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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, and KazakhExport, the Export Credit Agency of the Republic of Kazakhstan, have renewed their Quota Share Treaty Reinsurance Agreement.
This marks the fifth consecutive renewal of the agreement, covering the period from 1st October 2025 to 30th September 2026.
Khalid Khalafallah, Chief Executive Officer of ICIEC, and Ayan Bektybayeva, Deputy Chairperson of the Board of KazakhExport, signed the agreement during the 15th Annual Meeting of the AMAN Union, held from 4–6th November 2025 in Jeddah.
The renewal reaffirms the two institutions’ long-standing partnership in advancing trade, investment, and economic cooperation among member states of the Organisation of Islamic Cooperation (OIC).
Under the agreement, ICIEC will continue providing reinsurance coverage for KazakhExport’s Documentary Credit Insurance Policy (DCIP), allowing 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 renewal highlights ICIEC’s strategic role in offering risk capacity, technical support, and knowledge transfer to member Export Credit Agencies (ECAs). It also reinforces Kazakhstan’s commitment to strengthening non-oil exports under the institutional framework of Baiterek National Managing Holding JSC.
Khalafallah said, “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.”
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