TURKMENISTAN: Republic of Turkmenistan now the 47th member country of ICIEC

12 September 2019 — Marina MAGNAVAL
At the beginning of September, Turkmenistan joined the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IsDB), thus becoming the 47th member country of ICIEC, the Corporation announced.

"Turkmenistan's ICIEC membership marks the onset of a relationship that is both exciting for ICIEC and beneficial for the economy and people of Turkmenistan. ICIEC's risk mitigation and credit enhancement services will act as catalysts for the strengthening and diversification of the country's economy, supporting both increased exports and inward investment. ICIEC's services will allow exporters, banks and investors - from member and non-member countries alike - to cover political and commercial risks related to their operations in Turkmenistan", stated Oussama KAISSI, ICIEC CEO.

ICIEC is the only multinational insurance company in the world that provides export credit insurance, political risk insurance, and reinsurance services in accordance with the principles of Islamic Sharia law. The Corporation promotes exports from member countries to other countries, as well as the flow of capital and investment in ICIEC member countries.

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