- Currency inconvertibility and transfer restrictions.
- War and civil disturbance.
- Breach of Contract.
- Protects balance sheet against losses due to non-commercial risks.
- Attracts additional project capital.
- Enables to penetrate high-risk markets.
- Involvement in project of a multilateral institution (such as ICIEC) is itself a risk mitigant.
- Foreign investment/project in Member Countries.
- New investment or expansion of existing investments/projects.
- Investments should not be prohibited by the Islamic Shariah.
TENOR OF COVERUp to 20 years
INVESTMENT INSURANCE PRODUCTS
HOW IT WORKS
- Investor submits a preliminary application to ICIEC and ICIEC provides its initial 'in-principle' approval and requests a full detailed application.
- On the basis of the detailed application, ICIEC will assess the project/country risks.
- Should ICIEC management approve the insurance, ICIEC will then make an offer of insurance to the investor.
- ICIEC will obtain the non-objection of the government of the host country.
- In the case of risk occurrence, the investor submits a claim to ICIEC and ICIEC pays a compensation.
- Application Forms