ICIEC Leads Groundbreaking Effort to Launch Africa-Arab Guarantee Fund.

Riyadh: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer and a member of the Islamic Development Bank Group, issued a press release saying that it has entered into a Service Agreement with the Islamic International Trade Finance Corporation (ITFC) as well as Jef Vincent and actoRx GmbH to create a three-year business plan for the proposed Africa-Arab Guarantee Fund. This collaboration is designed to strengthen trade and investment ties between the Arab and African regions, fostering economic integration and mutual growth. According to Saudi Press Agency, the agreement was finalized virtually in the last week of November. Mourad Mizouri, AMAN Union Project Manager and speaker at the Fourth Session of the 14th AMAN Union Annual General Meeting, announced the agreement during a discussion focused on unlocking trade opportunities between Arab and African regions, underscoring its strategic importance. As the Coordinator of the Arab-Afric a Guarantee Fund, ICIEC is joining forces with ITFC, which represents the Secretariat of the Arab-Africa Trade Bridges (AATB) Program. Together with Jef Vincent and actoRx GmbH, ICIEC aims to provide a clear roadmap for the establishment and operationalization of the Fund. The initiative will include comprehensive market analysis, consultations with stakeholders, and strategic recommendations to ensure that the Fund operates efficiently and sustainably. The Africa-Arab Guarantee Fund is positioned as a transformative initiative under the AATB Program, designed to bridge critical gaps in trade and investment facilitation between the two regions. By delivering innovative guarantee solutions, the Fund is expected to empower businesses and investors, thereby substantially expanding economic opportunities across Arab and African nations. Officer-in-Charge of ICIEC Dr. Khalid Khalafalla said: 'This agreement underscores ICIEC's commitment to facilitating sustainable economic growth and fostering stronger trade an d investment linkages between Arab and African countries. The Africa-Arab Guarantee Fund has the potential to transform trade and investment landscapes in both regions, and this collaboration is a crucial step toward realizing its full potential.'