Jeddah-headquartered Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a multilateral Shariah-based insurer and member of the Islamic Development Bank Group, and African Export Import Bank (Afreximbank) have signed a memorandum of understanding (MoU) to strengthen cooperation in promoting trade and investment flows across Arab and African countries. The MoU was signed in Cairo, where Afreximbank has its head office.