The Berne Union, the international organisation and community of leading export credit and political risk insurers, has confirmed the Islamic Corporation for the Insurance of Investment & Export Credit (ICIEC), as a permanent member.

The decision was taken during the 75th annual general meeting (AGM) of the Berne Union, which took place in Seoul, South Korea, from October 12 – 16.

Abdel-Rahman Taha, general manager of ICIEC, who attended the meeting, commented on the decision: “This is an important landmark achievement for the corporation as it signifies its acceptance as a partner by the top export credit agencies and major private sector credit and political risk insurers and reinsurers in the world.

“This is truly a historic development for ICIEC, which will undoubtedly have a positive impact on its business, helping it to better serve its member countries, going forward.”

He added: “Being a member of the Berne Union, the corporation will have access to a wealth of information and technical expertise being exchanged with other members of the Union, who are key players in the export credit and investment insurance industry, such as Euler Hermes, Atradius, Coface, Zurich, ECGD of UK, US Ex-Im, EDC of Canada, Sinosure of China, Nexi of Japan, Miga of the World Bank, and EKF of Denmark.”