Baku, Republic of Azerbaijan – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group and a multilateral institution that provides Sharia-compliant export credit and investment risk insurance solutions, concluded its participation in the 2026 Annual Meetings of the Islamic Development Bank Group in Baku by signing seven agreements, memoranda of understanding and insurance policies worth more than US$1 billion .

The annual meetings, held from June 16 to 19 under the theme “Regional Integration for Sustainable Prosperity”, formed a strategic platform for the organization to strengthen its partnerships, support bankable projects, and consolidate its role in enabling trade and investment across its 51 member countries .

During the 14th Private Sector Forum of the Islamic Development Bank Group, Dr. Khaled Yousef Khalafallah, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit, participated as a speaker in the CEOs' session entitled "Making Regional Integration Investable." The session focused on how the Islamic Development Bank Group can provide integrated solutions combining trade facilitation, investment structuring, and risk mitigation tools to transform regional integration aspirations into scalable and bankable opportunities .

Following the CEO session, the organization hosted its high-level dialogue session entitled “Mitigating Trade and Investment Risks for Regional Prosperity.” The session brought together approximately 300 participants, including senior Azerbaijani officials, business leaders, investors, development finance institutions, export credit agencies, insurance companies, and trade promotion organizations .

The discussions highlighted Azerbaijan's role as a strategic regional hub connecting Central Asia, the South Caucasus, Turkey, Europe, and the wider OIC region. The session also addressed how Sharia-compliant risk management tools can contribute to mobilizing cross-border capital, enhancing investor confidence, and supporting sustainable development in member states .

The agreements signed during the Private Sector Forum covered key areas including infrastructure, trade finance, export development, banking cooperation, and investment facilitation. They also included support for strategic transactions in Nigeria, Turkey, Uganda, and other member countries, as well as partnerships with financial institutions aimed at expanding access to Sharia-compliant risk mitigation and trade finance solutions .

Commenting on the Corporation’s participation, Dr. Khaled Yousef Khalafallah said: “The Corporation’s achievements in Baku reflect the vital role of mitigating risks in transforming regional integration ambitions into bankable opportunities. The agreements concluded during the Annual Meetings will contribute to supporting the implementation of infrastructure projects, enhancing trade flows, mobilizing investments, and supporting the growth of the private sector in our member countries. The Corporation remains committed to providing the necessary confidence and protection to move strategic projects from the idea stage to the implementation stage .”

Throughout the annual meetings, the organization held more than 80 bilateral meetings between companies and between companies and governments, with stakeholders from more than 60 countries, strengthening its engagement with governments, financial institutions, investors, exporters and private sector leaders .

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) also presented awards to outstanding institutions and initiatives in recognition of their contributions to trade, investment, and sustainable development. This year, ICIEC honored First Abu Dhabi Bank, Standard Chartered, and Agrobank for their outstanding infrastructure and trade finance transactions, which demonstrated the impact of effective partnerships and risk mitigation in achieving tangible development outcomes.

To mark the annual meetings, the institution also released a special issue entitled “Corridors of Opportunity: From Azerbaijan to Central Asia, Enabling Bankable Implementation Through Risk Mitigation.” The issue highlighted Azerbaijan’s growing role as a gateway connecting Central Asia, the South Caucasus, Turkey, Europe, and the wider Islamic world. It also included insights on trade corridors, Islamic finance, export credit insurance, investment protection, and the role of risk mitigation in supporting sustainable growth .

The results achieved by the institution in Baku confirm its commitment to continue working with member states, financial institutions, investors and development partners to mitigate risks to strategic projects, expand cross-border trade and promote sustainable prosperity in the OIC region and beyond.

About the Islamic Corporation for the Insurance of Investment and Export Credit

As a member of the Islamic Development Bank Group, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) commenced operations in 1994 with the aim of strengthening economic ties between member countries of the Organization of Islamic Cooperation (OIC) and the rest of the world, and promoting intra-regional trade and investment by providing effective risk mitigation tools and Sharia-compliant financial solutions. ICIEC is the only multilateral entity in the world offering Islamic insurance and reinsurance services . It has been a pioneer in introducing a comprehensive suite of innovative solutions to support businesses and institutions in its 51 member countries. For the 18th consecutive year, ICIEC has maintained its Aa3 insurance financial strength rating from Moody’s, placing it among the world’s leading credit and political risk insurers. For the third consecutive year, Standard & Poor’s has affirmed ICIEC’s long-term credit rating and financial strength rating at AA- with a stable outlook . ICIEC’s strength is underpinned by a sound underwriting approach, a robust global reinsurance network, and well-established risk management policies. To date, the total value of transactions secured by the institution has reached more than US$ 138 billion in the areas of trade and investment, and its activities cover vital sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture.

For more information, please visit the website: http://iciec.isdb.org
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Email: ICIEC-Communication@isdb.org

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