ICIEC Concludes IsDB Group Annual Meetings 2026 in Baku, Securing Seven Agreements Exceeding USD 1 Billion
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral credit and political risk insurer and a member of the Islamic Development Bank Group, has successfully concluded its participation in the IsDB Group Annual Meetings 2026 held in Baku. The event, which took place from June 16 to 19, resulted in the signing of seven agreements, Memoranda of Understanding, and insurance policies valued at over USD 1 billion.
Strategic Focus on Regional Integration
The Annual Meetings, themed “Regional Integration for Sustainable Prosperity,” served as a vital platform for ICIEC to foster partnerships, support viable projects, and reinforce its role in facilitating trade and investment across its 51 Member States. This gathering highlighted the importance of collaboration among member countries to achieve sustainable economic growth.
During the 14th IsDB Group Private Sector Forum (PSF), Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, participated in a CEOs Session titled “Making Regional Integration Investable.” This session focused on how the IsDB Group can provide integrated solutions by combining trade facilitation, investment structuring, and de-risking instruments to transform regional integration goals into scalable and bankable opportunities.
High-Level Discussions on Trade and Investment
Following the CEOs Session, ICIEC hosted a High-Level Panel Discussion titled “De-Risking Trade & Investment for Regional Prosperity.” This session attracted approximately 300 participants, including senior officials from Azerbaijan, business leaders, investors, development finance institutions, export credit agencies, insurers, and trade promotion organizations. The discussion emphasized Azerbaijan’s strategic role as a regional hub connecting Central Asia, the South Caucasus, Türkiye, Europe, and the broader OIC region. It also explored how Shariah-compliant risk management instruments can facilitate cross-border capital flows, enhance investor confidence, and support sustainable development across Member Countries.
The agreements signed during the PSF encompassed critical areas such as infrastructure, trade finance, export development, banking cooperation, and investment facilitation. They included support for strategic transactions in Nigeria, Türkiye, Uganda, and other Member Countries, alongside partnerships with financial institutions aimed at broadening access to Shariah-compliant risk mitigation and trade finance solutions.
ICIEC’s Commitment to Risk Mitigation
Dr. Khalid Khalafalla remarked on ICIEC’s achievements in Baku, stating, “ICIEC’s accomplishments in Baku demonstrate the vital role of risk mitigation in transforming regional integration ambitions into bankable opportunities. The agreements concluded during the Annual Meetings will bolster infrastructure delivery, trade flows, investment mobilization, and private sector growth across our Member States. ICIEC remains dedicated to providing the confidence and protection necessary to advance strategic projects from concept to implementation.”
Throughout the Annual Meetings, ICIEC engaged in over 80 B2B and B2G meetings with stakeholders from more than 60 countries, enhancing collaboration with governments, financial institutions, investors, exporters, and private sector leaders.
Recognizing Excellence in Trade and Investment
The ICIEC Awards were presented to recognize outstanding institutions and initiatives for their contributions to trade, investment, and sustainable development. This year, ICIEC honored First Abu Dhabi Bank, Standard Chartered Bank, and Agrobank for their significant infrastructure and trade finance transactions, showcasing the impact of effective partnerships and risk mitigation.
In conjunction with the Annual Meetings, ICIEC released a Special Issue titled “Corridors of Opportunities: From Azerbaijan to Central Asia, Enabling Bankable Delivery Through Risk Mitigation.” This publication underscored Azerbaijan’s growing role as a gateway linking Central Asia, the South Caucasus, Türkiye, Europe, and the wider Islamic world. It featured insights on trade corridors, Islamic finance, export credit insurance, investment protection, and the significance of risk mitigation in promoting sustainable growth.
ICIEC’s outcomes in Baku reaffirm its commitment to collaborating with Member States, financial institutions, investors, and development partners to de-risk strategic projects, expand cross-border trade, and foster sustainable prosperity across the OIC region and beyond.
Source: www.zawya.com
Media Contact:
Email: ICIEC-Communication@isdb.org
About ICIEC:
As a member of the rated 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 Shariah-compliant financial solutions. The Corporation is the only Islamic multilateral insurer globally. ICIEC has delivered a comprehensive suite of solutions to companies and stakeholders across its 51 Member States. For the 18th consecutive year, ICIEC maintained an “Aa3” insurance financial strength credit rating from Moody’s, ranking the Corporation among the top tier 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 third consecutive year, with a Stable Outlook. ICIEC’s resilience is supported by sound underwriting practices, a robust global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 138 billion in trade and investment, with activities spanning key sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture.
For more information, visit: ICIEC
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Published on 2026-06-28 13:31:00 • By the Editorial Desk
