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, has marked another significant milestone with the reaffirmation of its “AA-” long-term issuer credit and financial strength rating by Standard & Poor’s (S&P), with a stable outlook. This rating remains the highest within its peer group globally.

The reaffirmation underscores ICIEC’s solid credit profile with robust

financial strength and low credit risk. S&P expects ICIEC to continue

expanding its business operations while maintaining robust levels of

capital adequacy, exceptional liquidity buffers, and steadily increasing

profitability.

The rating report reconfirms ICIEC’s Enterprise Risk Profile (ERP) as

‘strong’ under S&P’s Multilateral Lending Institutions (MLIs)

criteria, underpinned by the corporation’s supportive shareholder

base, strong Preferred Creditor Treatment (PCT), and unique policy role

of conducting all business in a Shariah-compliant manner.

Moreover, for the second year, S&P assesses ICIEC’s Financial Risk

Profile (FRP) as ‘very strong’ under its insurance criteria, as

ICIEC’s capital adequacy shows a significant buffer above the 99.99%

confidence level, as measured by its insurers’ risk-based capital

model. Additionally, the Corporation maintains exceptional liquidity,

reaffirming its upscaled financial strength.

“I sincerely congratulate the Member States, His Excellency the

Chairman and distinguished Members of the ICIEC Board of Directors, and

the dedicated Staff for their unwavering commitment and sustained

achievements.” said Dr. Khalid Khalafalla, CEO of ICIEC. “Aligned

with the IsDB Group’s strategic direction, we reaffirm our deep

commitment to supporting Member States through advancement of Islamic

finance and key development priorities, including green financing, ESG

integration, and food security. ICIEC will continue to play an integral

role in implementing the Group’s strategy in the years ahead,” added

Dr. Khalid.

The reaffirmation of the “AA-” highlights ICIEC’s strong financial

position, prudent risk management, and sound governance practices. It

also underscores the Corporation’s ability to navigate complex global

challenges and its commitment to supporting sustainable economic

development in member states.