The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and KazakhExport, Kazakhstan’s Export Credit Agency, have renewed their Quota-Share Treaty Reinsurance Agreement for 2025–2026. This partnership strengthens trade, investment, and economic collaboration among Organization of Islamic Cooperation (OIC) member states.
Renewed Commitment to OIC Trade and Investment Cooperation
The agreement, covering 1 October 2025 to 30 September 2026, was signed by Dr. Khalid Khalafallah, CEO of ICIEC, and Mrs. Ayan Bektybayeva, Deputy Chairman of the Board of KazakhExport, during the 15th Annual Meeting of the AMAN Union held from 4–6 November 2025 in Jeddah.
This renewal highlights the shared dedication of ICIEC and KazakhExport to advancing investment cooperation OIC initiatives. It enables KazakhExport to enhance its underwriting capacity for trade-finance risks, particularly in sectors driving export diversification and supporting small and medium-sized enterprises (SMEs).
Quota-Share Treaty Supports Export Growth
Under the agreement, ICIEC continues to provide reinsurance coverage for KazakhExport’s Documentary Credit Insurance Policy (DCIP). This coverage allows the agency to underwrite larger and more diversified trade transactions, fostering economic growth and stability across OIC countries.
Dr. Khalid Khalafallah stated, “This renewal reflects the depth of our partnership with KazakhExport and our shared vision to advance trade and investment across OIC member countries. Through this treaty, ICIEC delivers reinsurance and technical support that empower member ECAs to underwrite impactful trade deals.”
About ICIEC
ICIEC, a Shariah-based multilateral insurer and part of the Islamic Development Bank (IsDB) Group, was established in 1994 to promote intra-OIC trade and investment. It has insured more than USD 121 billion in trade and investment and operates in key sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture.
For the 18th consecutive year, ICIEC maintained an “Aa3” insurance financial strength credit rating from Moody’s, and S&P reaffirmed its “AA-” long-term issuer credit and financial strength rating, showcasing its resilience and strong risk management policies.
Media Contact:
Email: ICIEC-Communication@isdb.org
Website: https://ICIEC.IsDB.org
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This story was first reported by APO Group. Read the full article here.
