Eng. Hani Salem Sonbol has been appointed acting CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), replacing Abdel Rahman El-Tayeb Taha.

Sonbol will continue his current duties as the deputy CEO of the International Islamic Trade Finance Corporation (ITFC), a role he has held since 2008.

Sonbol has worked for the Islamic Development Bank Group (IDB), of which the ICIEC is a member, since 1987, and has held senior roles including regional group director in Morocco, and director of the trade finance and promotion department.

A spokesperson confirmed to GTR that Sonbol will continue the duties of his predecessor, who retires after 20 years as CEO of the ICIEC. According to a statement by the corporation, Taha has been instrumental in the ICIEC’s evolution, becoming the first shariah-compliant global credit and political risk insurer.