ICIEC appoints Hani Salem Sonbol as acting CEO

The chairman of the Board of Directors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IDB), has appointed Hani Salem Sonbol as acting CEO of ICIEC. This is in addition to his current duties as the deputy CEO of the International Islamic Trade Finance Corporation (ITFC).
Sonbol replaces Abdel-Rahman El-Tayeb Ali Taha, who retired after 20 years of service as CEO of ICIEC and who has been instrumental in the evolution of ICIEC as the first world credit and political risk insurer operating in compliance with Shariah principles.
Sonbol, a Saudi national, joined the IDB in 1987, and has held a number of senior positions within the group, including regional director of IDB Group in Morocco, and Director of the Trade Finance and Promotion Department (TFPD) in the IDB Group, taking up his current position as deputy CEO of ITFC since January 2008.
Sonbol holds a Bachelor’s degree in civil engineering from Bluefield State University, in the US state of West Virginia, in 1984, and Master’s degree in engineering management with honors from George Washington University in the United States, in 1987. He has attended several training courses, including the leadership development program of Harvard University in the United States.