The Islamic Development Bank and its affiliated institutions to hold their annual meetings in Sharm El-Sheikh early next June

The city of Sharm el-Sheikh in the Arab Republic of Egypt is witnessing the holding of the annual meetings of the institutions affiliated with the Islamic Development Bank, on the sidelines of the forty-seventh session of the annual meetings of the Islamic Development Bank 2022, which will be held during the period from 1 to 4 June 2022 under the slogan (After recovering from the pandemic: resilience and sustainability).

 The meetings will be launched under the auspices of His Excellency President Abdel Fattah El-Sisi, and in the presence of Dr. Hala El-Said, Minister of Planning and Economic Development, and the Ministers of Economy, Planning, and Finance in the Bank's 57 member states.
The holding of the annual meetings of the Islamic Development Bank and its affiliated institutions in Sharm El-Sheikh comes in response to an invitation from the Government of the Arab Republic of Egypt, which aims to enhance cooperation with the Islamic Development Bank Group and consolidate economic relations among member states.
Representatives of international and regional financial institutions, representatives of Islamic banks, national development finance institutions, business associations, and consultants from member states participate in the activities accompanying these meetings.
The mentioned meetings, which will be held on the sidelines of the annual meeting of the Islamic Development Bank, will include the 29th meeting of the "Board of Governors of the Islamic Corporation for the Insurance of Investment and Export Credit", the 22nd meeting of the "General Assembly of the Islamic Corporation for the Development of the Private Sector", and the 17th meeting of the "Board of Governors of the International Islamic Trade Finance Corporation".

Dr. Hala El-Said, Minister of Planning and Economic Development and Governor of Egypt at the Islamic Development Bank Group stressed the importance of the strategic partnership between the Republic of Egypt and the Islamic Corporation for the Insurance of Investment and Export Credit and the insurance arm of the Islamic Development Bank Group.
 El-Said praised the pioneering role played by the Corporation and the continuous and fruitful cooperation between the two parties, explaining that the Corporation's operations in Egypt amounted to $7.35 billion, including covering operations related to import and export, credit service on exports, and securing foreign investments.


El-Said clarified the importance of expanding the institution's important role in supporting Egyptian exporters and enhancing opportunities for promoting the institution's activities and services in Egypt while setting up a permanent mechanism for the promotion of incoming foreign investments.

Osama Abdel-Rahman Al-Qaisi, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit, a member of the Islamic Development Bank Group, stressed that the corporation aims to enhance commercial transactions in its member countries and facilitate the flow of foreign direct investments to them, which will be reflected in achieving sustainable social and economic development in member countries.


He added: To achieve its objectives, the Islamic Corporation provides credit solutions to cover political and commercial risks, in addition to insurance and reinsurance solutions that enhance credit, following the provisions of Islamic Sharia.


He also referred to the strength of relations with Egypt, stressing the readiness of the Islamic Foundation to support the Egyptian economy, in line with Egypt's Vision 2030 and the serious and deliberate steps taken by the Egyptian government to achieve sustainable development.

It is worth noting that some important side events will be organized on the sidelines of the annual meetings of the Islamic Development Bank 2022. Include a business forum for the private sector.


 Several events related to the preparation for the twenty-seventh session of the Conference of the Parties to the United Nations Framework Convention on Climate Change in 2022, the green economy, achieving sustainable growth and confronting climate change, and other issues raised on the international scene will also be organized.