The Islamic Firm for the Insurance Coverage of Financial Investment and Export Debt (ICIEC) (), a premier Shariah-based multilateral insurance company and a participant of the Islamic Advancement Financial Institution (IsDB) Team, is enjoyed reveal the finalizing of an Allocation Share Retakaful Treaty with Indonesia Eximbank. The finalizing event occurred throughout the IsDB Team Yearly Fulfilling 2024 in Riyadh, with ICIEC CHIEF EXECUTIVE OFFICER Mr. Oussama Kaissi and H.E. Rijani Tirtoso, Exec Director/Chairman of Indonesia Eximbank, defining the arrangement.
This critical arrangement offers retakaful knowledge and ability with an Allocation Share Treaty, particularly made to sustain the launch of Indonesia Eximbank’s brand-new Export Debt Takaful product/program. Business expected to be guaranteed under this treaty for the year 2024 is approximated at USD 13 million.
ICIEC CHIEF EXECUTIVE OFFICER Mr. Oussama Kaissi specified, “This collaboration stands for a substantial development in our collaborations to improve export credit history devices with Shariah-compliant options. By leveraging our retakaful knowledge with Indonesia Eximbank’s durable monetary solutions, we intend to equip merchants and drive financial development in Indonesia and within the area. This collaboration functions as an archetype of just how critical cooperations can bring about the advancement of ingenious monetary items that sustain lasting financial advancement.”
The arrangement notes a turning point in the advancement of Islamic monetary tools and reinforces the financial connections in between ICIEC and Indonesia, intending to sustain merchants and add to financial security and development in the Islamic globe.
Dispersed by APO Team in support of Islamic Firm for the Insurance Coverage of Financial Investment and Export Debt (ICIEC).
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Rania Binhimd
Communication Department
Email: Rbinhimd@isdb.org
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About The Islamic Firm for the Insurance Coverage of Financial Investment and Export Debt (ICIEC):
ICIEC began procedures in 1994 to reinforce financial relationships in between OIC Participant States and advertise intra-OIC profession and financial investments by offering danger reduction devices and monetary options. The Firm is distinctly the only Islamic multilateral insurance company on the planet. It has actually led from the front in providing a thorough collection of options to firms and events in its 49 Participant States. ICIEC, for the 16th successive year, preserved an “Aa3” insurance coverage monetary stamina debt score from Moody’s, rating the Firm amongst the top of the Debt and Political Threat Insurance Coverage (CPRI) Market. Furthermore, ICIEC has actually been designated a Novice AA- long-lasting Company Debt Score by S&P with Steady Overview. ICIEC’s durability is underpinned by its audio underwriting, reinsurance, and danger monitoring plans. Cumulatively, ICIEC has actually guaranteed greater than US$ 108bn in profession and financial investment. ICIEC tasks are guided to details markets– power, production, facilities, medical care, and farming.
