IsDB Meeting in Algiers: “Thiqah” Signs Multiple Agreements with Algerian Institutions

The Business Forum (“Thiqah”) of the Islamic Development Bank (IsDB) signed several strategic agreements with Algerian institutions on Thursday in Algiers, aimed at enhancing investment and fostering economic cooperation within Algeria.

The agreements were established with the Association of Banks and Financial Establishments (ABEF), the Algerian Chamber of Commerce and Industry (CACI), and the Arab-African Centre for Investment and Development (CAAID). According to an IsDB statement, the signing ceremony was attended by high-ranking government officials, business leaders, and international partners.

This event took place during the Private Sector Forum, held in conjunction with the annual meetings of the IsDB group. The forum was organized under the patronage of Algerian President Abdelmadjid Tebboune and operated under the theme “Diversifying Economies, Enriching Lives.” It concluded on Thursday at the International Conference Center (CIC) after four days of activities.

The protocol signed with ABEF aims to strengthen partnerships and collaboration in investment sectors, facilitating information exchange regarding business opportunities and jointly organizing forums, conferences, and workshops. The objective is to contribute to the growth of the financial and investment sectors in member countries, with a particular emphasis on Algeria, as noted in the statement.

The agreement with CACI seeks to facilitate the exchange of information on trade and investment opportunities, promote cross-participation in economic events, and encourage delegation exchanges. The IsDB emphasized that this initiative aims to stimulate economic development and broaden partnerships between the Algerian private sector and counterparts from other member countries of the Bank Group.

Meanwhile, the agreement with CAAID focuses on fostering cooperation in investment and development. It commits both parties to co-organize regional and international conferences, exchange expertise, and facilitate delegation exchanges to enhance economic collaborations with global investment stakeholders.

These agreements embody a shared vision geared towards promoting sustainable development and integrating regional and global economies, the source further highlighted.