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  1. Table of Contents

  2. International Islamic Trade Finance Corporation (ITFC) Islamic Corporation for Insurance of Investments and Export Credits (ICIEC) Islamic Corporation for the Development of the Private Sector (ICD) Islamic Research and Training Institute (IRTI) Affiliated Institution )

  3. AAA rating (S&P, Fitch & Moody’s) ISLAMIC DEVELOPMENT BANK GROUP

  4. Islamic Development Bank (IDB) • Multilateral Developmental Bank established in 1975 with its headquarter located in Jeddah, Saudi Arabia • Leading South-South Development Finance Bank owned by 56 member countries of the Organization of the Islamic Conference (OIC) that span across the Middle East, Africa, Asia and Europe • Subscribed capital of US$ 34 billion • Rated AAA by the three major Rating Agencies (Standard & Poor's, Moody's, and Fitch) • Designated as a Zero Risk Weighted Multilateral Developmental Bank (MDB) by the Basel Committee on Banking Supervision and the Commission of the European Communities

  5. Human Development Agriculture Development and Food Security Infrastructure Development Intra-trade Among Member Countries Private Sector Development Research and Development in Islamic Economics, Banking and Finance IDB: Six Priority Areas

  6. IDB Current Areas of Intervention

  7. IDB Current Areas of Intervention(Cont’d)

  8. Growth In IDB membership Europe: 2 Asia: 26 Latin America: 1 Africa: 27 • A Unique Model of South-South Cooperation • 56 members spreading over 4 continents • 22 countries in 1975 → 56 countries in 2009

  9. Major Shareholders of IDB

  10. Islamic Research & Training Institute • Established in 1981 to undertake applied & basic research in Islamic Economics and Finance. Activities include: • Research Seminars & Conferences • Training Courses • Publications • IDB Prize in Islamic Economics, Banking & Finance • IRTI Scholarship for PhD in Islamic Banking

  11. Islamic Corporation for the Development of the Private Sector (ICD) • Established in 1999 & commenced its operation in July 2000 • Mandated to promote private sector development and to offer advisory services to the private sector entities in member countries. • An authorized capital of US$ 2 billion, paid up capital of US$ 470 million. • 47 Islamic Countries are members of which 21 are in Africa. • Capital Structure (50% IDB, 30% MCs, 20% Financial Institutions). • As of December 2009, cumulative business : • - Approvals : 185 Projects amounting to US$ 1.59 billion • - in more than 32 member countries

  12. International Islamic Trade Financing Corporation (ITFC) • Commenced business activities in January 2008. • It promotes and enhances intra-trade and trade cooperation among 57 member countries of the Organization of Islamic Conference (OIC) through trade financing and promotion programs; • Authorized Capital : US$ 3.0 billion • Subscribed Capital : US$ 750 million • Managing Funds for other institutions : US$ 1.0 billion • Year 2009 Trade Finance Approvals : US$ 2.1 billion • Cumulatively Trade Financing, end 2009 : US$ 4.6 billion

  13. THE ISLAMIC CORPORATION FOR THE INSURANCE OF INVESTMENT AND EXPORT CREDIT Aa3 rating (Moody’s)

  14. IFSR Aa3 Credit Alliance • ICIEC is a multinational institution with full juridical personality and multilateral status • Established in 1994 & based in Jeddah – KSA with a representative office in DIFC - Dubai • Owned by the Islamic Development Bank Group in addition to 40 member countries from Asia, Africa and Europe • Subscribed capital is US$ 600 million • Rated Aa3 by Moody's • The only Export Credit Agency in the world that provides export credit & Investment insurance in compliance with the Islamic Shariah • Permanent Member in Berne Union, Coface Alliance, Prague club and founding member of AMAN Union

  15. ICIEC Member Countries

  16. ICIEC Major Shareholders

  17. ICIEC Milestones …

  18. ICIEC Milestones …

  19. ICIEC Rating IFSR Aa3 ICIEC was first rated Aa3 in 2007 and has maintained the same rating for 5 consecutive years with stable outlook • ICIEC's rating reflects : • Both the stand-alone fundamentals as well as potential support from its shareholders/IDB Group member countries. • ICIEC's legal structure and business nature, as the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compatible insurance and reinsurance products. • Its enhanced regional knowledge based on its experience by operating in the region. • As a member of the IDB Group, ICIEC benefits from various managerial synergies and support.

  20. Organizational Capabilities

  21. ICIEC Governance Structure Board Of Governors Board of Directors Sharia Board • Group Internal Audit • Group Risk Mgmt • Group Strategic Planning • Group Ombudsman • Group Integrity Advisory Committee Chairman CEO

  22. ICIEC Organization Structure

  23. ICIEC Corporate Governance Structure Multilevel Self Governance

  24. ICIEC Board of Governors

  25. IDB Board of Governors (Cont’d)

  26. ICIEC Management Chairman of the Board Dr Ahmad Mohamed Ali The President of the Islamic Development Bank Group (IDB) Dr. Ali holds a B.A. degree in Commerce and a degree in Law from Cairo University, Egypt. He earned M.A. and PhD degrees, both in Public Administration, from the University of Michigan, Ann Arbor, and, State University of New York (SUNY), Albany, USA, respectively in 1962 and 1967. Dr. Ali began his career in education and manpower development with his appointment as Director, Scientific and Islamic Institute, Aden, Yemen, during 1958-59. Subsequently, he returned to Saudi Arabia and continued in the same path with his appointment as the Acting Rector of King Abdulaziz University from 1967 to 1972. His contribution to the development of the people was recognized by the government of the Kingdom of Saudi Arabia and in 1972 he was selected to serve as Deputy Minister of Education and served his country for three years. Upon the initiative of the late King Faisal Bin Abdulaziz, when the member countries of the Organization of the Islamic Conference (OIC) decided to establish the Islamic Development Bank, he was chosen as its first President

  27. ICIEC Management Chief Executive Officer Dr Abdul Rahman El Tayeb Taha The CEO of the Islamic Corporation for the Insurance of Investment and Export Credit Dr.Taha has graduated and earned an MBA from the University of California, Berkeley in 1965 and 1966 respectively. He obtained his Ph.D. in Business Administration from the University of California, Los Angeles in 1970. Dr. Taha lectured at the University of Khartoum, Sudan in business management, and then moved to the World Bank Headquarters in Washington D.C., where he served as an Economist and Senior Economist (1978-1984). His association with trade finance started when he joined the Inter-Arab Investment Guarantee Corp., in 1984, where he worked as Director of Research, and Director of Operations up to 1990, when he moved to London to establish and manage a private company specializing in international trade and project finance. In 1993 he joined the Arab Trade Financing Program, an affiliate of the Arab Monetary Fund, in Abu-Dhabi as Director of Trade Finance. In 1994 he assumed his responsibilities as General Manager of ICIEC. In 2009 he was promoted to the position of Chief Executive Officer of ICIEC.

  28. ICIEC Management Director of Operations Khemais El-Gazzah The director of operations of the Islamic Corporation for the Insurance of Investment and Export Credit Mr.Khemais has done his masters in Econmics and International Trade from Sfax and Tunis Universies repectivly in 1988. In 2009 has concluded the advance management program from INSEAD Before joining ICIEC Mr.Khemais has held the postion of Director of Business Development in COTUNACE -Tunsian Export Credit Agency, before that he spent 7 years as an instructor in the Maghreb Institute of Finance (IFID) in Tunsia. Mr. Khemais has a combined experience of more than 23 years in the Credit Insurance Industry. Mr.Khemais has remarkable contributions to the development of credit Insurance Industry in the region. He is a main Panelist to Middle East Trade & Export Finance Forum orgainzed by GTR and Exporta Publshing & Events Ltd. Mr.Khemais is also board member in the Allied Cooperative Insurance Group (ACIG), a publicly listed Insurance companybased in Saudi Arabia. For the last 14 years, he played an important role in drivng business growth in ICIEC Export Insurance operations.

  29. Business Model

  30. Main Services Provided

  31. Investment Insurance Export Credit Insurance To encourage the flow of capital and investments from the World to Member Countries To encourage exports from Member Countries to the rest of the World Member Countries Member Countries ICIEC Mandate …

  32. ICIEC Takaful Model Capital Subscriptions Shareholders Fund Surplus Reserves Investment Returns Insurance Management Wakala Fee Never occurred since inception Deficit Financing Policyholders Fund Premiums Recoveries Surplus from Operations Surplus Investment Returns Profit share ( Shareholders Investment Returns) Claims

  33. ICIEC Takaful Model Separation of

  34. Business Strategy

  35. Underwriting Approach

  36. ICIEC Value Proposition

  37. Operational Support Mix

  38. Risk Management Documentation

  39. Country Risk Analysis

  40. Reinsurance

  41. Description of ICIEC Outward Quota Share Treaty Since July 2004, ICIEC has entered into QST contract with Atradius Re and Catlin for all its short-term Export credit. The agreement is on yearly renewable basis and still in-force now Since 08/09, ICIEC has a Domestic Business Insurance and is ceding 100% of the risk to its Reinsurers against a ceding commission of 27.5%

  42. Key Reinsurers Rating • Quota Share Business • Atradius Re • A- (S&P) • Catlin UK • A (Strong, S&P) • A (Excellent, A.M Best • -ACE Bermuda • AA (S&P) • Facultative Business • Zurich UK • AA- (S&P) • Chubb (Federal) • AA(S&P) • Sovereign • AA- (S&P) • Garant • A- (A.M Best) • Axis Re • A+ (Stable, S&P) • Fitch: A+ (strong) stable outlook • Lloyd's syndicate • A.M Best: A (Excellent) stable outlook • S&P: A+ (strong) stable outlook

  43. Credit Information

  44. In-House Credit Scoring Model

  45. Claims & Recovery

  46. Information Technology Public Access Clients Credit Limits Online Online Portal for Policy Management Enquiry • Web Access • Information • Pricing • Documentation Premium Invoicing Buyer/Bank Underwriting Underwrit-ing Statistical Reports ICIEC Management & BOD n Credit Information Risk Manag. Reports Exposure Monitoring Country Risk KPIs Technical Support Reinsurance Support Underwriting Delegation National ECAs

  47. Marketing Mix

  48. Distribution Channels • IDB Gates • ( Jakarta, Cairo, Istanbul, Abuja, Dhaka) • IDB Regional Offices (Kuala Lumpur, Dakar, Rabat, Almaty) • Local Sales • Representative • Dubai Office (DIFC) • Jeddah Office (HQ) • Local Agents • National ECAs • Brokers • Customer

  49. Jeddah HQ An assortment of 55 Professional and Technical staff members from the best caliber in credit insurance and banking sector representing over 13 nationalities from our member countries