Jeddah, Kingdom of Saudi Arabia- The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer and member of the Islamic Development Bank (IsDB) Group, is pleased to announce that its Board of Directors (BOD), during its 121st meeting, has approved   to appoint Dr. Khalid Khalafalla as the new Chief Executive Officer (CEO) of ICIEC, effective 16 December 2024.

In his tenure within the IsDB Group, which began when he joined as a Young Professional in 2005, Dr. Khalafallah has held multiple senior roles. These include serving as ICIEC Officer-in-Charge since May 2024,   Principal Executive Assistant in the IsDB President’s Office, and contributing extensively to ICIEC’s operations in various capacities from 2007 to 2017.

Commenting on his new role, Dr. Khalid Khalafalla said:  “I am honored to serve as the Chief Executive Officer of ICIEC. It is a privilege to lead an institution that has a long-standing legacy of supporting sustainable development, facilitating trade and investment, and promoting inclusive growth in its member states. I look forward to working closely with our exceptional team, the Board of Directors, and our valued partners as we continue to advance ICIEC’s mission and amplify its positive impact in global markets.”

The Chairman of the Board of Directors congratulates Dr. Khalafalla on his appointment and extends its full support as he assumes leadership. Under his leadership, ICIEC is poised to strengthen its strategic partnerships, enhance product offerings, and reinforce its position as a global leader in facilitating secure and sustainable trade and investment flows.