May 25, 2024

The Islamic Corporation signs agreement with Uzbekinvest to support export development

Mr Oussama Kaissi, Chief Executive Officer of ICIEC

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank (IsDB) Group, and Uzbekinvest Export-Import Insurance Company signed a Master Reinsurance Agreement to support exports of Uzbekistan.

The agreement was signed by Mr Oussama Kaissi, Chief Executive Officer of ICIEC, and Mr. Rustam Khalikov, First Deputy Director General, Uzbekinvest.

Rustam Khalikov, First Deputy Director General, Uzbekinvest

Under the agreement, ICIEC will provide reinsurance services to Uzbekinvest for exports of goods and services from Uzbekistan to all over the world, this will enhance the underwriting capacity of Uzbekinvest, hence increasing the country’s exports. ICIEC has been extending similar reinsurance support to other Member States’ export credit agencies (ECA) and Eximbanks.

Commenting on the agreement Mr Oussama Kaissi said “ICIEC welcomes this partnership with Uzbekinvest which will strengthen our efforts in providing reinsurance in export credits, especially in the CIS region. It is believed that there is strong demand for export credit insurance from business communities, especially after the economic crises and political turbulence in certain countries”.

Press release received on mail

Also read the article on: The Islamic Corporation and Trustbank partner to provide financing in Uzbekistan



A signing ceremony was held in Cairo and attended by company representatives and distinguished leaders.
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