ICIEC and QDB Join Forces in a Landmark Alliance to Boost Trade and Investment (Re)Takaful Solutions

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and esteemed member of the Islamic Development Bank (IsDB) Group, is pleased to announce the signing of a Memorandum of Understanding (MoU) with the Qatar Development Bank (QDB). The signing took place on the sidelines of the IsDB Group Annual Meeting 2024 at in Riyadh, Saudi Arabia. The MoU was signed by Mr. Oussama Kaissi, CEO of ICIEC, and Mr. Abdulrahman Hesham Alsowaidi, CEO, QDB.

This landmark collaboration is set to provide a comprehensive range of services, including Takaful insurance, ReTakaful re-insurance, and co-insurance for short-term, medium-term, and long-term facilities. This strategic alliance also encompasses technical support in key areas such as business development, insurance underwriting, policy drafting, claims, and recovery, paving the way for a new era of economic cooperation and growth.

Mr. Oussama Kaissi, CEO of ICIEC, remarked, "This MoU is a milestone for both organizations as we work together to mitigate risks and enhance the business ecosystem for our clients. Our joint endeavors will undoubtedly pave the way for more robust economic cooperation and development between Qatar and ICIEC Member States."

This partnership marks a pivotal moment for both institutions as they seek to leverage their expertise and resources to foster economic growth and stability in the region. The collaboration between ICIEC and QDB is expected to have a positive impact on the business landscape of both entities, ultimately contributing to greater economic diversification and prosperity.