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ICIEC Globally secure….

ICIEC Globally secure…. Agenda. Who We Are What We Do. Who We Are…. A member of the AAA rated Islamic Development Bank Group Created in 1994 with a mandate to promote Exports from its Member Countries and to facilitate Foreign Direct Investments into its Member Countries

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ICIEC Globally secure….

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  1. ICIEC Globally secure….

  2. Agenda • Who We Are • What We Do

  3. Who We Are… • A member of the AAA rated Islamic Development Bank Group • Created in 1994 with a mandate to promote Exports from its Member Countries and to facilitate Foreign Direct Investments into its Member Countries • Owned by the Islamic Development Bank (67%) and 40 “Organization of Islamic Conference” Countries (33%) • Rated Aa3 by Moody’s, with a Stable Outlook • The only multilateral export credit agency in the world operating in line with the principle of Shariah Islamic Corporation for Insurance of Investments and Export Credits (ICIEC) International Islamic Trade Finance Corporation (ITFC) Islamic Corporation for the Development of the Private Sector (ICD) Islamic Research and Training Institute (IRTI)

  4. ICIEC’s Membership….. 17 ARAB Countries 14 AFRICAN Countries 9 ASIAN Countries • ALGERIA • BAHRAIN • EGYPT • JORDAN • KUWAIT • LEBANON • LIBYA • MAURITANIA • MOROCCO • Oman • QATAR • SAUDI ARABIA • SUDAN • SYRIA • TUNISIA • U.A.E • YEMEN • BENIN • BURKINA FASO • CAMEROON • CHAD • COTE D’IVOIRE • DIJBOUTI • GAMBIA • GABON • GUINEA • MALI • NIGER • NIGERIA • SENEGAL • UGANDA • ALBANIA • BANGLADESH • BRUNEI • IRAN • INDONESIA • MALAYSIA • PAKISTAN • TURKEY • KAZAKHSTAN

  5. Agenda • Who We Are • What We Do

  6. ICIEC’s Mandate…. Investment Insurance Export Credit Insurance To Encourage the Flow of Capital and Investments from the World to Member Countries To encourage exports from Member Countries to the rest of the World Member Countries Member Countries

  7. Full Range of Export Credit Insurance Products…. • Comprehensive Short-Term Policy • For recurring export transactions, available to ICIEC MC exporters exporting to any part of the world; max tenor 365 days • Specific Transaction Policy • For single export contracts from ICIEC MCs, exporting to any part of the world; max tenor 7 years • Bank Master Policy • Provides cover to ICIEC MC banks involved in Shariah compatible export financing, max tenor 7 years • Documentary Credit Insurance Policy • Provides cover to ICIEC MC banks/FIs against default on LC’s issued by importers banks • Reinsurance Policy • Reinsurance services provided to ECAs in ICIEC MC’s on a treaty and facultative basis 7 7

  8. Export Credit Insurance – Eligibility Criteria • Goods/Services must be Shariah Compliant • Exporter must be registered in a Member Country or majority owned by a Member Country national • Goods must be manufactured or have at least 30% value added in a Member Country • Conditions 2 & 3 do not apply in the case of exports of: • Infrastructure equipment • Capital Goods • Food Security related items 8 8

  9. ICIEC – Covering the World…. • Since 1995, ICIEC has covered over USD 5 billion worth of exports in diverse sectors like…. • Oil & Petrochemicals • Textiles • Food & Agricultural Products • Infrastructure

  10. Comprehensive Political Risk Insurance Products…. • Four policies offered under the Foreign Investment Insurance Program • Equity • Loan Guarantee • Financing Facility • Non Honoring of Sovereign Obligations • Eligibility criteria are: • Investment must be destined for a Member Country • Investment must be Shariah compliant • New project, extension or acquisition • Scope of Cover: 90% • Standard tenor is 15 years (Max. 20 years) 10 10

  11. ICIEC – Fostering Investments…. • ICIEC encourages investments in its Member Countries by providing Political Risk Insurance Services…. • USD 427 million Investment by Dubai Ports World in Djibouti • Pharmaceutical project in Algeria • Power projects in Pakistan…

  12. Insurance Commitments Trend…

  13. Business Profile… Quota-Share Treaty with AtradiusRe & Catlin Lloyds Syndicate & other International Reinsurers MIGA, Non MC ECA’s & International Reinsurers Risk Transfer Short-Term Export Credit Insurance & Reinsurance Medium-Term Export Credit Insurance & Reinsurance Political Risk Insurance & Reinsurance Products Credit Information (Coface, D&B) Credit Opinions (Coface, Atradius) Country Risk Data (EIU, OECD DB, Coface) Best Practices (Berne Union, Prague Club) Training (Coface, SACE, IDB) Credit Information (Coface, D&B) Country Risk Data (EIU, OECD DB, Coface) Best Practices (Berne Union, Prague Club) Technical Support (SACE, Berne Union) Country Risk Data (EIU, OECD DB, Coface) Legal Analysis Support (MIGA) Joint U/W Assessment (MIGA) Best Practices (Berne Union, Prague Club) Technical Support (MIGA, SACE) Risk Underwriting & Management

  14. New Initiatives…. • ICIEC will soon be able to provide comprehensive non-payment cover to companies from Non-MC’s, exporting capital equipment and food security related items to ICIEC MC’s • This will enable us to provide comprehensive non-payment cover to international companies active in our member states • ICIEC’s multilateral status is of particular importance in such deals • ICIEC’s maximum percentage of cover is to be increased to 100% on a case-by-case basis, for secured transactions • This will assuage a major concern that banks have, especially for the DCIP product • These changes are expected to go live in July, after the changes to ICIEC's Articles of Agreement are approved by the Board of Governors 14 14

  15. Thank you !!! For more information, please visit www.iciec.com

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