(MENAFN- Trend News Agency)
The Islamic Development Bank Group (IsDB Group) will host the
“Private Sector Forum” which will be organized by the private
sector institutions of the Islamic Development Bank Group in
cooperation with the Ministry of Planning and Economic Development
of Egypt, to be held on June 2-4, 2022, in Sharm El-Sheikh (Egypt)
on the sidelines of the IsDB Board of Governors Annual
Meetings.
The main objective of the Forum is to provide a unique platform
to network and establish business relations and partnerships with
other leading representatives and stakeholders from business
community in order to share their related experience, success
stories & best practices, while jointly exploring investment and
trade opportunities offered by member countries. The forum will
also highlight the IsDB Group activities, services and initiatives
in member countries including Egypt (investment, trade, and
insurance).
Also, to emphasis the role of IsDB Group in promoting PPP
projects and promote IsDB Group's services to the private sectors
interested to invest in Egypt. It will also connect business
communities in member countries by arranging parallel B2B and B2G
scheduled meetings.
The Forum will gather more than 2,500 participants from multiple
sectors across the globe such as government officials, Chairmen,
Presidents & CEOs of local and international companies,
multilateral and financial institutions, chambers of commerce &
industry, business associations, investment promotion agencies,
individual investors, entrepreneurs, hundreds of policies and
decision-makers, as well as their Excellencies the Governors of the
Islamic Development Bank and other participants from various
sectors from all over the world will attend and participate in the
forum.
The Forum will also witness high caliber of speakers who will
join and share their in-depth perspectives with the IsDB Group
Entities Chief Executive Officers: Mr. Oussama Kaissi, CEO of the
Islamic Corporation for the Insurance of Investment and Export
Credit (ICIEC); Mr. Ayman Sejiny, CEO of the Islamic Corporation
for the Development of the Private Sector (ICD) and Eng. Hani Salem
Sonbol, CEO of the International Islamic Trade Finance Corporation
(ITFC).
For more information, please visit the event's website:
The Islamic Development Bank is a multilateral development bank
that works to improve the lives of those it serves by promoting
social and economic development in Muslim countries and communities
around the world and making a difference at scale.
Through collaborative partnerships between communities in its 57
member countries, the Bank seeks to equip communities to drive
their own economic and social progress at scale, and put the
infrastructure in place to enable them to realize their
potential.
The Bank's new business model of“making markets work for
development” contributes to enhancing the competitiveness of our
member countries in strategic industries in order to improve
participation and upgrading in global value chains. This is in the
field of food and agricultural industries, textiles, clothing,
leather, shoes, petrochemicals and petroleum, construction, and
Islamic finance.
The Bank also promotes innovative and sustainable solutions to
the biggest development challenges in the world, and takes
advantage of the scientific potential in technology and innovation
as strategic drivers of economic growth, and we also work to
achieve the United Nations sustainable development goals.
ICIEC is a member of the Islamic Development Bank (IsDB) Group.
ICIEC was established in 1994 to strengthen the economic relations
between member countries of the OIC. Over 27 years, ICIEC has
insured in trade and investment more than USD78 billion. USD 62.3
billion represents support for exports and imports, while USD 15.6
billion covered foreign direct investments into ICIEC's member
countries. ICIEC is Rated Aa3 by Moody's. ICIEC's cover has been
provided to its 47 member countries across the Muslim world,
assisting in their economic prosperity, development and
diversification. ICIEC is recognized as the preferred enabler of
trade and investment for boosting sustainable economic development
in Member Countries, facilitating trade and investment between
member countries and the world through Shariah-compliant risk
mitigation solutions and tools.
The Islamic Corporation for the Development of the Private
Sector (ICD) is a multilateral organization affiliated with the
Islamic Development Bank (IsDB). Its authorized capital stands at
USD 4 billion, of which USD 2 billion is available for
subscription. Its shareholders consist of the IsDB, 55 member
countries and five public financial institutions. Headquartered in
Jeddah, ICD was established by the IsDB Board of Governors during
its 24th annual meeting held in Jeddah in Rajab 1420H (November
1999).
The mandate of ICD is to support the economic development of its
member countries by providing financial assistance to private
sector projects in accordance with the principles of Shari'ah,
aimed at creating employment opportunities and enhancing their
export potential. Furthermore, ICD has the mandate of mobilizing
additional resources for projects and encouraging the development
of Islamic finance. It also attracts co-financiers for its projects
and provides advice to governments and private sector groups on
policies aimed at encouraging the establishment, expansion and
modernization of private enterprises, the development of capital
markets, best management practices, and the enhancement of the role
of market economy. ICD's operations complement the activities of
IsDB in member countries and also those of national financial
institutions.
The International Islamic Trade Finance Corporation (ITFC) is a
member of the Islamic Development Bank (IsDB) Group. It was
established with the primary objective of advancing trade among OIC
member countries, which would ultimately contribute to the
overarching goal of improving socioeconomic conditions of the
people across the world. Commencing operations in January 2008,
ITFC has provided more than US$55 billion of financing to OIC
member countries, making it the leading provider of trade solutions
for these member countries' needs. With a mission to become a
catalyst for trade development for OIC member countries and beyond,
the Corporation helps entities in member countries gain better
access to trade finance and provides them with the necessary
trade-related capacity building tools, which would enable them to
successfully compete in the global market.
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