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ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 1 Enhancing Trade and Investments among OIC Countries.

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Presentation on theme: "ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 1 Enhancing Trade and Investments among OIC Countries."— Presentation transcript:

1 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 1 Enhancing Trade and Investments among OIC Countries 27-28 October 2014, Dushanbe, Tajikistan

2 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 2 Credit Alliance ICIEC is a multinational institution with full juridical personality and multilateral status Established in 1994 & based in Jeddah – KSA with a representative office in DIFC - Dubai Owned by the Islamic Development Bank Group in addition to 41 member countries from Asia, Africa and Europe Authorized Capital is US$ 600 million Rated Aa3 by Moody's The only Export Credit Agency in the world that provides export credit & investment insurance in compliance with the Islamic Shariah Permanent Member in Berne Union, Coface Alliance, Prague club and founding member of AMAN Union The Islamic Corporation for the Insurance of Investment and Export Credit

3 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 3 A broad mandate 3 Export Credit Insurance Member Countries To encourage exports from Member Countries to the rest of the World Investment Insurance To Encourage the Flow of Capital and Investments from the World to Member Countries Member Countries Provide Export Credit Insurance to suppliers of capital equipment, essential commodities & food security related items to Member Countries

4 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 4 ARAB COUNTRIES ALGERIA EGYPT BAHRAIN JORDAN KUWAIT LEBANON LIBYA MAURITANIA MOROCCO OMAN QATAR SAUDI ARABIA SUDAN SYRIA TUNISIA U.A.E. YEMEN ICIEC Member Countries SUB-SAHARAN AFRICAN COUNTRIES BENIN BURKINO FASO CAMEROON IVORY COAST CHAD DJIBOUTI GABON GAMBIA GUINEA MALI MOZAMBIQUE NIGER NIGERIA SENEGAL UGANDA EURASIAN COUNTRIES ALBANIA BANGLADESH BRUNEI INDONESIA IRAN KAZAKHSTAN MALAYSIA PAKISTAN TURKEY MEMBERSHIP APPLICATIONS UNDER PROCESS GUINEA BISAU PALASTINE SURINAME TOGO UNION OF COMOROS IRAQ AZERBAIJAN

5 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 5 How does ICIEC extend its services directly to exporters in Member countries to banks in member countries cooperation with Export Credit Agencies (ECA) of member countries (reinsurance) directly to equity investors investing in member countries to international banks financing investments in member countries to ECAs of non member countries ( Sinosure, Atradius etc.) for imports of capital goods

6 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 6 Sample transactions of intra-OIC Trade & Investment Insurance Export of cables from Egypt to Sudan Exports of pharmaceuticals from Jordan to Algeria Export of livestock from Sudan to Saudi Arabia Exports of oil from Saudi Arabia to Pakistan, Bangladesh A pharmaceutical factory investment from Jordan to Algeria A steel factory investment from Turkey to Algeria An energy investment from Turkey to Lebanon

7 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 7 Other sample transactions of Trade & Investment Insurance Export of cables, aluminum, petrochemicals Dubai Metro, UAE French investment of dairy products, Iran Container Terminal Project, Djibouti Import of excavators and trucks for SSGPO, Kazakhstan Power plants in Senegal and Indonesia Dakar Int. Airport, Senegal Istanbul Metro, Turkey Oil exploration project, Pakistan

8 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 8 Benefits of ICIEC membership In Export Credit Insurance: Protects Foreign Receivables Creates Global Competitiveness Enhances Export Volume Increases Number of Export Markets Enhances Risk Capacity In Foreign Investment Insurance: Encourages Foreign Direct Investment from member as well as non-member countries’ investors and banks

9 ISLAMIC DEVELOPMENT BANK GROUP: ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT 9 Thank You! For more information please visit www.iciec.com contact: oaktuna@isdb.org


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