JEDDAH, Saudi Arabia, April 23, 2026
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (www.ICIEC.IsDB.org), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, is pleased to announce that S&P Global Ratings has affirmed its long-term issuer credit and financial strength ratings at ‘AA-’ with a Stable Outlook for the third consecutive year, maintaining ICIEC’s position among the highest-rated peer institutions globally.
The reaffirmation reflects ICIEC’s strong credit fundamentals, underpinned by solid financial strength, a low-risk profile, and S&P’s confidence in its robust capital adequacy, sound risk management framework, exceptional liquidity, and sustained financial performance. S&P has maintained ICIEC’s Enterprise Risk Profile at strong (A+) and Financial Risk Profile at very strong (up to AA+), supported by capital adequacy at the 99.99% confidence level, prudent governance, strong shareholder support, and Preferred Creditor Treatment (PCT). The overall rating of ‘AA-’ is based on the combined strength of these profiles. Stable Outlook reflects expectations of continued mandate-driven growth while maintaining strong capital and liquidity positions.
S&P further noted that ICIEC’s exposure to ongoing Middle East geopolitical developments remains limited and well-diversified, with strong capital buffers and reinsurance support sufficient to absorb potential volatility and claims. The Corporation’s business prospects remain resilient, supported by core markets across Africa, Asia, and Central Asia, particularly within the PCT-backed investment guarantee segment.
ICIEC extends its sincere appreciation to its Member Countries, the Chairman and members of the Board of Directors, and all stakeholders for their continued support, as well as to its dedicated staff members.
This reaffirmation underscores ICIEC’s financial strength, robust risk management, and institutional resilience, reinforcing its commitment to supporting sustainable economic development across its Member States while further strengthening its global standing. It also reinforces continued confidence among global partners, including policyholders, financial institutions, export credit agencies, and particularly reinsurance partners, in ICIEC as a reliable and trusted low-risk multilateral counterparty.
