ICIEC Receives Global Islamic Export Credit and Political Risk Insurance Award 2017

Thursday, September 14, 2017

ICIEC is endowed with "Global Islamic Export Credit and Political Risk Insurance Award 2017" in the 7th Global Islamic Finance Awards Ceremony (GIFA Ceremony) held at  Kazakhstan on September 06, 2017. The ceremony was attended by heads of state and government, ministers, ambassadors and Islamic financial fraternity from around the world. The distinguished guests included HE. Nursultan Nazarbayev, President of Kazakhstan, and
HE. Ismail Omar Guelleh, President of Djibouti.


Global Islamic Finance Awards (GIFA) is the most prestigious Islamic finance awards programme in the world, which was founded in 2011 by Edbiz Corporation as part of its advocacy for Islamic banking and finance. Since then it has annually been offering its top award – Global Islamic Finance Leadership Award – to heads of state or government (or equivalent) for their leadership and advocacy roles in promoting Islamic banking and finance in their respective jurisdictions or globally.


Commenting on the award having been conferred on ICIEC, its Chief Executive Officer,
Mr Oussama Abdel Rahman Kaissi said “It is indeed an honor to receive again this year the prestigious "Global Islamic Export Credit and Political Risk Insurance Award 2017”. “We are committed to facilitate trade and promote investment between ICIEC's member countries and the rest of the world by providing Shariah compliant risk mitigation insurance solutions”. “Receiving this award enforces our belief in the need to further expand our products' offering in order to meet the evolving risk mitigation requirements of our clients”, he added.


“Our excellent performance did not go unnoticed globally, with no less than the Moody’s Investors Service reaffirming in July 2017 the Aa3 insurance financial strength rating (IFSR) for the tenth consecutive year which recognizes our stong financial and operating leverage,” he pointed out.


ICIEC continues its high performance in terms of Business Insured, along with the increasing demand of the market on Investment and Credit Insurance services. The cumulated Business Insured volume has reached USD 18.15 billion within the period of 2014-2016, including Investment Insurance of USD 3.12 billion and Credit Insurance short and Medium term amounted to USD 15 billion.