ICIEC’s Women in Credit and Investment Insurance
A Trajectory for Gender Responsiveness and Balance in the Workplace
Of the current cohort of ICIEC’s 85 staff 15 are women. They vary from Country Managers, four of whom are featured in this article, to finance, underwriting, credit risk, corporate affairs, training, communications and marketing, human capital and resources, and public relations professionals. Their commitment, aspirations, knowledge, experience, expectations, and career pathways are universal, irrespective of the various metrics of identity, be it ethnicity, gender and creed.
As a signatory to the Principles of Sustainable Insurance (PSI), first introduced in 2012, and being the unique sole Shariah-compliant multilateral insurer in the world, and a member of the Islamic Development Bank (IsDB) Group, and of industry bodies such as the Berne Union, the AMAN Union and the International Credit Insurance and Surety Association (ICISA), gender responsiveness and balance are embedded in ICIEC’s playbook, at least in strategy terms, although in reality it is also a work in progress, as in almost all multilaterals and corporates around the world irrespective of demography and socio-economic status.
ICIEC of course does underwrite gender-responsive policies for transactions it supports in its 50 member states in line with their respective development agendas, especially in promoting women-owned-and-run Micro-and-Small-and-Medium-Sized-Enterprises (MSMEs) and women entrepreneurs. Gender responsiveness is increasingly becoming a core component of the gamut of the MDB and corporate architecture globally including the PSI.
The experiences and career paths of Sabah Alharbi, Eman A Mahmoud, Khady Seye, and Christelle Rivera in support of women in credit and investment insurance, sustainable finance and impact investment in developing markets, speak for themselves.
Ms. Sabah Alharbi, Country Manager, MENA Region, ICIEC
“I have over 18 years of extensive business experience in the Credit and Political Risk Insurance (PRI) business. This includes diversified experience in Policy Administration, Customer Relations to Country Manager and sales roles with key ICIEC accounts in MENA countries.
My Professional Experience at ICIEC spans as a Sales Assistant, then as a Policy Administration Officer, between 2008 to 2012, before moving on to become a Customer Relations Specialist till end of 2016, and then promoted to a pivotal role as Country Manager for the MENA region in 2017, a position I continue to hold.
My journey in the business world began in policy administration not to forget when our IMS had developed a portal online, I was among the top pioneers who trained clients on the system. With this massive development we were able to ease the process of workflow. Through my dedication, hard work and speed of learning, I was transferred to professional level, being a key staff member within the Customer Relations Department, where I managed relationships with existing clients and helped to resolve process obstacles and customer issues and feedback. This path ultimately led me to my current role as a Country Manager, where I oversee and support sales across specified countries in the Middle East and North Africa.
My personal interaction with clients helped me to increase our business not only in the MENA region, but also in the ASIA and SSAE regions, in close interaction with our sister organisation in the IsDB Group, The International Islamic Trade Finance Corporation (ITFC). Within this synergy, we will impact in positive way for the business portfolio not only in my division but as well to other divisions in ASIA and SSAE.
My motivation is also to continue improving my skills set through professional development and further qualifications and certifications. These include participating in ICIEC’s “Woman Leadership Programme in 2023,” courses on “Climate Change Fundamentals,” “Role of Credit Information Sharing & Business Intelligence in Supporting Trade & Investment Decisions (OBIC),” “Sukuk Structuring and Risk,” and “Buyer and Banking Underwriting.”
The fact that I am also a Certified International Credit Professional and a Certified Islamic Banker has helped me in my work for a dedicated Shariah-compliant multilateral insurer. In my current role, I am responsible for driving business growth by attracting new customers and enhancing relationships with existing clients. By implementing region-specific sales strategies, I had significantly contributed to increasing business insured and premium income, aligning with the corporation’s overall goals.
My forte is in generating business, ensuring the quality of insured business, and assisting customers in understanding new policies. With a strong ability to develop market intelligence, I provided valuable input for the continuous improvement of existing products. I am known for being highly motivated and self-directed, which has impacted in consistently delivering positive results that have led to increasing responsibilities and notable recognition throughout my career.”
Ms. Eman Mahmoud, Country Manager Egypt, ICIEC
“I have a strong foundation in finance and credit analysis, having completed a BCom from Cairo University and a MA in Business from The Ohio State University. I am also a certified Credit Analyst and a Certified Financial Modelling and Valuation Analyst.
My professional journey has been marked by a focus on credit and investment analysis, with experience spanning both commercial banks and a multilateral development finance institution. My current role as Country Manager for ICIEC has further honed my skills in these areas.
In my capacity as Country Manager at ICIEC, I have been instrumental in driving business development as part of the MENA region team. My responsibilities encompass establishing and maintaining relationships with strategic partners, origination, new project screening, appraisal, due diligence, and presenting new transactions for technical committee approval. This role has provided me with invaluable experience in credit and political risk assessment, project evaluation, and transaction structuring.
My expertise extends to several key areas such as Credit and Origination, Sustainable Finance and Development, Impact Investment, and Credit Risk Management. Recently, I presented a Paper titled ‘Insuring a Sustainable Future: An ICIEC Perspective’ at the BDC International Banking conference in Cairo, Egypt.
While the field of credit and investment insurance offers numerous opportunities, barriers include the need for specialized knowledge and experience, as well as a strong understanding of the regulatory, political and economic landscape. Additionally, building relationships with strategic partners and developing a strong network within the industry can be challenging.
Given my strong track record and expertise in credit and investment insurance, sustainable finance, and impact investment, I believe there is significant potential for career advancement within ICIEC. I am glad to have participated in the “Women Leadership Programme” at the Corporation to support women assume leadership roles.
I am excited about the future and the opportunities that lie ahead. I aspire to continue to contribute to the growth of ICIEC, while leveraging my expertise to drive sustainable development and promote inclusive economic growth. I am also keen to explore opportunities for leadership and management roles within the organization.
Ms. Khady Seye, Country Manager Senegal, ICIEC
“As far back as I can remember, I’ve always wanted to work in the financial sector, thus all my academic choices were made in this direction. In 2010, I obtained my MBA in Finance from Laval University in Quebec, Canada. Even then, I was one of the few women in our graduating class to take up this challenge. Nevertheless, obtaining a degree from a faculty with 2 international accreditations that place it among the top 1% of business schools worldwide was a daily motivation.
In 2010, with an MBA and CFA (Chartered Financial Analyst) Level 1 designation in my pocket, I began my career in Quebec at Desjardins as an account manager whose main mission was to offer financing solutions to companies in a variety of sectors. Always looking for new challenges, I joined Export Development Canada, one of the largest Export Credit Agencies (ECAs) in terms of assets which task is to support and develop Canada’s export trade by helping Canadian companies.
It was in August 2023 that I joined the ICIEC team in Senegal. As I was already familiar with credit insurance from my previous experiences, my integration was straightforward. Our sector is still very male-dominated, so I see my role as a mission: to pave the way for other women to reach positions of responsibility and be more represented in the management team.
Ms. Christelle Rivera, Sales Administration Associate, UAE, ICIEC
“My journey began during my undergraduate years at University of Saint Anthony in the Philippines, where I pursued a degree in Accounting and Finance. I was fascinated by the mechanisms of financial markets and the impact of strategic financial decisions on business success. This initial spark of interest led me to seek out roles in the financial sector, where I could gain hands-on experience.
I started my career as a Policy Administration Associate at ICIEC, where I was introduced to the intricacies of trade credit and investment insurance. This position allows me to develop a robust understanding of the sector including the different risk mitigation tools and impact of Investment and Credit Risk Management in global economic markets.
My role at ICIEC plays a crucial part in managing and maintaining the various insurance policies including the account management and direct collaboration with the Reinsurance Partners. My expertise extends to Financial and Management Reporting, Account Reconciliations, Reinsurance Portfolio Management, and Trade Credit and Investment Insurance.
As I continued to advance in my career, I took a Certified Management Accountant (CMA) certification course which is highly regarded in the fields of management accounting and demonstrates expertise in financial and strategic planning. By leveraging the expertise gained through the CMA certification, I believe I can contribute to overall operational efficiency and support ICIEC’s success and continuous growth.
The Trade Credit and Investment Insurance industry plays a vital role in facilitating international trade and investment in global markets, however, given the high importance of the business, it requires specialized knowledge in the sector such as compliance, regulatory changes, technological aspects and fostering a strong understanding of market dynamics.
I am looking forward to continuously advancing my career in this strategic institution that supports the economic development of its member states and enhances global economic relations and cooperation.”
