Supporting Trade and Investment in Africa
ICIEC and NEXIM Sign Agreements to support exports in Nigeria
Jeddah, KSA – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), member of Islamic Development Bank Group and Nigerian Export – Import Bank (NEXIM), signed a cooperation framework agreement and a local agency agreement today, Wednesday, January 30th, 2013 at ICIEC headquarter. The agreement was signed by Dr. Abdel Rahman El-Tayeb Taha, the Chief Executive Officer of ICIEC and Mr Bashir M. Wali the Executive Director of NEXIM.
The agreements which take the immediate effect aim to promote the Federal Republic of Nigeria’s exports by providing credit insurance and reinsurance support to NEXIM help enlarge the scope Nigeria’s exports.
Commenting on the agreement, Dr. Taha the CEO of ICIEC said, “the signing of these agreements come within the framework of ICIEC’s mandate to support the development of its Member Countries by providing export credit and political risk insurance to investment projects” He added “I am confident that singing these agreements with NEXIM will greatly enhance both parties’ ability to support Nigeria’s exports worldwide” and that he looks forward to a speedy implementation of these agreements starting with the training of NEXIM insurance underwriters to be followed by joint promotion activities in the Nigeria market.
Mr Bashir M. Wali the Executive Director of NEXIM said “The signing of the Agreement which is a milestone achievement on the path of promoting the export of Nigeria’s goods and services in the target sectors of manufacturing, Agro Allied, solid minerals, and services. It will further enhance the capacity of the Bank to provide credit insurance and guarantee services to the Nigerian export community going forward.