Baku, Azerbaijan – [19 June 2026] – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, is pleased to announce its support for a EUR 100 million financing facility extended by ING Bank (Germany) and SMBC Bank International Plc (United Kingdom) to the Export Credit Bank of Türkiye (Türk Eximbank). 

The transaction was signed on the sidelines of the IsDB Group 2026 Annual Meetings, held in Baku, Republic of Azerbaijan, from 16 to 19 June 2026. 

ICIEC is providing Non-Honoring of Financial Obligations for State-Owned Enterprises (NHFO-SOE) insurance cover for a tenor of 10 years, helping Türk Eximbank access long-term funding to expand affordable export financing for Turkish companies, particularly SMEs. 

Türk Eximbank serves a broad base of Turkish corporates, predominantly SMEs. The facility will help expand access to affordable financing, enabling these companies to scale their operations, pursue new markets, and support employment creation in line with Türkiye’s export growth strategy. 

Commenting on the transaction, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said:" SMEs are central to Türkiye’s export ambitions and long-term economic resilience. Through this facility, ICIEC is helping Türk Eximbank broaden access to competitive financing for companies seeking to expand beyond domestic markets. This agreement reflects the practical value of multilateral cooperation in enabling trade, supporting enterprise growth, and creating lasting development impact.” 

Baku, Republic of Azerbaijan, [17 June 2026] – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, today announced the winners of its flagship awards at the IsDB Group Private Sector Forum 2026, held on the sidelines of the IsDB Group Annual Meetings 2026 in Baku.

This year's awards recognized leading financial institutions that have used Shariah-compliant financing backed by ICIEC’s insurance solutions to facilitate trade and support sustainable development across Member States.

First Abu Dhabi Bank (FAB) was named winner of the ICIEC Most Impactful Project of the Year award for its role in the USD 626 million Murabaha financing transaction for the Lagos-Calabar Coastal Highway Development in Nigeria. Backed by ICIEC’s Non-Honouring of Sovereign Financial Obligations (NHSFO) policy issued in favour of FAB, the transaction covers 95% of the financing provided to the Federal Ministry of Finance of Nigeria. ICIEC’s cover helped to mobilize long term funding for Nigeria for a strategic infrastructure project that will enhance connectivity, improve the movement of goods and people, and contribute to long-term socio-economic growth.

Standard Chartered and Agrobank were named winners of the Most Innovative Trade Development Initiative of the Year award for the EUR 160 million Murabaha facility provided to Agrobank in Uzbekistan by Standard Chartered under ICIEC’s cover. The facility marks Uzbekistan’s first-ever Murabaha transaction and establishes a practical Shariah-compliant model for future trade liquidity solutions. It also represents ICIEC’s first direct commercial banking partnership in Uzbekistan and provides important support to the country’s SME and retail sectors.

Commenting on the awards, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “ICIEC is proud to honour First Abu Dhabi Bank, Standard Chartered & Agrobank for two landmark transactions that demonstrate the impact of Shariah-compliant risk mitigation. These awards reflect how strong partnerships can mobilise capital, enable strategic infrastructure, expand access to trade finance, and deliver meaningful development impact across our Member States.”

The winning transactions highlight ICIEC’s role as a trusted partner in de-risking trade and investment, supporting financial institutions, and helping Member States advance sustainable and inclusive growth.

Baku, Azerbaijan – [17 June 2026] – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, convened a high-level panel discussion titled “De-Risking Trade & Investment for Regional Prosperity” on the sidelines of the IsDB Group Private Sector Forum 2026 in Baku. 

Held at the Baku Convention Center, the session brought together senior representatives from Azerbaijani public and private sector stakeholders, export credit agencies, multilateral development banks, commercial banks, insurers, investors, government entities, State-Owned Enterprises, and business leaders.  

The discussion focused on how risk mitigation can unlock private capital, strengthen investor confidence, and support regional integration across Azerbaijan, ICIEC Member States, and the broader OIC region, in alignment with the Annual Meetings theme, “Regional Integration for Sustainable Prosperity”. Convened in Baku, the session explored how political risk insurance, trade credit insurance, and credit enhancement solutions can help transform opportunities in infrastructure, energy, logistics, ICT, manufacturing, and trade into bankable projects, while supporting Azerbaijan’s expanding role as a regional gateway for investment, connectivity, export-oriented growth, and wider OIC market integration. 

The event featured keynote remarks by Mr. Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO), who highlighted Azerbaijan’s growing role as a regional hub for trade, investment, and connectivity. 

The panel featured Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC; Mr. Yuichiro Akita, President of the Berne Union; Mr. Sujithav Sarangi, Executive Director, Development and Agency Finance Team, Standard Chartered; and Mr. John Lentaigne, Global Head of Structured Credit and Political Risks, Specialist Risk Group. The discussion was moderated by Mr. Elnur Aliyev, Advisor to the Chairman, KOBIA Azerbaijan. 

Speaking during the session, Dr. Khalid Khalafalla said: “Regional prosperity can only deliver its full development impact when trade and investment opportunities are supported by confidence, bankability, and effective risk mitigants. ICIEC’s Shariah-compliant solutions help governments, financial institutions, and investors move from ambition to implementation and execution. Through strong partnerships with public and private sector institutions, ICIEC is helping mobilise capital for strategic sectors, reduce perceived and actual risks, and support sustainable growth across Member States and beyond.” 

The discussion underscored that Regional Prosperity requires more than connectivity and project pipelines. It requires a coordinated ecosystem in which governments, financial institutions, insurers, investors, and development partners work together to manage risk, mobilise finance, and deliver tangible development outcomes. 

The session reinforced ICIEC’s role as a catalyst for trade, investment, and sustainable development through Shariah-compliant risk mitigation solutions, partnership-building, and support for investment-ready projects across Member States. It also highlighted how tailored risk mitigation solutions can help Azerbaijan deepen regional economic integration, attract sustainable investment, and strengthen its position as a key hub for cross-border trade and connectivity. 

ICIEC signed an amended Memorandum of Understanding (MoU) with Nippon Export and Investment Insurance (NEXI), Japan’s official Export Credit Agency. The signing ceremony was held in Tokyo on August 18, 2025, during a bilateral meeting between Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, and Mr. Atsuo Kuroda, Chairman and CEO of NEXI.

The amended MoU aims to broaden the scope of cooperation between ICIEC and NEXI, with a particular focus on innovative financing mechanisms such as blended finance. The agreement also seeks to enhance coordination in project development and risk mitigation, leveraging ICIEC’s deep regional expertise and mandate to support investment flows into Member States.

The partnership between ICIEC and NEXI was first formalized in 2019 during TICAD 7, where both parties recognized the urgent need for infrastructure development across the African continent and the potential for Japanese companies to play a catalytic role in that effort. Since then, the collaboration has evolved through several key initiatives, including the establishment of a reinsurance framework, the launch of a dedicated Japan Desk within ICIEC to facilitate engagement with Japanese enterprises, and joint support for strategic projects such as the Gas Power Plant Construction Project in Turkmenistan.

This renewed MoU coincides with the Ninth Tokyo International Conference on African Development (TICAD 9) in Yokohama and reflects the shared commitment of both institutions to advancing sustainable development and investment in Africa and other ICIEC Member States.

Commenting on the occasion, Dr. Khalid Khalafalla, CEO of ICIEC, stated: “This renewed MoU with NEXI marks a significant milestone in our enduring partnership. By expanding our collaboration framework, we are better positioned to support transformative projects in our Member States. We look forward to working closely with NEXI to mobilise financing, de-risk infrastructure initiatives, and foster inclusive growth across our Member States.”

Astana – 12 May 2026 – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and Oesterreichische Kontrollbank Aktiengesellschaft (OeKB), acting as agent of the Republic of Austria under the Export Guarantees Act, are pleased to announce  the signing of a Framework Reinsurance Agreement designed to expand capacity and enhance risk-sharing for eligible export credit and investment insurance transactions. The agreement was signed during the 2026 Spring Meeting of the Berne Union, hosted by KazakhExport in Astana from 11 to 14 May 2026.

Under the agreement, ICIEC will provide facultative reinsurance on a case-by-case basis for OeKB-supported insurance facilities. The arrangement will help enhance support for Austrian exporters, lenders, and investors undertaking transactions with counterparties in ICIEC Member States, while contributing to the mobilisation of trade, investment, and development-oriented projects across key markets.

The reinsurance arrangement applies to the principal portion of covered credit exposures, with participation levels to be mutually agreed and documented for each transaction. By combining OeKB’s export credit insurance expertise with ICIEC’s multilateral mandate and deep understanding of risks across its Member States, the agreement will help unlock additional capacity for transactions that support economic connectivity, private sector development, and sustainable growth.

Commenting on the signing, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said:

“Building on the reinsurance agreement signed between ICIEC and OeKB in 2023, this Framework Reinsurance Agreement marks another important step in deepening our institutional cooperation. It provides a practical platform to expand reinsurance capacity, enhance risk-sharing, and support eligible export credit and investment insurance transactions involving Austria and ICIEC Member States. Through this partnership, ICIEC will continue to help mitigate risks, mobilise trade and investment, and support transactions that contribute to sustainable economic growth and development impact across our Member States.”

Gerhard Kinzelberger, Senior Director, International Relations & Country Analysis, said: “Many member countries of ICIEC are dynamically growing, interesting markets for Austrian export companies. We are therefore very pleased about the conclusion of this reinsurance agreement, with which we can support Austrian exporters in OIC member states even better in their projects and investments”

Through this Framework Reinsurance Agreement, ICIEC and OeKB are establishing a stronger platform for cooperation that can support eligible transactions, expand insurance capacity, and contribute to increased trade and investment flows between Austria and ICIEC Member States. The agreement also underscores the role of reinsurance partnerships in enabling risk mitigation, strengthening market confidence, and supporting sustainable economic development.

Jeddah – 01 May 2026 – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, is pleased to host a high-level Panel Discussion (HLPD) during the Private Sector Forum of the 2026 IsDB Group Annual Meetings in Baku, Azerbaijan, under the theme “De-Risking Trade & Investment for Regional Prosperity,” which will be held on Thursday, 18 June 2026, from 10:00 to 11:00.

The session will bring together government officials, financial institutions, export credit agencies, investors, and development partners to discuss how risk mitigation solutions can mobilize private capital, strengthen regional integration, and support sustainable growth across Azerbaijan and the wider OIC region.

With Azerbaijan’s strategic location between Europe and Asia, and its growing role in connectivity, logistics, renewable energy, infrastructure, and non-oil economic diversification, the HLPD will highlight practical opportunities for de-risked investment and cross-border cooperation. The discussion will also showcase how ICIEC’s Shariah-compliant political risk insurance and credit enhancement solutions can help address investment barriers, enhance investor confidence, and unlock financing for priority development projects.

ICIEC’s CEO, Dr. Khalid Khalafalla, stated, “This high-level panel discussion is an important platform to advance dialogue and partnerships around regional integration. Through its risk mitigation solutions, ICIEC helps turn investment opportunities into bankable projects that support trade, investment, and sustainable development across Member States.”

Amman, 21 April 2026 – The United Nations Development Programme (UNDP), has signed a Joint Statement of Intent with the Islamic Corporation for the Development of the Private Sector (ICD) and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) —both members of the Islamic Development Bank (IsDB) Group—introducing a new blended finance structure that leverages credit insurance to catalyze private investment in climate-smart sectors.

This partnership will unlock capital for green small and medium-sized enterprises (SMEs) and support national efforts to achieve climate and sustainable development goals across the Arab States region. It will support financing across a broad range of sustainability-related areas, including climate change mitigation and energy transition, climate adaptation and resilience, sustainable water usage and governance, circular economy and management, sustainable agriculture and food systems and other green finance sectors.

“Across our region, SMEs are the backbone of economies and helping them grow and innovate is critical to strengthening economic resilience and climate ambition,” said Abdallah Al Dardari, UN Assistant Secretary General and Director of UNDP’s Regional Bureau for Arab States. “Through this new partnership we will work closely with regional financial institutions to expand SMEs access to green finance, to accelerate inclusive, climate-resilient development in line with UNDP’s flagship Green Finance Platform.”

In countries benefiting from the new partnership, ICD will provide financing facilities to partner banks and financial institutions while ICIEC will offer comprehensive credit insurance and risk-sharing solutions to encourage financial institutions to expand financing to green sectors, in addition to leveraging reinsurance partnerships to enhance the facility’s capacity and long-term sustainability.

"By uniting ICIEC's risk mitigation, ICD's financing, and UNDP's development network, we are creating a scalable engine for green private sector growth,” stressed Mohammad Asheque Moyeed, Acting Director, Banking Department at ICD. “This partnership is our shared commitment to building a more inclusive and sustainable future for SMEs across our member countries."

"Our role in this partnership is to unlock capital for the SMEs driving a greener, more diversified economy,” explained Yasser Alaki, Director of Business Development, ICIEC. “Through our credit insurance solutions, ICIEC provides the essential risk assurance that enables financial institutions to confidently channel financing toward this vital growth sector."

Serving as a convener of the partnership, UNDP will facilitate linkages between financial institutions and SMEs engaged in its programmes and will coordinate joint efforts to mobilize resources to lower the cost of risk-sharing mechanisms.

Jeddah – 19 April 2026 – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, is pleased to announce that S&P Global Ratings has affirmed its long-term issuer credit and financial strength ratings at ‘AA-’ with a Stable Outlook for the third consecutive year, maintaining ICIEC’s position among the highest-rated peer institutions globally.

The reaffirmation reflects ICIEC’s strong credit fundamentals, underpinned by solid financial strength, a low-risk profile, and S&P’s confidence in its robust capital adequacy, sound risk management framework, exceptional liquidity, and sustained financial performance. S&P has maintained ICIEC’s Enterprise Risk Profile at strong (A+) and Financial Risk Profile at very strong (up to AA+), supported by capital adequacy at the 99.99% confidence level, prudent governance, strong shareholder support, and Preferred Creditor Treatment (PCT). The overall rating of ‘AA-’ is based on the combined strength of these profiles. Stable Outlook reflects expectations of continued mandate-driven growth while maintaining strong capital and liquidity positions.

S&P further noted that ICIEC’s exposure to ongoing Middle East geopolitical developments remains limited and well-diversified, with strong capital buffers and reinsurance support sufficient to absorb potential volatility and claims. The Corporation’s business prospects remain resilient, supported by core markets across Africa, Asia, and Central Asia, particularly within the PCT-backed investment guarantee segment.

ICIEC extends its sincere appreciation to its Member Countries, the Chairman and members of the Board of Directors, and all stakeholders for their continued support, as well as to its dedicated staff members.

This reaffirmation underscores ICIEC’s financial strength, robust risk management, and institutional resilience, reinforcing its commitment to supporting sustainable economic development across its Member States while further strengthening its global standing. It also reinforces continued confidence among global partners, including policyholders, financial institutions, export credit agencies, and particularly reinsurance partners, in ICIEC as a reliable and trusted low-risk multilateral counterparty.

Lagos, Nigeria, 30 March 2026 — The Islamic Development Bank (IsDB) Group successfully concluded the IsDB Group Day in Nigeria on 30 March 2026, bringing together senior government officials, private sector leaders, financial institutions, chambers of commerce, development partners, and international stakeholders to strengthen collaboration, promote investment, and enhance private sector–led growth in Nigeria.

The high-level event underscored Nigeria’s strategic importance as Africa’s largest economy and highlighted the critical role of private sector engagement in addressing key development challenges, including infrastructure gaps, youth and women unemployment, limited access to finance for small and medium-sized enterprises (SMEs), and the transition toward a more diversified and sustainable economy.

The IsDB Group Day served as a strategic platform to present the Group’s comprehensive range of services and solutions in investment, trade finance, insurance, Islamic finance, and capacity building.

The event facilitated dialogue amongst policymakers, investors, entrepreneurs, and development partners, fostering meaningful engagement and the exploration of practical business and investment opportunities.

In his keynote address, H.E. Mr. Wale Edun, the Minister of Finance and coordinating Minister of the Economy of the Federal Republic of Nigeria stated:

"As Nigeria transitions from economic stabilization to a period of robust expansion in 2026, our focus is firmly set on Growth Acceleration and Investment Mobilization. This journey toward a $1 Trillion economy by 2030 requires 'capital with purpose'—investments that bridge the gap between financial stability and tangible social outcomes. Through our strategic partnership with the Islamic Development Bank (IsDB) and the implementation of the Country Engagement Framework 2026-2028, we are modernizing our infrastructure, industrializing our agribusiness, and bringing 10 million Nigerians into productive economic activity. By leveraging innovative instruments like Sukuk, we are not just financing projects; we are building a Nigeria that is resilient by design, inclusive by nature, and a premier destination for global investment."

The IsDB Group Head of Delegation underscored: “The CEF marks a new era of strategic synergy, moving beyond isolated interventions to deliver integrated, federal-scale solutions. We are aligning our institutional resources to support Nigeria’s transition toward a diversified, high-growth economy—one where the private sector serves as the fundamental engine of development.”

He further emphasized that through this partnership, the Group remains dedicated to accelerating the delivery of integrated transformative solutions that foster national resilience and competitive industrialization.

One of the main features of the program was a panel discussion on Nigeria’s development priorities and the role of IsDB Group in formulating practical avenues of cooperation and forging strategic partnerships to support Nigeria’s path towards sustainable and inclusive development.

The discussions during the IsDB Group Day were closely aligned with Nigeria’s future development vision, which focuses on building a diversified, inclusive, and resilient economy driven by private sector–led growth. Emphasis was placed on expanding access to finance for SMEs, strengthening public–private partnerships, advancing renewable energy and green infrastructure, and investing in human capital to unlock opportunities for youth and women.

These priorities reflect Nigeria’s commitment to sustainable development, economic diversification, and deeper regional integration through trade and investment.

A series of bilateral (B2B and B2G) meetings were held amongst representatives of the IsDB Group, business leaders, investors, and financial institutions to explore opportunities for cooperation and partnerships with the Islamic Development Bank Group. Inspiring success stories implemented in Nigeria in partnership with local entrepreneurs as well as local and international institutions were also presented.

The event also highlighted the activities, services, and initiatives of IsDB Group institutions, including the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance Corporation (ITFC), the Islamic Development Bank Institute (IsDBI), and the Islamic Development Bank Group Business Forum (THIQAH).

The day concluded with a reaffirmation of the Islamic Development Bank Group's commitment to continued cooperation  with the Nigerian government and the country’s private sector to further build strategic partnerships, expand investment opportunities, and enhance the business environment, thereby contributing to the achievement of sustainable development in Nigeria.

N’Djamena, Chad, 26 January 2026 – The Islamic Development Bank Group hosted IsDB Day in Chad on Monday, deepening cooperation with the Central African nation.

The event follows the successful launch of “Chad Connection 2030” in Abu Dhabi a few months ago, which signaled IsDB's commitment to support development projects aligned with Chad's National Development Plan.

Chad's Prime Minister Allamaye Halina attended the January 26 event in N'Djamena, organized in partnership with the Ministry of Finance, Budget, Economy, Planning and International Cooperation.

Dr. Issa Faye led the IsDB Group delegation, representing IsDB President Dr. Muhammad Al Jasser. Cabinet ministers, senior officials and representatives from regional financial institutions and private companies also participated.

The event aimed to deepen cooperation and align IsDB Group support with Chad's National Development Plan.

H.E. Allamaye Halina, Prime Minister of the Republic of Chad, stated: "Chad is entering a phase where translating vision into concrete projects is essential. The Islamic Development Bank Group is a trusted partner in this effort, particularly in strengthening financial implementation, capacity building and mobilising investment that deliver tangible impact for our population."

H.E. Tahir Hamid Nguilin, Minister of Finance, Budget, Economy, Planning and International Cooperation of the Republic of Chad, stressed the following: “Our priority is to boot trade through coherence between public policy, effective financing mechanisms and private sector mobilisation. The IsDB plays a key role in supporting this approach, notably through project structuring, risk mitigation instruments and blended financing solutions”.

Dr. Issa Faye, IsDB Director General for Global Practices and Partnerships, and Group Head of Delegation, stated: “The IsDB Group’s commitment to Chad is focused on delivering integrated solutions that combine financing and technical assistance. During the country engagement dialogue, IsDB team, in conjunction with relevant authorities will explore all available solutions from both public and private sector sources  to ensure that the co-created  development solutions are holistic. Through closer coordination with national authorities and local stakeholders, we aim to accelerate project delivery, building resilience and support high-impact initiatives aligned with  Chad Connection 2030. particularly in agriculture, technology and infrastructure.”

One of the main features of the program was a panel discussion on Chad’s development priorities and the role of IsDB Group, aimed at formulating practical avenues of cooperation and forging strategic partnerships to support Chad’s path towards sustainable and inclusive development.

A series of bilateral (B2B and B2G) meetings were held amongst representatives of the IsDB Group, business leaders, investors, and financial institutions to explore opportunities for cooperation and partnerships with the Islamic Development Bank Group. Inspiring success stories implemented in Chad in partnership with local entrepreneurs as well as local and international institutions were presented

The event also highlighted the activities, services, and initiatives of IsDB Group institutions, including the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance Corporation (ITFC), the Islamic Development Bank Institute (IsDBI), and the Islamic Development Bank Group Business Forum (THIQAH).

The day concluded with a reaffirmation of the Islamic Development Bank Group's commitment to continue working with the Chadian government and the country’s private sector to further build strategic partnerships, expand investment opportunities, and enhance the business environment, thereby contributing to the achievement of sustainable development in Chad.