ICIEC & TCX Collaborate to Boost Local Currency Financing

In a significant step toward strengthening local currency financing solutions, The The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a multilateral credit and political risk insurer and a member of the IsDB Group and The Currency Exchange Fund N.V (TCX) ceremoniously inked a Memorandum of Understanding (MoU). This landmark alliance was solidified in the vibrant city of Marrakesh on the sidelines of the Annual Meetings of the World Bank Group and the IMF.
This strategic collaboration aims to provide alternative financing solutions in local currency to ICIEC Member States. It underscores both entities’ commitment to enhancing the economic landscape of these states by offering blended insurance and hedging structures to ICIEC policyholders consistent with Islamic principles.