Jeddah-headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a multilateral Shariah-based insurer and member of the Islamic Development Bank Group, and African Export Import Bank (Afreximbank) have signed a memorandum of understanding (MoU) to strengthen cooperation in promoting trade and investment flows across Arab and African countries. The MoU was signed in Cairo, where Afreximbank has its head office.
The partnership provides a robust framework for collaboration, enabling the parties to harmonise efforts in supporting Arab-African businesses seeking regional market opportunities while facilitating practical information exchange in areas where access to trade and investment intelligence has been limited, according to a joint statement signed by the two parties.
Through the cooperation, ICIEC and Afreximbank will align strategic decision-support tools, developing synergies to better serve public- and private-sector actors across their respective networks.
Areas of cooperation covered in the MoU, which was signed on 27 October 2025, include risk-sharing mechanisms, which will underpin Afreximbank’s efforts to mobilise financing in support of trade; a structured exchange of information to strengthen the outreach and insight of both institutions; support for Afreximbank’s digital platforms; and joint capacity-building and advisory services, among others.
“This partnership marks a milestone in our shared commitment to inclusive and sustainable trade and investment across the Arab-Africa corridor,” said Yasser Alaki, Director of the Business Development Department at ICIEC.
“By combining ICIEC’s risk-mitigation expertise with Afreximbank’s expansive financing and advisory platform, we are enabling businesses to move from ambition to action. Together, we will unlock new opportunities and deliver strategic value-add to trade flows that benefit our member countries and private-sector partners.”
Haytham ElMaayergi, EVP of Global Trade Bank at Afreximbank, added, “The MoU is expected to generate mutually beneficial and meaningful outcomes in areas such as market development, risk-sharing, digital innovation and capacity building. Both institutions look forward to advancing our joint initiatives, including the achievement of the strategic objectives of the Arab African Trade Bridge.”