The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IDB) Group, is a pioneer in the field of Shariah compliant credit and political risk insurance and reinsurance.
ICIEC was established in 1994 as an international institution with full juridical personality and with the objective of increasing the scope of trade transactions of its Member Countries, and to facilitate foreign direct investments (FDI) into the same countries. ICIEC fulfills these objectives by providing appropriate Islamic Shariah compatible credit and country risk insurance and reinsurance instruments.
Website: www.iciec.com
4. 4
Islamic Corporation
for the Development
of the Private Sector
Promotes private sector
development in Member
Countries
The Islamic
Corporation for the
Insurance of
Investment and
Export Credit
Provides political risk
and export credit
insurance
Islamic Research &
Training Institute
Provides training, research,
advisory and capacity
building for development of
the Islamic Financial Services
Industry (IFSI)
International Islamic
Trade Finance
Corporation
Provides financing and
capacity building to
encourage intra-trade across
OIC member countries
5. 5
Established in 1994 in Jeddah – Saudi Arabia as a multilateral institution and member of the Islamic
Development Bank Group
Owned by AAA rated Islamic Development Bank and 44 member countries which are members of the
Organization of Islamic Cooperation
Authorized Capital :
ID 400 m ( about USD 560 m ) (1 ID=$1.41)
Pioneer of Shariah Compliant export credit and investment insurance and reinsurance solutions
Member in Berne Union, the leading association for export credit and investment insurance
players worldwide.
Cofounder of AMAN Union (the Association of the Islamic & Arab Export Credit Agencies (ECAs))
Rated Aa3 by Moody’s with stable outlook
7. 7
Export Credit Insurance
Member
Countries
To encourage exports from Member
Countries to the rest of the World
Investment Insurance
To Encourage the Flow of Capital and
Investments from the World to Member
Countries
Member
Countries
Credit Insurance for Imports
To support import of strategic goods and
capital equipment by member countries
from the rest of the world
Domestic Credit Insurance
Covering domestic sales of
exporters in member countries
8. 8
Board of Governors
Minister of Finance /Central
Bank Governor Representing 44
Member Countries
Board of
Directors
Shariah Committee
Audit Committee
Chairman of the Board
of Directors, President
of IDB Group
IDB Group
Management
Committee
Group Internal
Audit Dept.
Group Risk Mgmt
Dept.
Group Strategic
Planning Dept.
Group Ombudsman
Group Integrity
Officer
CEO
ICIEC Management
Committee
Technical
Underwriting
Committee
Risk Management
Committee
Claims Committee
Investment
Committee
Country Risk Review
Committee
11. Credit Insurance Investment
insurance
Credit
Insurance
Investment
insurance
Export Credit and Investment
Reinsurance
Insurance of
confirmed
Letters of Credit
Insurance of
buyer credit
Non-Honoring of
Sovereign Financial
Obligations
Political Risk
Insurance of
oversees loans
Insurance of
supplier credit
Political risk
insurance for
equity
investment
/projects
Reinsurance/Co-
insurance/fronting