Sierra Leone has become the 51st member of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), marking a significant step in the Jeddah-headquartered insurer's expansion across Sub-Saharan Africa.
As a member, Sierra Leone gains access to ICIEC’s Shariah-compliant insurance and reinsurance solutions, aimed at facilitating exports, attracting foreign direct investment, and mitigating political and commercial risks.
In a statement, ICIEC CEO Dr Khalid Khalafalla said that Sierra Leone's "accession reflects both the growing recognition of ICIEC’s developmental mandate and Sierra Leone’s vision to build a more resilient and diversified economy”.
ICIEC is a multilateral insurance institution supporting trade and investment among member countries. It is part of the Islamic Development Bank Group.