ICIEC and Indonesia Eximbank Collaborate in Strategic Retakaful Partnership to Enhance Export Credit Solutions

ICIEC Signs Quota Share Retakaful Treaty with Indonesia Eximbank to Boost Export Credit Mechanisms

During the IsDB Group Annual Meeting 2024 in Riyadh, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Indonesia Eximbank sealed a significant partnership by signing a Quota Share Retakaful Treaty. This strategic agreement aims to enhance export credit mechanisms through Shariah-compliant solutions, specifically supporting the launch of Indonesia Eximbank’s new Export Credit Takaful product/program.

The treaty, estimated to cover business worth USD 13 million in 2024, signifies a milestone in the development of Islamic financial instruments. ICIEC CEO Mr. Oussama Kaissi emphasized the importance of this collaboration in empowering exporters and driving economic growth in Indonesia and the region. He highlighted the potential of strategic partnerships in developing innovative financial products that support sustainable economic development.

The partnership between ICIEC and Indonesia Eximbank not only strengthens economic ties but also contributes to economic stability and growth within the Islamic world. This collaboration showcases the commitment of both institutions to promoting Shariah-compliant financial solutions and supporting exporters in navigating the global market.

With ICIEC’s expertise in retakaful and Indonesia Eximbank’s financial services, this treaty is expected to pave the way for more innovative solutions in the export credit industry. The agreement underscores the importance of strategic collaborations in advancing economic development and fostering sustainable growth in the Islamic finance sector.