ICIEC Boosts Maldives Trade with Insurance Solutions

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IsDBI), today launched several initiatives to support and facilitate trade in the Republic of the Maldives. It is utilizing its insurance and financing solutions, including insurance tools and risk mitigation measures worth $130 million for the purchase of strategic commodities and pound 50 million for the Gulhifalhu land reclamation project in the Maldives. ICIEC clarified that it has provided insurance coverage worth $299 million to the Maldives to drive sustainable growth in the tourism, housing, clean energy, and transportation sectors. The corporation emphasized that these initiatives highlight its commitment to driving economic growth in the Maldives. The ICIEC mission is to facilitate trade and investment between member countries of the IsDBI and the world by providing Shariah-compliant risk mitigation and insurance tools. Source: Saudi Press Agency