Majlis approves for Maldives to join ICIEC
52 lawmakers voted in favour of Maldives joining the Islamic Corporation for the Insurance of Investment and Export Credit
People's Majlis
People’s Majlis has voted in favour of Maldives joining the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
52 lawmakers voted in favour of the motion forwarded by President Ibrahim Mohamed Solih, during Monday’s sitting.
The matter was reviewed by the parliament’s committee on foreign relations, who noted that the main purpose of ICIEC is to help increase investment opportunities and expand businesses for member nations.
The committee’s report also highlighted that Maldives had officially applied for ICIEC membership on 4 July 2017.
Established on 1 August 1994 as an international institution with full juridical personality, the Islamic Corporation for the Insurance of Investment and Export Credit is a member of the Islamic Development Bank (IsDB) Group.
ICIEC was established to provide investment and export credit insurance solutions compliant with Shariah Principles and hence, to strengthen the economic relations between member countries of the Organization of the Islamic Cooperation.
