Republic of Sierra Leone Becomes 51st Member of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Strengthening West Africa’s Trade & Investment Linkages
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, is pleased to announce the accession of the Republic of Sierra Leone as its 51st Member Country.
This milestone marks ICIEC’s expanding presence in Sub-Saharan Africa and underscores Sierra Leone’s commitment to strengthening its trade and investment partnerships through multilateral cooperation. As a Member, Sierra Leone will gain access to ICIEC’s Shariah-compliant insurance and reinsurance solutions designed to facilitate exports, attract foreign direct investment, and mitigate political and commercial risks.
Welcoming Sierra Leone’s membership, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, stated: “We are delighted to welcome the Republic of Sierra Leone into the ICIEC membership. This accession reflects both the growing recognition of ICIEC’s developmental mandate and Sierra Leone’s vision to build a more resilient and diversified economy. We look forward to supporting the country in mobilizing investments, enhancing export competitiveness, and creating new opportunities for its public and private sectors.”
With Sierra Leone’s membership, ICIEC now counts 51 Member Countries reinforcing its role as a leading multilateral provider of Shariah-compliant insurance and risk-mitigation solutions in support of the Organization of Islamic Cooperation (OIC) economies.
Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
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About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC):
As a member of the Islamic Development Bank (IsDB) Group, ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is the only Islamic multilateral insurer in the world. It has led from the front to deliver a comprehensive suite of solutions to counterparts in its 50 Member States. ICIEC, for the 18th consecutive year, maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) industry. Additionally, S&P has reaffirmed ‘ICIEC’s “AA-“long-term Issuer Credit and Financial Strength Rating for the second year with a stable outlook. ICIEC’s resilience is underpinned by its sound underwriting, global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors—energy, manufacturing, infrastructure, healthcare, and agriculture.
For more information, Visit http://ICIEC.IsDB.org
