Maldives’ Parliament Votes in Favour of Maldives Joining the ICIEC 

The Parliament of the Republic of Maldives (People’s Majlis) has voted in favour of Maldives joining the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), which is part of the Islamic Development Bank (IsDB) Group. The motion was brought forward by the President of Maldives, Ibrahim Mohamed Solih during the Parliament’s sitting on the 21st of June 2021, according to local media reports.

Why it Matters?

Maldives had officially applied for ICIEC membership on the 4th of July 2017, as per the Parliament’s committee on foreign relations’ report. According to the committee who reviewed the motion, the main purpose of ICIEC is to help boost investment opportunities and expand businesses for member nation...