Institution details
ICIEC - The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
Key facts
- Established in 1994
- Ownership: Public
Not Part of the OECD
Not part of the Berne Union
- PO Box 15722
- +966 2 644 5666
- http://www.iciec.com
Latest update: 03/12/2021
| rating type | rating agency | type | rating |
|---|---|---|---|
| Institution rating | Moody's | Foreign currency | Aa3 |
Products
- Insurance
Insurance
- Credit insurance
- Tenor: Up to 7 years - Investment insurance
- Tenor: Up to 20 years - Export credit and investment reinsurance: Provides capacity building support for ECAs in member countries, and technical assistance in the establishment of ECAs in member countries
- Tenor: 1 year for short-term; 7 years for medium-term; 20 years for foreign investment
- Covers commercial and political risk
Performance highlights
What's new?
- ICIEC won the Global Islamic Finance Award (GIFA), one of the most prestigious Islamic finance awards programs in the world, in the Global Islamic Export Credit and Political Risk Insurance 2018 award category
- ICIEC and Etihad Credit Insurance (ECI), the UAE’s export credit company, signed a MOU to boost cooperation in promoting export trade and investment in the UAE through the promotion of Shariah-compliant export credit and investment insurance instruments
- All operations of ICIEC are in accordance with Islamic Shariah
- All regulations, rules, policies, and all other insurance instruments are subject to close scrutiny, before their coming into force, by the Single Shariah committee of the Islamic Development Bank Group (IDB) which also acts as the Shariah committee of ICIEC