhanced the role of export credits to facilitate trade flows among countries. This is confirmed by the allocation of $250 billion by G20 countries to support trade and investment flows," Taha said.

The world financial crisis once again confirmed the need for special management and risk reduction in trade and investment, and therefore the role of the corporation is further enhanced.

The Corporation has set a goal to expand the strategy of the IDB group to support the expansion of trade cooperation and exports in the member-countries and in attracting direct foreign investment. "The corporation makes efforts to increase the volume of export trade and increase investment attracting in the member-countries for 15 years," Taha said.

To date, the corporation has allocated more than $5 billion to expand trade and investment in the member-countries.

The international rating agency Moody `s assigned Аа3 rating to the ICIEC. Today, it closely works with leading insurers of the world, which creates an opportunity for the corporation to reduce risk and enhance large-scale investment and financial projects.

Do you have any feedback? Contact our journalist at: [email protected]

Latest

Latest