The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), has signed agreements with the Nigerian Export-Import Bank (Nexim), to promote Nigerian exports.
ICIEC will now provide credit insurance and reinsurance support to Nexim, helping Nigeria expand its export market. Implementation will start with the training of Nexim insurance underwriters, followed by joint promotion activities in the Nigeria market.
Abdel Rahman El-Tayeb Taha, CEO of ICIEC, says: “The signing of these agreements come within the framework of ICIEC’s mandate to support the development of its member countries by providing export credit and political risk insurance to investment projects. I am confident that signing these agreements with Nexim will greatly enhance both parties’ ability to support Nigeria’s exports worldwide.”
Nexim executive director Bashir M. Wali adds: “The signing of the agreement is a milestone achievement on the path of promoting the export of Nigeria’s goods and services in the target sectors of manufacturing, agro-allied, solid minerals, and services. It will further enhance the capacity of the bank to provide credit insurance and guarantee services to the Nigerian export community going forward.”