RIYADH, Saudi Arabia, May 1, 2024/ — The Islamic Development Bank Group Business Forum (THIQAH) (www.IDBGBF.org) and the World Association of Investment Promotion Agencies (WAIPA) have recently signed a Memorandum of Understanding (MoU) aimed at fostering collaboration to promote business and investment opportunities on a global scale.
The signing ceremony, held in Jeddah, Saudi Arabia, signifies a strategic alliance between THIQAH and WAIPA, two prominent entities dedicated to facilitating economic growth and investment promotion.
Under the MoU, THIQAH and WAIPA commit to cooperating through various initiatives such as promoting investment opportunities, organizing international business-related events, and facilitating access to information and resources for potential investors. The agreement underscores the shared vision of both organizations to enhance economic development and create mutually beneficial partnerships.
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)
About WAIPA:
The World Association of Investment Promotion Agencies (WAIPA) is a non-governmental organization established to promote investment promotion worldwide. With its headquarters in Geneva, Switzerland, WAIPA provides support and fosters collaboration among investment promotion agencies to attract investment and drive economic growth.
About the Islamic Corporation for the Development of the Private Sector (ICD):
The Islamic Corporation for the Development of the Private Sector is a multilateral development financial institution and a member of the Islamic Development Bank Group. It was established in November 1999 to support economic development in member countries by providing financing for private sector projects, promoting competition and the spirit of entrepreneurship, and encouraging cross-border investments. The Corporation received an A+ rating from Fitch, A2 from Moody’s, and A- rating from S&P. It fosters cooperation and partnerships aimed at providing joint or group financing to make financing more effective and comprehensive. For more information, visit www.ICD-PS.org
