The Central Bank signs a memorandum of understanding with the Islamic Corporation for Investment and Exports

by **RamblerNash** Thu Mar 10, 2022 9:52 pm

Tuesday 08, March 2022 22:40

Baghdad / NINA /- The Central Bank of Iraq signed, today, Tuesday, a memorandum of understanding with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), in the framework of supporting economic and trade relations between member countries of the Islamic Development Bank.

The Central Bank stated in a statement: "This memorandum aims to enhance the activity of this institution in Iraq, especially in the banking sector," noting that "it was agreed to hold periodic meetings for the purpose of exchanging experiences and information and holding workshops and training courses for Iraqi banks for the purpose of benefiting from the products that provided by this institution in the field of securing international trade finance instruments.

He pointed out that "the tasks of the Islamic Corporation for the Insurance of Investment and Export Credit are to enhance commercial transactions between the member states of the Islamic Cooperation Council, and to facilitate the flow of foreign direct investments to those countries, with the aim of contributing to social and economic development."

And he indicated that "this institution also provides credit solutions, mitigate credit risks, and offers insurance and reinsurance products, which in turn enhance credit in accordance with the provisions of Islamic Sharia."/ Ended 9

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