The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and KazakhExport Renew Quota-Share Treaty Agreement for 2025–2026
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and KazakhExport, the Export Credit Agency of the Republic of Kazakhstan, have renewed their Quota-Share Treaty Reinsurance Agreement for the fifth consecutive year, covering the period from 1 October 2025 to 30 September 2026.
The agreement was signed by Dr. Khalid Khalafallah, Chief Executive Officer (CEO) of ICIEC, and Mrs. Ayan Bektybayeva, Deputy Chairman of the Board of KazakhExport, on the sidelines of the 15th Annual Meeting of the AMAN Union, held from 4–6 November 2025 in Jeddah.
This renewal reaffirms the long-standing partnership between the two institutions in advancing trade, investment, and economic cooperation among Organization of Islamic Cooperation (OIC) member states.
Under the agreement, ICIEC will continue to provide reinsurance coverage for KazakhExport’s Documentary Credit Insurance Policy (DCIP), enabling the agency to expand its underwriting capacity for trade-finance risks, particularly in high-impact sectors that drive export diversification and support small and medium-sized enterprises (SMEs).
The renewed partnership underscores ICIEC’s strategic role in delivering risk capacity, technical support, and knowledge transfer to member Export Credit Agencies (ECAs), while reinforcing Kazakhstan’s commitment to strengthening non-oil exports under the institutional framework of Baiterek National Managing Holding JSC.
Dr. Khalid Khalafallah, CEO of ICIEC, commented: “This renewal reflects the depth of our partnership with KazakhExport and our shared vision to advance trade and investment across OIC member countries. Through this treaty, ICIEC continues to deliver reinsurance and technical support that empower member ECAs to underwrite larger, more diversified, and more impactful trade transactions.”
Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
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Email: ICIEC-Communication@isdb.org
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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 https://ICIEC.IsDB.org.
