Transcript Slide 1
ICIEC Globally secure…. ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 1 Agenda • Who We Are • What We Do ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 2 Who We Are… • • Islamic Corporation for Insurance of Investments and Export Credits (ICIEC) International Islamic Trade Finance Corporation (ITFC) • • Islamic Research and Training Institute (IRTI) Islamic Corporation for the Development of the Private Sector (ICD) • A member of the AAA rated Islamic Development Bank Group Created in 1994 with a mandate to promote Exports from its Member Countries and to facilitate Foreign Direct Investments into its Member Countries Owned by the Islamic Development Bank (67%) and 40 “Organization of Islamic Conference” Countries (33%) Rated Aa3 by Moody’s, with a Stable Outlook The only multilateral export credit agency in the world operating in line with the principle of Shariah ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 3 ICIEC’s Membership….. 17 ARAB Countries 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. ALGERIA BAHRAIN EGYPT JORDAN KUWAIT LEBANON LIBYA MAURITANIA MOROCCO Oman QATAR SAUDI ARABIA SUDAN SYRIA TUNISIA U.A.E YEMEN 14 AFRICAN Countries 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. BENIN BURKINA FASO CAMEROON CHAD COTE D’IVOIRE DIJBOUTI GAMBIA GABON GUINEA MALI NIGER NIGERIA SENEGAL UGANDA 9 ASIAN Countries 1. 2. 3. 4. 5. 6. 7. 8. 9. ALBANIA BANGLADESH BRUNEI IRAN INDONESIA MALAYSIA PAKISTAN TURKEY KAZAKHSTAN ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 4 Agenda • Who We Are • What We Do ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 5 ICIEC’s Mandate…. Export Credit Insurance Investment Insurance To encourage exports from Member Countries to the rest of the World To Encourage the Flow of Capital and Investments from the World to Member Countries Member Member Countries Countries ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 6 Full Range of Export Credit Insurance Products…. • Comprehensive Short-Term Policy – For recurring export transactions, available to ICIEC MC exporters exporting to any part of the world; max tenor 365 days • Specific Transaction Policy – For single export contracts from ICIEC MCs, exporting to any part of the world; max tenor 7 years • Bank Master Policy – Provides cover to ICIEC MC banks involved in Shariah compatible export financing, max tenor 7 years • Documentary Credit Insurance Policy – Provides cover to ICIEC MC banks/FIs against default on LC’s issued by importers banks • Reinsurance Policy – Reinsurance services provided to ECAs in ICIEC MC’s on a treaty and facultative basis ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 7 Export Credit Insurance – Eligibility Criteria 1. Goods/Services must be Shariah Compliant 2. Exporter must be registered in a Member Country or majority owned by a Member Country national 3. Goods must be manufactured or have at least 30% value added in a Member Country Conditions 2 & 3 do not apply in the case of exports of: • Infrastructure equipment • Capital Goods • Food Security related items ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 8 ICIEC – Covering the World…. Since 1995, ICIEC has covered over USD 5 billion worth of exports in diverse sectors like…. Oil & Petrochemicals Textiles Food & Agricultural Products Infrastructure ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 9 Comprehensive Political Risk Insurance Products…. • Four policies offered under the Foreign Investment Insurance Program – – – – Equity Loan Guarantee Financing Facility Non Honoring of Sovereign Obligations • Eligibility criteria are: – Investment must be destined for a Member Country – Investment must be Shariah compliant – New project, extension or acquisition • Scope of Cover: 90% • Standard tenor is 15 years (Max. 20 years) ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 10 ICIEC – Fostering Investments…. ICIEC encourages investments in its Member Countries by providing Political Risk Insurance Services…. USD 427 million Investment by Dubai Ports World in Djibouti Pharmaceutical project in Algeria Power projects in Pakistan… ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 11 Insurance Commitments Trend… Growth In Insurance Commitments 2,500 2,135 2,000 in USD millions 1,672 1,536 1,500 1,213 1,000 500 267 365 2004 2005 0 2006 2007 2008 ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 2009 12 Business Profile… Risk Transfer Quota-Share Treaty with AtradiusRe & Catlin Lloyds Syndicate & other International Reinsurers MIGA, Non MC ECA’s & International Reinsurers Products Short-Term Export Credit Insurance & Reinsurance Medium-Term Export Credit Insurance & Reinsurance Political Risk Insurance & Reinsurance Risk Underwriting & Management Credit Information (Coface, D&B) Credit Opinions (Coface, Atradius) Country Risk Data (EIU, OECD DB, Coface) Best Practices (Berne Union, Prague Club) Training (Coface, SACE, IDB) Credit Information (Coface, D&B) Country Risk Data (EIU, OECD DB, Coface) Best Practices (Berne Union, Prague Club) Technical Support (SACE, Berne Union) Country Risk Data (EIU, OECD DB, Coface) Legal Analysis Support (MIGA) Joint U/W Assessment (MIGA) Best Practices (Berne Union, Prague Club) Technical Support (MIGA, SACE) ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 13 New Initiatives…. • ICIEC will soon be able to provide comprehensive non-payment cover to companies from Non-MC’s, exporting capital equipment and food security related items to ICIEC MC’s This will enable us to provide comprehensive non-payment cover to international companies active in our member states ICIEC’s multilateral status is of particular importance in such deals • ICIEC’s maximum percentage of cover is to be increased to 100% on a case-by-case basis, for secured transactions This will assuage a major concern that banks have, especially for the DCIP product • These changes are expected to go live in July, after the changes to ICIEC's Articles of Agreement are approved by the Board of Governors ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 14 Thank you !!! For more information, please visit www.iciec.com ISLAMIC ISLAMICDEVELOPMENT DEVELOPMENTBANK BANKGROUP: GROUP:ISLAMIC ISLAMICCORPORATION CORPORATIONFOR FORTHE THEINSURANCE INSURANCEOF OFINVESTMENT INVESTMENTAND ANDEXPORT EXPORTCREDIT CREDIT 15