Riyadh, Saudi Arabia, 29 April 2024 – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Shariah-compliant multilateral insurer of the Islamic Development Bank (IsDB) Group, has published a comprehensive book, titled “30 Years of ICIEC Milestones – Covering Member States Credit and Political Risks” to mark the Pearl Jubilee anniversary of the unique risk mitigation and credit enhancement multilateral institution.

The book, according to ICIEC, tells a “Compelling Story” of three decades of transformative social and economic development impact through innovative risk mitigation and credit enhancement solutions. It traces the roots and rational of the Corporation’s perspicacious establishment in 1994, and its backstory in the context of the prevailing export credit and investment culture and playbook.

In this respect there are invaluable messages and interviews involving the found fathers of ICIEC including the Chairmen of the Boards and the two Chief Executive Officers; 30 years of cumulative achievements
in figures, charts and development impact case studies; and the uptake of ICIEC products and services by member states since inception.

Other chapters of profound interest include a Shariah perspective on Export Credit and Investment Insurance; an analysis of ICIEC’s three decades of progress, innovation and impact development; its impressive international linkages highlighting the value of partnerships as per the UN SDG Agenda; and its leadership of the AMAN UNION.

The book also looks ahead to the promise and potential of ICIEC in the next 30 years especially a stock take of the Current State of the Industry; Upscaling Market Awareness, Education, Technical Assistance, Credit Information and Advisory Services; Embracing Digitalization in credit and investment insurance; the Corporation’s Great Green Leap Forward; the Future of Intra-OIC Trade and Investment; Food Security; Engaging the Private Sector; Engaging Sovereign Wealth and Pension Funds (SWPFs) in the OIC Member States; and Upscaling ICIEC’s Sukuk Insurance policy.

The book finishes with an impressive flow diagram of 30-year History in Milestones. A Must Have publication for anyone interested in Shariah compliant credit and investment insurance, one of the few genuine alternative financial concepts and products to merge from the Global South!