Algerian Chamber & IsDB Organize Forum

The institutions of the Islamic Development Bank (IsDB), the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC) in collaboration with the Algerian Chamber of Commerce and Industry and the IsDB Group Business Forum "Thiqah," organized the "Islamic Development Bank Group Services Forum " on Tuesday, April 29, 2025, at the Chamber’s headquarters in Algiers.

The event coincides with preparations for the IsDB Group Annual Meetings, scheduled to take place from May 19 to 22, 2025, under the high patronage of His Excellency Mister Abdelmadjid Tebboune, President of the People’s Democratic Republic of Algeria. Bringing together a diverse range of stakeholders, the forum aimed to showcase the Group’s services, activities, and initiatives across member countries, with a particular focus on Algeria. It highlighted the Group’s ongoing support for private sector development and its efforts to stimulate promising investments in the Algerian market.

The forum's program included panel discussions and specialized deliberations on ways to enhance economic partnerships and the role played by the Group's institutions in supporting the needs of member countries. Financial tools were presented, such as financing lines, trade finance and development, private sector financing, as well as investment insurance and export credit services. The forum attracted significant participation, drawing senior business leaders, CEOs from the private sector, and representatives of chambers of commerce, industry and investment organizations as well as trade promotion agencies.

In his opening speech, Mr. Nazeem Noordali, Chief Operating Officer of ITFC and head of the Islamic Development Bank Group delegation, welcomed the participants, emphasizing the importance of holding this forum in preparation for the Group's 50th Annual Meetings. In his statement, he said: "Through this forum, we affirm the Islamic Development Bank Group's commitment to supporting private sector growth and sustainable economic development in our member countries. We are here to strengthen strategic partnerships, present integrated financial and investment solutions, and open new horizons for cooperation. The upcoming Annual Meetings and Private Sector Forum in Algeria will provide a unique platform to showcase investment opportunities, enhance economic cooperation, and lay the foundations for future prosperity."

Mr. Noordali concluded his speech by expressing sincere thanks to the Algerian authorities and all participants for their constructive engagement, affirming that the Islamic Development Bank Group remains committed to empowering companies, promoting inclusive growth, and achieving shared prosperity in the region.

Mr. Chekib Ismail Kouidri, Director-General of the Algerian Chamber of Commerce and Industry, stated: "We take great pride in this meeting, especially as Algeria is one of the founding countries of the Islamic Development Bank (IsDB) and one of its key supporters, having maintained strong ties with the institution since joining its membership in 1975." He added: "This robust partnership motivates us to continue advancing economic development and capitalizing on the opportunities available between Algeria, the Islamic Development Bank Group, and its member states."