The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, and the Arab Trade Financing Program (ATFP) have signed a Bank Master Policy under a Comprehensive Islamic Finance framework, strengthening their longstanding partnership to facilitate trade, enhance access to finance and support sustainable economic growth across member countries.
Signed on the sidelines of the IsDB Group 2026 Annual Meetings held last week in Baku, Azerbaijan, the Bank Master Policy establishes a Shariah-compliant risk-sharing framework to support financing operations arranged by ATFP in the UAE. ATFP is a specialisd Arab financial institution whose mission is to promote Arab trade and to increase the competitive capabilities of the Arab producers and exporters.
Under the arrangement, ICIEC will provide insurance coverage for eligible transactions, protecting the policyholder against specified commercial risks, including non-payment, while enhancing transaction security and confidence among participating financial institutions.
Dr Khalid Khalafalla, CEO of ICIEC, said, “Through this partnership with ATFP, ICIEC is helping strengthen confidence in trade transactions, mitigate non-payment risks, and enable financial institutions to extend financing with greater certainty. This reflects our continued commitment to supporting sustainable economic growth through practical and impactful risk mitigation solutions.”