KazakhExport received the prestigious "Export Credit Agency of the Year" award for its long-standing successful cooperation with the Islamic Corporation for Insurance of Investments and Export Credit (ICIEC), the reinsurance arm of the Islamic Development
KazakhExport received the prestigious "Export Credit Agency of the Year" award for its long-standing successful cooperation with the Islamic Corporation for Insurance of Investments and Export Credit (ICIEC), the reinsurance arm of the Islamic Development Bank.
This award highlights KazakhExport's effective measures in enhancing the country's export potential, as well as its achievements in trade finance insurance and investment.
Currently, almost all export letters of credit insured by the Export Credit Agency of Kazakhstan are covered by ICIEC reinsurance protection. This agreement includes about 20 issuing banks from various countries. Additionally, ICIEC has supported KazakhExport's insurance for leasing domestically-produced locomotives to Azerbaijan, assuming more than two-thirds of the risk.
In the recent meeting between KazakhExport and ICIEC, long-term plans for expanding cooperation were discussed, particularly in the reinsurance of loans issued to develop Kazakhstani exports.
Oussama Kaissi, the head of ICIEC, emphasized the importance of further developing Kazakhstan's exports as a crucial factor in improving living standards, ensuring food security, and fostering sustainable development across the region.
