Jeddah, Kingdom of Saudi Arabia – The  AMAN UNION , the leading professional forum for commercial and non-commercial insurance and reinsurance companies across the member states of the Organization of Islamic Cooperation (OIC), announced the winners of the  2025 4th AMAN Union Awards  during the  15th AMAN Union Annual General Meeting , graciously hosted by the  Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group. The announcement was made by Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC.

The AMAN Union Awards celebrate outstanding achievements and contributions among member institutions and professionals within the export credit, investment, and trade insurance sectors. The awards aim to recognize excellence, encourage innovation, and promote best practices that strengthen institutional capacity and foster sustainable development across the AMAN Union community.

The Exceptional Performance Award honors initiatives that exemplify excellence in operational performance, institutional development, and contribution to AMAN Union’s overarching objectives.

Following a comprehensive evaluation process, the jury selected Saudi Eximbank as the recipient of the 2025 Exceptional Performance Award. The Saudi Eximbank graduate program was recognized for its pioneering and scalable model that enhances institutional capacity, drives business growth, and contributes to social and economic development within member countries.

 “The Export Pioneers Graduate Program reflects the very essence of what the AMAN Union stands for—collaboration, innovation, and capacity-building. By empowering the next generation of professionals and strengthening the export ecosystem, such initiatives contribute directly to the sustainable growth of our member countries and reinforce our mission to support inclusive and resilient development.” said Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC

The Best Research Paper or Thesis of the Year Award recognizes exceptional academic and professional research that advances thought leadership in export credit, investment, and trade finance. This year, the jury selected Jordan Loan Guarantee Corporation (JLGC) as the winner of the 2025 Best Research Paper or Thesis of the Year Award. The winning research was commended for its innovative and timely contribution to the evolving landscape of sustainable finance, offering actionable insights that align with AMAN Union’s mission to foster sustainable economic growth and resilience across member states.

Commenting on this award, Mr. Mourad Mizouri, Secretary-General of AMAN Union “The recognition of this research underscores AMAN Union’s commitment to promoting evidence-based policymaking and knowledge sharing. Encouraging research and thought leadership is key to building stronger, more agile institutions capable of addressing emerging global challenges and opportunities.”

The 2025 AMAN Union Awards reaffirm the Union’s collective dedication to excellence, innovation, and sustainable growth across the export credit and investment insurance ecosystem. Through these awards, AMAN Union continues to recognize and inspire initiatives that advance its mission of promoting economic cooperation and resilience among OIC member states.

Jeddah, Kingdom of Saudi Arabia – The AMAN Union, the leading professional forum for commercial and non-commercial insurance and reinsurance companies across the member states of the Organization of Islamic Cooperation (OIC), showcased the key findings of its Technical Performance Analysis for 2023–2024, prepared and presented by Türk Eximbank, during the 15th Annual Meeting of the Aman Union, hosted by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) in Jeddah.

The presentation highlighted the continued growth and resilience of the AMAN UNION Full members, underscoring their collective contribution to enhancing trade facilitation and risk management across OIC Member States.

According to the analysis, total insured business among Aman Union full members reached USD 54 billion in 2024, representing a 10% increase compared to the previous year. Premium volumes also expanded by 20%, amounting to USD 338 million, reflecting strong underwriting performance and increased demand for export credit and investment insurance solutions.

Meanwhile, claims paid by member ECAs decreased by 21%, indicating improved portfolio quality and risk mitigation measures. The total number of policyholders rose to 10,000—an 8% annual increase—while the number of buyers insured reached 110,000, growing by 9% year-on-year.

The analysis further revealed that Türk Eximbank, ICIEC, and Saudi EXIM accounted for 87% of total short-term export business insured across the Union, while ICIEC led in investment insurance activities. These results reaffirm the pivotal role of Aman Union members in supporting regional trade, export diversification, and sustainable economic growth.

Speaking on behalf of the Aman Union Secretariat, Ms. Neslihan Diniz, Manager of International Relations at Türk Eximbank, emphasized the importance of continued collaboration and data transparency among members to strengthen institutional capacity and performance benchmarking within the Union.

The Technical Performance Analysis serves as a vital monitoring tool to assess members’ operational trends, identify growth opportunities, and promote exchange of best practices in the field of credit and investment insurance. Its findings contribute to the Union’s broader objective of fostering cooperation, innovation, and sustainable development among its 17 full members.

Jeddah, Kingdom of Saudi Arabia — AMAN UNION General Secretariat, and the Saudi Export-Import Bank (Saudi EXIM Bank) have signed a Transfer Agreement outlining the framework for transferring the tasks and functions of the General Secretariat of the AMAN Union from AMAN UNION General Secretariat to Saudi EXIM Bank.

The agreement was signed by Mr. Mourad Mizouri, Secretary General of AMAN UNION, and Mr. Naif bin Othman Alajroush, Director General of International & Government Relations at Saudi EXIM. The signing took place on the sidelines of the 15th Annual General Meeting of the AMAN Union, held from November 4–6, 2025, in Jeddah and hosted by ICIEC. The gathering brought together leading professionals and experts in credit and investment insurance to explore strategies for promoting trade, mitigating risks, and strengthening regional economic integration.

Under this agreement, AMAN UNION Secretariat General and Saudi EXIM Bank will cooperate to ensure the smooth transfer of the Union’s duties, responsibilities, records, assets, and the institutional functions of the General Secretariat. This milestone reflects both institutions’ shared commitment to reinforcing the AMAN Union’s capacity and advancing its long-term vision.

Mr. Mourad Mizouri, AMAN UNION Secretary General, stated, “This transition marks an important step in enhancing the operational independence and sustainability of the AMAN Union. The AMAN UNION members remain committed to supporting the Union’s mission of fostering collaboration among them.”

Jeddah, Kingdom of Saudi Arabia — [November 3, 2025]—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, has maintained its Aa3 Insurance Financial Strength Rating (IFSR) following Moody’s Ratings’ completion of its periodic review of the Corporation. The reaffirmation reflects Moody’s continued confidence in ICIEC’s strong financial foundation, prudent risk management, and strategic development mandate.

The announcement follows a rating committee meeting held on 16 October 2025, where Moody’s highlighted the ongoing improvement in ICIEC’s standalone credit profile, underpinned by enhanced risk management practices, improved underwriting performance; and strong asset quality supported by a highly liquid investment portfolio. The Corporation’s robust capital adequacy, further reinforced by its preferred creditor status among Member Countries.

The Aa3 rating continues to benefit from the strong institutional and shareholder support of the “AAA/Aaa”- rated Islamic Development Bank (IsDB) and sovereign Member Countries, including the Kingdom of Saudi Arabia (Aa3).

Commenting on Moody’s announcement, Dr. Khalid Khalfallah, CEO of ICIEC stated, “Maintaining our Aa3 rating underscores ICIEC’s solid credit profile and our unwavering commitment to delivering Shariah-compliant risk mitigation solutions that facilitate sustainable trade and investment flows across Member Countries.”

While the periodic review does not constitute a rating action, it confirms ICIEC’s continued financial stability and operational resilience. Moody’s detailed credit opinion is expected to be published in the coming weeks.

Jeddah, Kingdom of Saudi Arabia –– The AMAN UNION, the leading professional forum for commercial and non-commercial insurance and reinsurance companies across the member states of the Organization of Islamic Cooperation (OIC), in collaboration with Swiss Re, is hosting an exclusive virtual session titled “ESG Sustainability Risk Management.” The webinar will bring together leading experts to explore the growing importance of Environmental, Social, and Governance (ESG) principles in the insurance and reinsurance industry, particularly in the context of export credit and investment insurance.

This session aims to strengthen the institutional capacity of AMAN UNION members by deepening their understanding of sustainability-related risks and offering practical insights on integrating ESG considerations into underwriting, portfolio management, and corporate strategy. It forms part of AMAN UNION’s continued efforts to support its members in aligning with global best practices and advancing sustainable development objectives across the Islamic finance and insurance ecosystem.

The webinar will feature presentations from Swiss Re’s Senior Sustainability Manager, Maren Bodenschatz, and Sustainability Risk Manager, Ahmed Ayoub, who will provide an in-depth overview of ESG trends shaping the insurance and reinsurance landscape and share practical examples of Swiss Re’s sustainability strategy and risk management frameworks.

Commenting on the event, Mourad Mizouri, Secretary General of AMAN UNION, said: “Sustainability is no longer an optional agenda—it is a defining pillar of resilience, competitiveness, and trust in our industry. Through this collaboration with Swiss Re, we aim to empower our members to better understand and manage ESG risks, strengthen institutional frameworks, and contribute to a more sustainable and inclusive global economy.”

Jeddah, Kingdom of Saudi Arabia – The AMAN Union, the leading professional forum for commercial and non-commercial insurance and reinsurance companies across the member states of the Organization of Islamic Cooperation (OIC), will hold its 15th Annual Meeting from November 4 to 6, 2025.

The event will be hosted by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group, at its headquarters in Jeddah, Kingdom of Saudi Arabia.

The annual meeting will bring together senior professionals and experts in credit and investment insurance, information exchange, collections, and risk management. Participants will engage in in-depth discussions on strategies to strengthen credit insurance, promote trade exchange, develop partnerships, and explore new opportunities to enhance risk management and insurance services in the region — reflecting a shared commitment to fostering regional economic integration.

Dr. Khalid Khalafallah, CEO of ICIEC, stated: "We are honored to host the 15th Annual General Meeting of the AMAN Union in Jeddah. This gathering provides an exceptional platform for institutions and companies specializing in insurance and reinsurance against commercial and non-commercial risks across OIC member states, alongside the Arab Investment and Export Credit Guarantee Corporation (Dhaman), to exchange insights, experiences, and strategies aimed at strengthening credit insurance and trade exchange across Arab and Islamic countries. This year marks the fifteenth anniversary of the Union, which has played a pivotal role in fostering cooperation and innovation, benefiting its members and supporting regional economic integration."

Mr. Mourad Mizouri, Secretary General of the Aman Union, added: "Over the past fifteen years, the General Secretariat has advanced its services and institutional efficiency, supporting members through capacity-building initiatives, knowledge exchange, and specialized events. The AMAN Union has established itself as a premier professional platform, and we are pleased to announce that the General Secretariat will be transferred next year to the Saudi Export-Import Bank. This move marks a new phase of growth and development, further strengthening the Union’s role in promoting economic cooperation and integration among its members.".

The 2025 Annual General Meeting will feature keynote addresses, networking sessions, and specialized committee's meetings. Discussions will address key topics such as debt structuring, export credit, risk management, and the integration of artificial intelligence in the insurance sector. Participants will also examine the critical role of credit information in mitigating risks and optimizing trade credit recovery.

This event presents a unique opportunity for participants to engage with industry leaders, gain insights into emerging market trends, and identify innovative solutions to the sector’s challenges.

The AMAN Union remains steadfast in its commitment to promoting best practices, good governance, and capacity-building initiatives, thereby contributing to the sustainable development of the risk insurance industry across its member states.

Jeddah — [23 September 2025] Tripoli, Libya —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, announced the signing of a facultative reinsurance agreement with Takaful Libya during the IsDB Group Day in Libya scheduled on 23 September 2025. The agreement enhances Takaful Libya’s capacity to underwrite Shariah-compliant export credit risks, thereby supporting the growth of Libyan exporters and contributing to the country’s economic recovery.

Under the arrangement, ICIEC will provide facultative reinsurance to selected export transactions insured by Takaful Libya. This will enable Takaful Libya to extend broader coverage to exporting companies and banks involved in cross-border trade, strengthening their resilience against payment risks and facilitating access to new markets.

“This agreement reflects ICIEC’s mandate to de-risk trade across our Member States by empowering local partners,” said Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC. “By extending export credit reinsurance capacity and know-how to Takaful Libya, we will help Libyan exporters safeguard their receivables, strengthen their competitiveness in global markets, and contribute to rebuilding national trade flows in line with the development of Libyan external trade.” he added.

"There is no doubt that the services provided by ICIEC are of immense importance in supporting the economic development of member countries. One of the Corporation’s key missions is to strengthen and encourage exports by offering vital insurance coverage that empowers businesses to grow beyond borders. For Libya, this agreement represents more than just a financial arrangement—it is a new avenue of opportunity, a platform to boost and promote our exports, and a stepping stone toward greater economic growth. We are confident that this partnership will be a strong pillar in supporting Libya’s development journey, and we look forward to seeing more initiatives of this kind in the future, initiatives that do not only protect our economy but actively drive it forward." Stated Mr. Bashir Ali Khallat, General Manager, Takaful Insurance Company.

The partnership also paves the way for technical collaboration on key areas of underwriting, credit risk assessment, capacity building, and claims management. ICIEC’s support will allow Takaful Libya to strengthen its offerings to corporates and financial institutions while reinforcing prudential requirements.

The signing at IsDB Group Day highlights the Group’s commitment to building partnerships that mobilize trade and unlock opportunities across Member States. ICIEC and Takaful Libya will begin implementing the agreement immediately, with a focus on high-impact export sectors aligned with Libya’s national priorities.

Beijing, China — September 17, 2025. 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 China Export & Credit Insurance Corporation (Sinosure) recently signed a Memorandum of Understanding at Sinosure's Beijing headquarters to expand cooperation in de-risking cross-border trade and mobilizing investment between China and ICIEC Member States, in alignment with national priorities of ICIEC’s Member States and the Belt and Road Initiative.

The MoU was signed by Dr. Khalid Khalafalla, CEO of ICIEC, and Mr. Sheng Hetai, President and Vice Chairman of Sinosure. The MoU aims to expand collaboration in risk management solutions including export credit insurance, political risk insurance, and investment protection, to facilitate cross border trade and investment flows.

The partnership frames collaboration in co-insurance and reinsurance for strategic transactions, coordinated underwriting and risk assessment, information exchange, and joint development of a pipeline across infrastructure, energy, transport, manufacturing, healthcare, and digital connectivity. It also envisages SME-oriented trade solutions and offerings aligned with ESG and Shariah principles, supported by knowledge sharing on underwriting, claims, and recoveries.

Dr. Khalid Khalafalla, CEO of ICIEC, said: "This partnership with Sinosure combines complementary strengths to unlock high-impact trade and investment flows between China and ICIEC Member States. By sharing risk and expertise, we can make more projects bankable, channel capital to priority sectors, and deliver sustainable development outcomes across our markets."

Under the new partnership framework, ICIEC and Sinosure will collaborate on co-insurance and reinsurance for strategic transactions, the joint development of risk-coverage solutions, and the exchange of market intelligence to strengthen underwriting and risk-management capabilities. The partnership will also advance capacity building and the facilitation of China’s outward investments into ICIEC Member States, cultivating a pipeline of projects in infrastructure, energy, transport, manufacturing, healthcare, and digital connectivity to drive sustainable growth and regional integration.

Tokyo—[19 August 2025] 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 the signing of 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 countries.

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 countries.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 collaborative framework, we are better positioned to support transformative projects in our 50 Member Countries. We look forward to working closely with NEXI to mobilize financing, de-risk infrastructure initiatives, and foster inclusive growth across our member states”.

Jeddah – 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 Al Baraka Islamic Bank BSC Bahrain signed a Documentary Credit Insurance Policy (DCIP). The policy aims to strengthen support for Shariah-compliant trade finance, enabling greater security and confidence in the international trade ecosystem.

The agreement was signed by Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, and Dr. Adel Salem, Chief Executive Officer of Al Baraka Islamic Bank BSC Bahrain, in a joint effort to enhance the capacity of Islamic financial institutions to manage trade-related risks more effectively.

Under this partnership, ICIEC will provide insurance coverage for the confirmation of Letters of Credit (LCs) issued by Al Baraka Islamic Bank in connection with the import and export of eligible Shariah-compliant goods and services. This solution will help mitigate payment risks associated with cross-border trade while promoting sustainable growth in ICIEC’s member states.

Dr. Khalid Khalafalla, CEO of ICIEC, stated: “This strategic collaboration with Al Baraka Islamic Bank reflects ICIEC’s unwavering commitment to advancing intra-OIC trade and investment. By supporting Shariah-compliant trade finance through our Documentary Credit Insurance Policy, we are facilitating secure trade flows while empowering Islamic banks to broaden their offerings to clients. This partnership demonstrates the power of multilateral cooperation in achieving shared development goals.”

For his part, Dr. Adel Salem, CEO of Al Baraka Islamic Bank BSC Bahrain, stated: “We are delighted to partner with ICIEC on this pioneering Credit Insurance Policy, which empowers us to extend Shariah‑compliant trade finance to our clients, bolster Bahrain’s role as a regional hub for Islamic banking, and stimulate sustainable economic growth across member states worldwide. This collaboration underscores our unwavering commitment to innovation and robust risk management, giving the businesses we serve greater confidence to expand in global markets.”

The DCIP serves as a vital tool for Islamic banks, enhancing their ability to expand trade finance operations with reduced exposure to commercial and political risks. The policy also complements ICIEC’s broader mandate to promote economic resilience, financial inclusion, and private sector development in member countries.

Both institutions reaffirmed their shared dedication to expanding the reach of Islamic finance, strengthening risk mitigation tools, and contributing to inclusive and sustainable economic development.