RIYADH, KSA: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and a member of the Islamic Development Bank (IsDB) Group, is delighted to announce a significant insurance agreement with Deutsche Bank AG. This partnership was cemented with the signing of a Non-Honouring of a Sovereign Financial Obligation (NHFSO) insurance policy during the IsDB Group Annual Meeting 2024 in Riyadh. The signing was officiated by ICIEC CEO Mr. Oussama Kaissi and Mrs. Irina Dudkina, Head of Structuring at Deutsche Bank.
The NHFSO Insurance Policy facilitated a EUR 161.4 million financing arrangement by Deutsche Bank for the Government of the Republic of Côte d’Ivoire, represented by the Ministry of Economy and Finance. This strategic funding is earmarked for the construction of new general and regional hospitals in the cities of Kong and Odienne, significantly boosting the healthcare infrastructure in Côte d’Ivoire.
ICIEC CEO, Mr. Oussama Kaissi, remarked that “the partnership with Deutsche Bank represents a significant advancement in healthcare for Côte d’Ivoire. The strategic financing will facilitate essential infrastructure development and bolster the region’s healthcare resilience, exemplifying ICIEC’s commitment to fostering sustainable development through impactful collaborations”.
This initiative is part of ICIEC’s broader strategy to support vital social infrastructure projects across its member states, promoting sustainable development and enhancing the quality of life for communities through improved healthcare facilities.
, a Shariah-based multilateral insurer and a member of the Islamic Development Bank (IsDB) Group, is delighted to announce a significant insurance agreement with Deutsche Bank AG. This partnership was cemented with the signing of a Non-Honouring of a Sovereign Financial Obligation (NHFSO) insurance policy during the IsDB Group Annual Meeting 2024 in Riyadh.){kind=link}