The National Bank of Bahrain (NBB) has signed various agreements with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group.
The agreements were formalised and signed on June 19 during the IsDB Group Annual Meetings in Baku, Azerbaijan.
Through these agreements, the bank will further strengthen its ability to finance international trade transactions and scale its activities in markets while maintaining strong risk discipline.
NBB Group chief executive officer – corporate and commercial banking Ali Abdulkarim said, “For many businesses, entering new markets depends on the availability of trusted banking support that can help them manage counterparty, country, and transaction risks with greater clarity. This partnership gives us added capacity to provide that support and facilitate cross-border business in a way that is commercially responsive, and aligned with the bank’s risk management mandates.”
ICIEC CEO Dr Khalid Khalafalla added, “The ICIEC’s mission centres on enabling trade and investment flows across member countries by helping financial institutions manage risk in a responsible and effective manner. Our collaboration with NBB reflects the important role of credit insurance in unlocking business opportunities across challenging and complex markets, while supporting the wider development of more resilient trade corridors. We are pleased to partner with NBB, and contribute to enhancing its capacity to serve clients engaged in international commerce.”
Through this initiative, NBB continues to advance its trade finance platform to better serve clients with international growth ambitions, while maintaining the governance and compliance standards that underpin its approach to sustainable business expansion.
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