JEDDAH, Kingdom of Saudi Arabia: 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, which will 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).
About Islamic Development Bank (IsDB):
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.
About Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
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.
About the Islamic Corporation for the Development of the Private Sector (ICD):
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.
About the International Trade Finance Corporation (ITFC):
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.
About the Islamic Development Bank Group Business Forum (THIQAH):
The Islamic Development Bank Group Business Forum (THIQAH) is the window of the IsDB Group that facilitate contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique platform for effective dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. Through facilitation and catalyst roles, THIQAH will be leveraging IsDB Group's resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group's financial products and services.
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