Jeddah, Saudi Arabia, The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and a member of the Islamic Development Bank (IsDB) Group is pleased to announce the appointment of Dr. Khalid Khalafalla as Officer-in-Charge, effective 19 May 2024.

Dr. Khalafalla brings a wealth of experience and expertise to this role, having served in various capacities within the Islamic Development Bank (IsDB) Group. Most recently, he was the Principal Executive Assistant to H.E. President of IsDB. Prior to that, he served as Lead Underwriter at ICIEC as well as Acting Head of the IsDB Group Investment Promotion Technical Assistance Program (ITAP).

The ICIEC family congratulates Dr. Khalafalla on his new appointment and looks forward to his leadership in advancing the Corporation's strategic goals.

-Ends-

About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)

ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is uniquely the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 49 Member States. ICIEC, for the 16th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, ICIEC has been assigned a First-Time AA- long-term Issuer Credit Rating by S&P with Stable Outlook.  ICIEC's resilience is underpinned by its sound underwriting, reinsurance, and risk management policies. Cumulatively, ICIEC has insured more than US$ 108 billion in trade and investment. ICIEC activities are directed to specific sectors - energy, manufacturing, infrastructure, healthcare, and agriculture. For more information, visit: http://iciec.isdb.org | Follow us on
X | Facebook | LinkedIn | YouTube

Media Contact 
Rania Binhimd, Strategic Planning and Communications Division|Email:Rbinhimd@isdb.org