2022 IsDB Group Annual Meetings to Convene in Sharm El-Sheikh from June 1- 4

 

2022 IsDB Group Annual Meetings to Convene in Sharm El-Sheikh  
1-4 June

 

Cairo, Egypt, 28^th of May 2022 - The Islamic Development Bank (IsDB) Group affiliated entities are to hold their 2022 Annual Meetings in Sharm El-Sheikh, Egypt, from 1-4 June 2022, under the theme of: “Beyond Recovery: Resilience and Sustainability.” These meetings come under the umbrella of “The 47^th Annual Meeting of the Board of Governors of the Islamic Development Bank”.

Mr. Ayman Amin Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector (ICD).

Mr. Oussama Abdul Rahman Kaissi, Chief Executive Officer of The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

Eng. Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC).

On the occasion, H.E. Dr. Hala El Said, Egypt's Minister of Planning and Economic Development and IsDB Governor for the country, has underlined the importance of the strategic partnership between the Arab Republic of Egypt and the IsDB Group and its entities in a way that all relevant stakeholders achieve development and economic growth.

She noted that IsDB’s Group’s private sector development arm -  the Islamic Corporation for the Development of the Private Sector (ICD) - plays a leading role in its mandate through direct financing operations, offering asset management, encouraging cross border investments, developing Islamic capital markets, and providing financial advisory services.

She also expressed her keenness to facilitate the cooperation between the Bank and the Sovereign Fund of Egypt with the aim of achieving the country's development goals, thus creating wealth for future generations.

Minister El Said pointed out that IsDB Group’s investment insurance arm -  the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) - plays an important role in supporting Egyptian investors and exporters. It amplifies the entity’s activities and services in Egypt while setting up a lasting mechanism for the promotion process, to attract incoming foreign investments and provide opportunities for Egyptian exports to enter foreign markets. ICIEC has so far provided relevant insurance coverage for US$7.35 billion worth of businesses in Egypt, including covering operations related to imports and exports, credit services on exports and securing foreign investments, making Egypt among the first ten countries that benefit from ICIEC’s insurance services.

H.E. Minister El Said also praised IsDB Group’s international trade finance arm – the International Islamic Trade Finance Corporation (ITFC) -  for integrating its efforts with Egypt’s initiatives that support and empower women economically. Moreover, she underscored ITFC’s cooperation with the Ministry of Trade and Industry in preparing a proposal aimed at supporting and developing the capabilities of women working in the field of traditional handicrafts, as well as increasing their ability to export abroad. This is all thanks to ITFC’s foreign trade and institutional support, in addition to the constructive cooperation in Egypt’s second annual program within the Arab-African Trade Bridges Program (AATB), which is managed by ITFC, through organizing a number of exhibitions in Africa within the framework of facilitating Egyptian exports to African markets and in line with Egypt’s strategy in the same field.

 The IsDB Group 2022 Annual Meetings in Sharm El Sheikh come in response to an invitation from the Arab Republic of Egypt, with an aim to enhance cooperation together and consolidate economic relations amongst IsDB Group member countries. Representatives from international and regional financial institutions, Islamic banks, national development finance institutions, business associations, and consultants from member countries are attending the activities preceding the meetings.

The meetings mainly comprise: “the 29^th Meeting of the Board of Governors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)”, “the 22^nd General Assembly of the Islamic Corporation for the Development of the Private Sector (ICD)”, and “the 17^th Meeting of the Board of Governors of the International Islamic Trade Finance Corporation (ITFC)”.

Mr. Oussama Abdul Rahman Kaissi, Chief Executive Officer of The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), stressed that the corporation aims to enhance commercial transactions in its member countries and facilitate the flow of foreign direct investments to them.

He added: “In order to achieve its objectives, ICIEC provides credit solutions to cover political and commercial risks, in addition to insurance and reinsurance solutions that enhance credit, in accordance with the provisions of Islamic Sharia.”

Mr. Kaissi also referred to ICIEC’s solid relations with Egypt, underpinning the readiness of the Corporation to support the Egyptian economy, in line with Egypt Vision 2030 and its endeavors to achieve sustainable development goals.

For his part, Mr. Ayman Amin Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated that the Corporation plays a vital, complementary role in implementing IsDB and the international financial institutions’ activities that take place within the member countries, pointing out that Egypt has been acquiring a long history and an extended relationship with the Bank and its affiliated institutions since 1974, which has resulted in a Group cooperation portfolio of more than US$16 billion.

Additionally, he clarified that the corporation attaches primary importance to working on establishing, expanding, and modernizing the private sector through financing projects of a myriad of companies, along with other Small and Medium Enterprises (SMEs), and those projects get evaluated as per their contribution to the economic development; via creating job opportunities and thus facilitating the achievement of the UN Sustainable Development Goals (SDGs).

Mr. Sejiny concluded: “ICD also provides advisory services to governments and private sector institutions, abiding by certain policies that raise the efficiency of operations and develop capital markets with the adoption of best management practices. ICD also works to establish and strengthen partnerships, with the aim of establishing joint funding, as we are keen on applying Fintech to ensure financial inclusion.”

On the occasion, Eng. Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC), stated: “ITFC is a strategic partner for development in Egypt and will continue to provide integrated commercial solutions that meet the needs of the Arabic Republic of Egypt in vital sectors.”

A number of significant events, including the Business Forum for the Private Sector and a number of major events related to the preparation of the 27th session of the Conference of the Parties (COP27), to the United Nations Framework Convention on Climate Change slated for November 2022, the green economy, achieving sustainable growth and other international issues, will also be taking place on the sidelines of the IsDB Group 2022 Annual Meetings.

-Ends-

For more details Contact:

Mohamed Rashad

Media Relation Director,

Email:

Mohamed.Rashad@influence-me.com

Cell: (+2) 01228951929.

 

 

 

 

Bye, Bye Mubarak

The Egyptian zealots of Tahrir Square have won!

I salute the brave zealots of Tahrir Square in Cairo who stood their ground against the draconian laws of President Hosni Mubarak.

The will of the people of Egypt has prevailed over the evil reign of President Hosni Mubarak as he surrendered and handed over power to military. This is the end of the kleptomaniac government of one of the most corrupt rulers in Africa.

The wind of change began blowing from Tunisia three weeks ago and sent President Zine El Abidine Ben Ali packing. Now the second autocratic government to fall is that of Hosni Mubarak. Who is next?



The wind of change blowing in North Africa will spread to the rest of Africa and will be welcomed in Zimbabwe where the life president Robert Mugabe will either resign in peace or be disgraced out of office.


~ By Ekenyerengozi Michael Chima

Egypt will never be the same, says Barack Obama

February 11, 2011

Obama: Egypt has spoken
U.S. President Barack Obama offers his support for Egypt following the end of Hosni Mubarak's 30-year rule. Deborah Lutterbeck reports.

© 2011 Reuters


11 Feb 2011 15:40 Africa/Lagos

Statement of President Barack Obama on Egypt

WASHINGTON, February 11, 2011/African Press Organization (APO)/ -- The Egyptian people have been told that there was a transition of authority, but it is not yet clear that this transition is immediate, meaningful or sufficient. Too many Egyptians remain unconvinced that the government is serious about a genuine transition to democracy, and it is the responsibility of the government to speak clearly to the Egyptian people and the world. The Egyptian government must put forward a credible, concrete and unequivocal path toward genuine democracy, and they have not yet seized that opportunity.

As we have said from the beginning of this unrest, the future of Egypt will be determined by the Egyptian people. But the United States has also been clear that we stand for a set of core principles. We believe that the universal rights of the Egyptian people must be respected, and their aspirations must be met. We believe that this transition must immediately demonstrate irreversible political change, and a negotiated path to democracy. To that end, we believe that the emergency law should be lifted. We believe that meaningful negotiations with the broad opposition and Egyptian civil society should address the key questions confronting Egypt's future: protecting the fundamental rights of all citizens; revising the Constitution and other laws to demonstrate irreversible change; and jointly developing a clear roadmap to elections that are free and fair.

We therefore urge the Egyptian government to move swiftly to explain the changes that have been made, and to spell out in clear and unambiguous language the step by step process that will lead to democracy and the representative government that the Egyptian people seek. Going forward, it will be essential that the universal rights of the Egyptian people be respected. There must be restraint by all parties. Violence must be forsaken. It is imperative that the government not respond to the aspirations of their people with repression or brutality. The voices of the Egyptian people must be heard.

The Egyptian people have made it clear that there is no going back to the way things were: Egypt has changed, and its future is in the hands of the people. Those who have exercised their right to peaceful assembly represent the greatness of the Egyptian people, and are broadly representative of Egyptian society. We have seen young and old, rich and poor, Muslim and Christian join together, and earn the respect of the world through their non-violent calls for change. In that effort, young people have been at the forefront, and a new generation has emerged. They have made it clear that Egypt must reflect their hopes, fulfill their highest aspirations, and tap their boundless potential. In these difficult times, I know that the Egyptian people will persevere, and they must know that they will continue to have a friend in the United States of America.



Source: The White House

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11 Feb 2011
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