ICIEC DEVELOPMENT IMPACT

Impact Developments

At COP28, ICIEC launched a Climate Change Policy and ESG Framework to transform and enhance sustainable practices and operations in line with member states needs and best industry practice. Several MoUs were signed and collaborations were initiated during this time.
ICIEC, in collaboration with IsDB and UNCTAD, has committed to promoting sustainable investment in developing countries.
ICIEC launched the “Senegal and ICIEC – Empowering Real Economy, Driving Development Impact” book to encourage investment in Senegal.
Azerbaijan joined ICIEC as its 49^thmember state.
ICIEC signed several MoUs and partnerships with governmental bodies promoting trade and business across various sectors in their respective countries.

ICIEC has introduced an innovative Executive Coaching Program aimed at nurturing and refining leadership skills within the Corporation.
ICIEC has implemented a comprehensive Staff Training and Knowledge Sharing Program to promote a culture of continuous learning and knowledge sharing among its staff, while encouraging collaboration and innovation.
ICIEC organized two Capacity Building Programs for the benefit of the potential users of the OIC Business Intelligence Centre (OBIC) to deepen their understanding of OBIC, its core business areas, and its upcoming services.
The ICIEC Takaful System (ITS) is in the final stages of implementation, undergoing rigorous testing to ensure the system is robust, reliable, and ready for the future challenges of the insurance industry.

Over the recent past years, ICIEC has seen a continuous strengthening of its standalone credit quality.
Despite the global pandemic’s challenges, ICIEC’s profitability remained resilient in 2023.
For the first time, Moody’s has assigned ICIEC an ESG Credit Impact Score, which is neutral-to-low (CIS-2). This score indicates a limited impact from environmental and social factors on the rating.

The 11^thIsDB Group Private Sector Forum was held, witnessing the signing of 61 agreements, emphasizing the integration of public and private sectors.
ICIEC signed the Bank Master Policy with the Islamic Corporation for the Development of the Private Sector (ICD).
The Islamic Development Bank (IsDB) spearheaded a side event at the MENA Climate Week 2023, titled “Investing in Climate and Sustainability – Perspectives from Private Sector.” This event aligned with the theme “Societies, health, livelihoods and economies,” specifically focusing on the sub track of “Livelihoods.” This was a joint initiative involving four organizations: IsDB, ICIEC, ITFC, and ICD.