The reaffirmation is based on ongoing improvements in ICIEC’s standalone credit profile, driven by enhanced risk management practices, improved underwriting performance, and a robust asset quality supported by a highly liquid investment portfolio.
The Corporation’s strong capital adequacy further benefits from its preferred creditor status among Member Countries.
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has maintained its Aa3 Insurance Financial Strength Rating following Moody’s periodic review, reflecting continued confidence in the Corporation’s strong financial foundation.
Strong Institutional Support
The Aa3 rating continues to benefit from the strong institutional and shareholder support of the Islamic Development Bank (IsDB) and sovereign Member Countries, including the Kingdom of Saudi Arabia. This backing underscores ICIEC’s commitment to delivering Shariah-compliant risk mitigation solutions.
CEO’s Statement
Dr. Khalid Khalfallah, CEO of ICIEC, commented:
“Maintaining our Aa3 rating underscores ICIEC’s solid credit profile and our unwavering commitment to delivering Shariah-compliant risk mitigation solutions that facilitate sustainable trade and investment flows across Member Countries.”
Operational Resilience Confirmed
The periodic review does not constitute a rating action but confirms ICIEC’s continued financial stability and operational resilience. Moody’s detailed credit opinion is expected to be published in the coming weeks.
Sources: ICIEC.
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