The Algerian Chamber of Commerce and Industry (CACI) and the Islamic Bank Group organize a forum to introduce financing services in preparation for the 2025 Annual Meetings
The institutions of the Islamic Development Bank (IsDB) (www.IsDB.org), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC) in collaboration with the Algerian Chamber of Commerce and Industry and the IsDB Group Business Forum "Thiqah," organized the "Islamic Development Bank Group Services Forum " on Tuesday, April 29, 2025, at the Chamber's headquarters in Algiers.
The event coincides with preparations for the IsDB Group Annual Meetings, scheduled to take place from May 19 to 22, 2025, under the high patronage of His Excellency Mister Abdelmadjid Tebboune, President of the People's Democratic Republic of Algeria.
Bringing together a diverse range of stakeholders, the forum aimed to showcase the Group's services, activities, and initiatives across member countries, with a particular focus on Algeria. It highlighted the Group's ongoing support for private sector development and its efforts to stimulate promising investments in the Algerian market.
The forum's program included panel discussions and specialized deliberations on ways to enhance economic partnerships and the role played by the Group's institutions in supporting the needs of member countries. Financial tools were presented, such as financing lines, trade finance and development, private sector financing, as well as investment insurance and export credit services.
The forum attracted significant participation, drawing senior business leaders, CEOs from the private sector, and representatives of chambers of commerce, industry and investment organizations as well as trade promotion agencies.
In his opening speech, Mr. Nazeem Noordali, Chief Operating Officer of ITFC and head of the Islamic Development Bank Group delegation, welcomed the participants, emphasizing the importance of holding this forum in preparation for the Group's 50th Annual Meetings. In his statement, he said: "Through this forum, we affirm the Islamic Development Bank Group's commitment to supporting private sector growth and sustainable economic development in our member countries. We are here to strengthen strategic partnerships, present integrated financial and investment solutions, and open new horizons for cooperation. The upcoming Annual Meetings and Private Sector Forum in Algeria will provide a unique platform to showcase investment opportunities, enhance economic cooperation, and lay the foundations for future prosperity."
Mr. Noordali concluded his speech by expressing sincere thanks to the Algerian authorities and all participants for their constructive engagement, affirming that the Islamic Development Bank Group remains committed to empowering companies, promoting inclusive growth, and achieving shared prosperity in the region.
Mr. Chekib Ismail Kouidri, Director-General of the Algerian Chamber of Commerce and Industry, stated: "We take great pride in this meeting, especially as Algeria is one of the founding countries of the Islamic Development Bank (IsDB) and one of its key supporters, having maintained strong ties with the institution since joining its membership in 1975." He added: "This robust partnership motivates us to continue advancing economic development and capitalizing on the opportunities available between Algeria, the Islamic Development Bank Group, and its member states."
Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).
Contact:
ICIEC:
Website: www.ICIEC.IsDB.org
ICD:
Website: www.ICD-ps.org
ITFC:
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: ITFC@itfc-idb.org
THIQAH:
Email: THIQAH@isdb.org
Social Media:
ICIEC:
Twitter (X): @ ICIEC_IDB
LinkedIn: ICIEC
Facebook: @ ICIEC.IsDB
YouTube: ICIEC.IsDB
ICD:
Twitter: @ ICD_PS
LinkedIn: ICDPS
Facebook: @ icdps
YouTube: ICDPS
ITFC:
Twitter: @ ITFCCORP
Facebook: @ ITFCCORP
Linkedin: International Islamic Trade Finance Corporation (ITFC)
THIQAH:
Twitter: @ IDBGTHIQAH
Facebook: @ IDBGTHIQAH
LinkedIn: IsDB Group Business Forum - THIQAH
About the Algerian Chamber of Commerce and Industry:
The Algerian Chamber of Commerce and Industry (CACI) is an institution that represents the interests of businesses in Algeria. It plays a key role in promoting and developing the national economy by providing services and support to companies across various sectors. These services include administrative and legal assistance, access to economic databases, as well as mediation and arbitration.
The Chamber of Commerce and Industry is tasked with providing public authorities, upon request or on its own initiative, with opinions, suggestions, and recommendations on matters and concerns that directly or indirectly affect the trade, industry, and service sectors at the national level.
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 commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 49 Member States, including Documentary Credit Insurance Cover, Credit Insurance Cover, Bank Master Policy, Non-Honouring of Sovereign Financial Obligations, and Investment Insurance Products. ICIEC, for the 16 th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. ICIEC also has achieved a significant milestone by attaining an "AA-" long-term issuer credit and financial strength rating from Standard E Poor's (SEP), with a stable outlook and the highest within its peer group globally. ICIEC's resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than US$ 108bn in trade and investment. ICIEC activities are directed to specific sectors - energy, manufacturing, infrastructure, healthcare, and agriculture.
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). It supports the economic development of its member countries by providing financial assistance to private sector projects in accordance with the principles of Shari'ah. It also mobilizes additional resources for projects and encourages the development of Islamic finance. ICD's operations complement the activities of IsDB in member countries and also those of national financial institutions. ICD has 55 member countries and five public financial institutions as its shareholders and has an authorized capital of USD 4 billion.
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 US$69 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. (www.IDBGBF.org)
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