The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, has partnered with the African Export‑Import Bank (Afreximbank) to enhance economic collaboration Arab Africa. The memorandum of understanding (MoU) was signed in Cairo, Egypt, on 27 October 2025 by Eng. Yasser Alaki, Director of the Business Development Department at ICIEC, and Mr. Kofi Asumadu Addo, Director of Guarantees and Specialised Finance at Afreximbank, representing the Bank’s Executive Vice President of Global Trade, Mr. Haytham ElMaayergi.
Promoting Trade Finance Collaboration
The MoU outlines several areas of cooperation, including risk-sharing mechanisms to support Afreximbank’s trade financing, structured information exchange to enhance institutional insights, and backing for Afreximbank’s digital platforms. Both partners will have access to TRADAR Club services, including TRADAR Intelligence (TIP) and TRADAR Regulations (TRIP).
Joint initiatives will also cover capacity-building, advisory services, collaborative marketing, product development, and deployment of the AfrexInsure program to strengthen risk mitigation and trade-finance tools.
Driving Economic Development Initiatives Across the Region
This strategic partnership establishes a solid framework for harmonized efforts, facilitating practical information exchange for Arab and African businesses exploring regional market opportunities. By aligning their strategic decision-support tools, ICIEC and Afreximbank aim to create synergies that benefit public- and private-sector actors across both networks.
Strategic Impact and Expert Insights
Mr. Haytham ElMaayergi, Executive Vice President of Global Trade Bank at Afreximbank, said, “This MoU demonstrates the long-standing collaboration between Afreximbank and ICIEC to deepen Arab-Africa trade. We anticipate meaningful outcomes in market development, risk-sharing, digital innovation, and capacity building. Our joint initiatives will further the strategic objectives of the Arab African Trade Bridge.”
Eng. Yasser Alaki of ICIEC added, “This partnership is a milestone for inclusive and sustainable trade and investment across the Arab-Africa corridor. By combining ICIEC’s risk-mitigation expertise with Afreximbank’s financing and advisory capabilities, we are helping businesses turn ambitions into actionable results. Together, we will unlock new opportunities and deliver strategic value to trade flows benefiting member countries and private-sector partners.”
This collaboration highlights a new phase in economic development initiatives that strengthen trade, investment, and financial cooperation between Arab and African nations.
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This story was first reported by APO Group. Read the full article here.
