BAKU, Azerbaijan, October 26. The Islamic
Corporation for the Insurance of Investment and Export Credit
(ICIEC), a Shariah-based multilateral insurer and member of the
Islamic Development Bank Group, is pleased to announce that Moody’s
Ratings has affirmed the Corporation’s Aa3 Insurance Financial
Strength Rating (IFSR) with a Stable Outlook, reflecting the
agency’s ongoing confidence in the Corporation’s strong financial
fundamentals and strategic importance as a member of the Islamic
Development Bank (IsDB) Group.


Moody's cited ICIEC’s strengthening standalone credit profile,
including its role as a leading multilateral provider of
Shariah-compliant export credit and investment insurance and
reinsurance solutions. The agency highlighted improved underwriting
performance supported by enhanced risk management, strong asset
quality and liquidity, and strong capital adequacy. The
Corporation’s preferred creditor status among its Member Countries
further reinforces its financial strength and institutional
standing.


The rating also benefits from the strong institutional and
shareholder support of the IsDB and sovereign shareholders,
including Kingdom of Saudi Arabia.


Commenting on the rating affirmation, Dr. Khalid Khalafalla,
Chief Executive Officer of ICIEC, stated: “This affirmation is
a strong endorsement of ICIEC’s financial resilience and our
ability to manage risks effectively in an increasingly complex
global environment. It strengthens our position as a trusted
multilateral partner, enabling us to expand our reach, mobilise
investment and deliver meaningful development impact across our
Member Countries through innovative Shariah-compliant insurance
solutions.”







The Stable Outlook primarily reflects expected ongoing
shareholder support, alongside expectations of continued risk
management improvements and strong financial fundamentals as ICIEC
expands and diversifies its operations while maintaining prudent
underwriting discipline. Moody’s also identified ICIEC’s exposure
to geopolitical risks and its smaller operational scale relative to
peers as moderating factors.


About The Islamic Corporation for the Insurance of
Investment and Export Credit (ICIEC):


As a member of ‘AAA’ rated Islamic Development Bank (IsDB),
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 financial
solutions. The Corporation is the only Islamic multilateral insurer
in the world. It has led from the front to deliver a comprehensive
suite of solutions to companies and parties in its 51 Member
States. ICIEC, for the 19th consecutive year, maintained
an "Aa3" insurance financial strength credit rating from Moody's,
ranking the Corporation among the top of the Credit and Political
Risk Insurance (CPRI) Industry. Additionally, S&P has
reaffirmed ICIEC “AA-“ long-term Issuer Credit and Financial
Strength Rating for the third year with Stable Outlook. ICIEC's
resilience is underpinned by its sound underwriting, global
reinsurance network, and strong risk management policies.
Cumulatively, ICIEC has insured more than USD 139 billion in trade
and investment. ICIEC activities are directed to several sectors
such as energy, manufacturing, infrastructure, healthcare, and
agriculture.