The MoU establishes a collaborative framework to promote cross-border trade and investment by combining ICIEC’s expertise in credit and political risk insurance solutions with BoH’s banking capabilities and client network.

Under the MoU, the two institutions will work together to identify and develop business opportunities, support trade finance transactions, and offer Shariah-compliant appropriate risk mitigation solutions to public and private sector entities meeting ICIEC’s eligibility criteria.

Commenting on the signing, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “Our partnership with Bank of Huzhou reflects ICIEC’s commitment to building strong alliances with financial institutions that can help expand trade and investment in between China and our Member States. By bringing together BoH’s banking capabilities and ICIEC’s Shariah-compliant suite of risk mitigation solutions, we aim to support businesses in accessing new markets, mobilising finance, and pursuing opportunities with greater confidence.” He added: “This MoU provides a practical platform to advance cross-border cooperation, strengthen financial connectivity, and contribute to sustainable development across member markets.”

Through this non-exclusive partnership, ICIEC and BoH will focus on jointly marketing and sourcing opportunities, providing advisory support, and facilitating financing backed by ICIEC’s insurance solutions for BoH’s corporate clients. The MoU also provides scope to explore innovative initiatives including potential InsurTech-enabled platforms, to expand access to trade and investment opportunities, enhance service delivery, and strengthen economic linkages between China, other major markets and ICIEC Member States in support of sustainable development in line with ICIEC’s eligibility criteria.

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Held at the Baku Convention Center, the session brought together senior representatives from Azerbaijani public- and private-sector stakeholders, export credit agencies, multilateral development banks, commercial banks, insurers, investors, government entities, State-Owned Enterprises, and business leaders.

The discussion focused on how risk mitigation can unlock private capital, strengthen investor confidence, and support regional integration across Azerbaijan, ICIEC Member States, and the broader OIC region, in alignment with the Annual Meetings theme, “Regional Integration for Sustainable Prosperity”. Convened in Baku, the session explored how political risk insurance, trade credit insurance, and credit enhancement solutions can help transform opportunities in infrastructure, energy, logistics, ICT, manufacturing, and trade into bankable projects, while supporting Azerbaijan’s expanding role as a regional gateway for investment, connectivity, export-oriented growth, and wider OIC market integration.

The event featured keynote remarks by Mr. Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO), who highlighted Azerbaijan’s growing role as a regional hub for trade, investment, and connectivity.

The panel featured Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC; Mr. Yuichiro Akita, President of the Berne Union; Mr. Sujithav Sarangi, Executive Director, Development and Agency Finance Team, Standard Chartered; and Mr. John Lentaigne, Global Head of Structured Credit and Political Risks, Specialist Risk Group. The discussion was moderated by Mr. Elnur Aliyev, Advisor to the Chairman, KOBIA Azerbaijan.

Speaking during the session, Dr. Khalid Khalafalla said: “Regional prosperity can only deliver its full development impact when trade and investment opportunities are supported by confidence, bankability, and effective risk mitigants. ICIEC’s Shariah-compliant solutions help governments, financial institutions, and investors move from ambition to implementation and execution. Through strong partnerships with public and private sector institutions, ICIEC is helping mobilise capital for strategic sectors, reduce perceived and actual risks, and support sustainable growth across Member States and beyond.“

The discussion underscored that Regional Prosperity requires more than connectivity and project pipelines. It requires a coordinated ecosystem in which governments, financial institutions, insurers, investors, and development partners work together to manage risk, mobilise finance, and deliver tangible development outcomes. The session reinforced ICIEC’s role as a catalyst for trade, investment, and sustainable development through Shariah-compliant risk mitigation solutions, partnership-building, and support for investment-ready projects across Member States.

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This landmark collaboration represents a significant milestone in strengthening strategic synergy within the IsDB Group by combining ICD’s syndication, structuring, and private sector financing capabilities with ICIEC’s credit risk mitigation solutions. Together, the two institutions are expanding the availability of Shariah-compliant financing, mobilizing private capital, expanding trade, and supporting sustainable private sector investment across member countries.

Under this pioneering syndication arrangement, ICD successfully led a USD 60 million Shariah-compliant Syndicated Financing Facility for Joint Stock Company “Asakabank” (“Asakabank”) in Uzbekistan, with an accordion feature to increase the facility size, while ICIEC provided USD 30 million in Credit Risk Insurance coverage in favour of a Kuwaiti bank against the risk of default by the obligor within the framework of the ICD’s Syndicated Financing Facility.

Boubyan Bank participated as the sole Kuwaiti financial institution in the syndication, demonstrating its continued commitment to innovative Shariah-compliant financing structures and regional private sector development. Its participation highlights the growing appetite among Islamic financial institutions for structured syndication opportunities supported by robust risk mitigation solutions.

By combining ICD’s expertise in structuring and mobilizing Shariah-compliant syndicated financing facilities with ICIEC’s credit risk mitigation expertise, the transaction demonstrates how integrated IsDB Group solutions can catalyze greater participation from regional and international financial institutions. The collaboration not only expands financing capacity but also strengthens confidence in Islamic syndicated financing as a scalable instrument for supporting private sector growth. It also supports the broader objective of enabling businesses to access the financing needed to grow, create jobs, strengthen value chains, and contribute to economic resilience.

Commenting on the milestone, Dr. Khalid Khalafalla, CEO of ICIEC and Acting CEO of ICD, said: “This first joint syndication transaction between ICIEC and ICD reflects the strength of collaboration within the IsDB Group and our shared commitment to delivering integrated, Shariah-compliant solutions that respond to the financing needs of member countries. By bringing together ICD’s mandate to support private sector development and ICIEC’s expertise in credit risk insurance, we are helping to unlock financing, strengthen confidence among financial institutions, and channel capital towards businesses and projects that contribute to job creation, economic diversification, and sustainable growth. This transaction sets an important precedent for future cooperation between our institutions and reinforces our collective role in delivering tangible development impact across our member countries.”

The transaction also reflects ICIEC’s and ICD’s shared commitment to expanding access to finance, strengthening Islamic finance solutions, and supporting transactions that contribute to economic growth, resilience, and development impact.

As part of the IsDB Group, ICIEC and ICD will continue to deepen collaboration in developing innovative Islamic financing structures, expanding syndication platforms, and mobilizing regional and international capital to support private sector development, trade, infrastructure, and sustainable economic growth across member countries.

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Under these insurance policies, ICIEC will provide insurance cover for eligible trade finance transactions extended by NBB to entities located in ICIEC Member States and support the confirmation of letters of credit issued by banks in ICIEC Member States, helping facilitate cross-border trade while mitigating payment risks.

The partnership underscores ICIEC and NBB’s shared commitment to expanding trade finance, strengthening cross-border trade flows, and deepening economic cooperation among Member States. Through the provision of risk mitigation solutions, the agreement enhances confidence in international trade transactions, supports increased private sector engagement, and facilitates the efficient movement of essential goods and services across strategic markets.

Commenting on the agreement, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “Resilient trade ecosystems require strong financial institutions, trusted partnerships, and effective risk mitigation. These insurance policies with the National Bank of Bahrain bring these elements together, enabling greater confidence in cross-border transactions and expanding trade opportunities across ICIEC Member States. We are pleased to join forces with NBB in supporting businesses and facilitating the flow of trade that contributes to sustainable economic development.”

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The session will bring together government officials, financial institutions, export credit agencies, investors, and development partners to discuss how risk mitigation solutions can mobilize private capital, strengthen regional integration, and support sustainable growth across Azerbaijan and the wider OIC region.

With Azerbaijan’s strategic location between Europe and Asia, and its growing role in connectivity, logistics, renewable energy, infrastructure, and non-oil economic diversification, the HLPD will highlight practical opportunities for de-risked investment and cross-border cooperation. The discussion will also showcase how ICIEC’s Shariah-compliant political risk insurance and credit enhancement solutions can help address investment barriers, enhance investor confidence, and unlock financing for priority development projects.

ICIEC’s CEO, Dr. Khalid Khalafalla, stated, “This high-level panel discussion is an important platform to advance dialogue and partnerships around regional integration. Through its risk mitigation solutions, ICIEC helps turn investment opportunities into bankable projects that support trade, investment, and sustainable development across Member States.”

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NEW DELHI: Anant Goenka, President, FICCI, said,

“We thank Prime Minister Narendra Modi and President Donald Trump for the trade deal that marks a significant reset in India–US economic ties. The reduction of reciprocal tariffs on Indian goods to 18 per cent — following months of negotiation by the Commerce and Industry Minister and his team — will materially improve the competitiveness of Indian exports in the world’s largest import market. With sectors such as apparel, leather, gems and jewellery, and marine products poised to benefit, this agreement has the potential to strengthen business confidence and deepen bilateral economic engagement. If implemented effectively, it can provide a meaningful boost to India’s export growth trajectory, broaden market access, and underscore the strategic importance of sustained cooperation between two of the world’s largest democracies.”

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MUMBAI: World Trade Center Mumbai warmly welcomes the landmark conclusion of the long-awaited India–European Union Free Trade Agreement (FTA) announced at the 16th India–EU Summit. The agreement, hailed by leaders on both sides as the “mother of all deals”, marks the conclusion of nearly two decades of negotiations and establishes one of the world’s largest trade partnerships, connecting markets of nearly two billion people and representing close to one-quarter of global GDP and one-third of global trade.

In his reaction to the announcement, Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries (AlAI), stated, “The finalisation of India-EU trade negotiations marked a historical movement in the global markets. This agreement between India and the European Union has the potential to reshape global trade flows, strengthen supply chains, and unlock greater opportunities for MSMEs, start-ups, and large enterprises on both sides.”

Dr. Kalantri further said, “With over 99% of Indian exports set to gain preferential access to the European Union market, this will unlock significant growth opportunities. Sectors that create ample job opportunities, like textiles, leather, marine products, wines, gems, and jewellery, will also get a boost. This agreement is a win-win as Indian consumers will get quality European products at lower prices and exporters will be able to enter the European markets”.

“In addition, the maritime partnership will deepen cooperation in maritime security, resilient supply chains, sustainability, and digital trade, thereby strengthening the overall economic engagement between India and the European Union. This will secure our maritime borders from common threats, reduce the cost of logistics, making cargo movement cheaper and environmentally friendly,” stressed Dr. Kalantri.

 “India’s large trade capacity, demographic dividend, manufacturing scale, and digital innovation, combined with Europe’s price-insensitive markets, technological leadership, sustainability frameworks, and advanced manufacturing strengths, create a significant advantage for both economies. This deeper India–EU engagement, especially amid geopolitical uncertainties, sends a strong signal in favour of rules-based trade, strategic diversification, and sustainable growth, while setting global benchmarks in green trade, digital transformation, and inclusive development.”

“With India aspiring to become a USD 30 trillion economy by 2047 and the European Union seeking deeper engagement with the Indo-Pacific, this agreement will serve as a cornerstone of a new global trade architecture, one that is resilient, sustainable, and future-ready,” Dr. Kalantri said.

Prime Minister Narendra Modi described the pact as the biggest free trade agreement in India’s history, underscoring its potential to deepen economic ties. European Commission President H.E. Ms. Ursula von der Leyen and European Council President H.E. Mr. António Luís Santos da Costa also welcomed the breakthrough, signalling strengthened strategic engagement between India and the EU.

WTC Mumbai looks forward to the outcomes of the India-EU Summit and remains committed to supporting initiatives that strengthen bilateral trade, investment, and economic cooperation between India and Europe.

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Recognizing the unique demands of the Maharashtra market, Walkaroo has launched products across multiple categories:

• Walkaroo+ and Walkaroo++ Urbanoz Range: Featuring ergonomic footbeds and arch support, designed for unmatched comfort and style.
• Walkaroo Flip-Flopz: Lightweight and trendy EVA and Hawai footwear, crafted to appeal to young customers.
• Walkaroo Sportz: New range of shoes with advanced features, designed for active lifestyles.

V. Noushad, MD of Walkaroo said “We aim to become the most preferred brand in Maharashtra by catering to not just the functional needs of our customers but also their fashion aspirations, all while ensuring comfort”

Walkaroo reaches customers of Maharashtra through the network of over 10000  Retailers.  Walkaroo’s extensive range and innovative initiatives are a testament to its mission of delivering high-quality, fashionable, and comfortable footwear to its customers while staying ahead in the industry.

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“We suggest that all the traders who have paid, collected, and deposited GST and all other taxes should be accumulated and 10% of the entire taxes deposited be given to traders as a pension so that he can lead his old age comfortably. The government should consider starting the Ladke Vyapari scheme for the traders in the form of pension at the rate of 10% of the tax collected“, said Fatechand Ranka.

“Secondly, about the penal charges for name boards and hoardings. The PMC has increased the charges for the name boards and hoardings from Rs.111/- to Rs.580/- per square foot, which is excessive without any reason to increase the same. So, we suggest that the renewal of hoardings/display boards/names boards be done @ Rs.222/- per square foot“, said Mahendra Pitaliya.

Suryakant Pathak highlighted the GST-related issue and said, “Many times certain traders neither file the GST returns nor do they pay the GST collected from the earlier traders. This creates a problem for the trader who has already paid the GST as he does not get the set-off. The problem also arises when a trader files GST returns after the given deadline. Despite repetitive requests, no action has been taken against such traders so far. So, we suggest that the government take the step to abolish the troublesome provisions in the GST.”

The post The Federation of Trade Associations of Pune Calls for the ‘Ladke Vyapari’ Scheme appeared first on NRI News.

This strategic MoU aims to establish a solid collaboration between ICIEC and JBIC by leveraging ICIEC’s insurance services and JBIC’s financial facilities. The partnership will facilitate transactions involving Japanese companies as exporters, EPC contractors, or investors in projects that promote the development of ICIEC’s member states, with a particular focus on Central Asia.

The collaboration is set to significantly boost trade and investment between ICIEC member states and Japan, including initiatives focused on climate action projects such as renewable energy generation.

Dr. Khalid Khalafalla, Officer-in-Charge of ICIEC said “An MoU existed between the IsDB Group and JBIC since 2016. However, the one ICIEC signed with JBIC is linked to the existing Group-level one.  He added that “this MOU formalizes and strengthens the longstanding partnership between ICIEC and JBIC and aligns with our shared vision of promoting sustainable economic development in ICIEC member states. By leveraging our respective expertise and resources, we can enhance trade and investment opportunities for the mutual benefit of our stakeholders”. This agreement marks a significant milestone in ICIEC’s ongoing efforts to foster economic growth and development in its member countries through strategic international partnerships.”

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