ICIEC Launches Book Highlighting SuccessfulDevelopment Partnership with Senegal

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JEDDAH, KINGDOM OF SAUDI ARABIA: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group and a leading Shariah-compliant multilateral insurer, is set to launch a special book titled, “Senegal and ICIEC – Empowering Real Economy, Driving Development Impact,” offering a unique insight into the successful collaboration between ICIEC and Senegal. The launch of the Book will take place on the 7th of July 2023 on the sidelines of the “Invest in Senegal Forum“, scheduled to take place during the period of 6-8 July 2023 in Diamniadio, Dakar.

The launch ceremony will be inaugurated by H.E. Mme Oulimata Sarr, Minister of Economy, Planning and Cooperation of Senegal and IsDB/ICIEC Governor, and Mr. Oussama Kaissi, CEO of ICIEC  along with other high-level dignitaries and ICIEC partners.

The publication highlights the outlook for the Senegalese economy, the potential role of Islamic finance and Sukuk in the nation’s economic landscape, the challenges ahead, and various case studies showcasing the positive impact of ICIEC operations across different economic sectors.

Over the past several years, ICIEC has supported numerous landmark transactions and projects in Senegal with an investment totaling US$3.6 billion through risk mitigation and credit enhancement solutions. Notable projects include Blaise Diagne International Airport (AIBD SA), Stade du Sénégal (Abdoulaye Wade Stadium), Dakar Expo Center, the Market of National Interest, Hann-Fann Wastewater Collector, and the Dakar Truck Station.

Senegal has been a member of ICIEC since 19 September 1995, and since then, there has been a deep and mutual partnership supporting the nation’s development goals through th use of ICIEC’s risk mitigation products and services.

In conjunction with the launch, the CEO of ICIEC will conduct site visits to some notable projects supported by ICIEC in Diamniadio and Dakar to showcase the organization’s achievements, positive impact, and successful partnerships.

ICIEC CEO, Mr. Oussama Kaissi, said,  “We are proud of the vital role that ICIEC plays in facilitating financial and insurance solutions that support sustainable and inclusive economic growth in Senegal. The launch of this booklet not only demonstrates our commitment to Senegal’s development but also highlights the significant impact our partnership has had so far. We eagerly anticipate further collaboration and innovation with Senegal to meet both the nation’s development goals and market needs.

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