The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and KazakhExport, the Export Credit Agency of the Republic of Kazakhstan, have renewed their Quota-Share Treaty Reinsurance Agreement for the fifth consecutive year, covering the period from 1 October 2025 to 30 September 2026.
The agreement was signed by Dr. Khalid Khalafallah, Chief Executive Officer (CEO) of ICIEC, and Mrs. Ayan Bektybayeva, Deputy Chairman of the Board of KazakhExport, on the sidelines of the 15th Annual Meeting of the AMAN Union, held from 4–6 November 2025 in Jeddah.
This renewal reaffirms the long-standing partnership between the two institutions in advancing trade, investment, and economic cooperation among Organization of Islamic Cooperation (OIC) member states.
Under the agreement, ICIEC will continue to provide reinsurance coverage for KazakhExport’s Documentary Credit Insurance Policy (DCIP), enabling the agency to expand its underwriting capacity for trade-finance risks, particularly in high-impact sectors that drive export diversification and support small and medium-sized enterprises (SMEs).
The renewed partnership underscores ICIEC’s strategic role in delivering risk capacity, technical support, and knowledge transfer to member Export Credit Agencies (ECAs), while reinforcing Kazakhstan’s commitment to strengthening non-oil exports under the institutional framework of Baiterek National Managing Holding JSC.
Dr. Khalid Khalafallah, CEO of ICIEC, commented: “This renewal reflects the depth of our partnership with KazakhExport and our shared vision to advance trade and investment across OIC member countries. Through this treaty, ICIEC continues to deliver reinsurance and technical support that empower member ECAs to underwrite larger, more diversified, and more impactful trade transactions.”