KazakhExport and ICIEC Strengthen Cooperation to Boost Kazakhstan’s Export Potential
From November 4 to 6, 2025, the 15th Annual General Assembly of the Aman Union was held in Jeddah, Saudi Arabia. During the event, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Export Credit Agency of Kazakhstan (KazakhExport) signed a binding reinsurance agreement for export documentary letters of credit, extending its validity for 2025–2026.
Under this agreement, risks of 29 banks in neighboring countries are reinsured (previously 19), significantly expanding opportunities to provide exporters with trade finance. The automatic limit from ICIEC this year reached USD 60 million, demonstrating the corporation’s high level of confidence in KazakhExport’s risk assessment system.
In insurance activities, it is important not only to assume risks but also to manage them effectively. This principle is implemented through the reinsurance mechanism, which simultaneously provides reliable protection to exporters and minimizes potential losses. Such agreements strengthen the resilience of the national export insurance system and enhance its competitiveness at the international level.
During the forum, meetings were held by the Deputy Chairperson of the Board of KazakhExport, Ayan Bektybayeva, aimed at expanding export opportunities in the MENA region and Africa. Agreements were signed with Algeria and Nigeria, opening new prospects for promoting Kazakh exports and developing partnership projects.
“We see great potential in the MENA and African regions and strive to create a platform for entering new markets and making deals. Our goal is to work with partners who understand local markets and help enter them with minimal risks,” said A. Bektybayeva.
In this context, the Aman Union strengthens cooperation and creates a powerful platform for international partnership.
“Our cooperation with ICIEC in the field of reinsurance further strengthens Kazakhstan’s export potential and increases confidence in implementing new projects abroad,” emphasized the KazakhExport representative during her speech.
Through joint efforts, ICIEC and KazakhExport continue to contribute to the sustainable growth and stability of the regional trade ecosystem, as well as to the development of economic cooperation among the countries of the Islamic world.
Aman Union is a professional union of state and private insurance and reinsurance organizations from member countries of the Organization of Islamic Cooperation (OIC). The General Assembly is organized by ICIEC, part of the Islamic Development Bank Group (IsDB Group).
