As of October 2024, ICIEC has maintained an "Aa3" insurance financial strength rating from Moody's for the 17th consecutive year, reflecting its strong credit profile and the ongoing support from key shareholders, including the IsDB and sovereign members of the Organization of Islamic Cooperation (OIC). It has also been rated AA- by S&P.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development Bank (IsDB) Group, established on August 1, 1994. Its primary mission is to promote trade and investment among member countries by providing Shariah-compliant insurance and reinsurance solutions. These services mitigate political and commercial risks associated with cross-border transactions, thereby facilitating economic development.

ICIEC provides the following facilities in accordance with the principles of shariah:
✓ Export credit insurance: ICIEC offers services to exporters and banks in ICIEC member countries for both short-term and medium- term (up to seven years) covering commercial and political risks.
✓ Foreign investment insurance: ICIEC offers cover to investors and financiers of the projects from anywhere in the world to invest into ICIEC member countries.
✓ Reinsurance services: ICIEC offers reinsurance services to ECAs and commercial insurance companies in ICIEC member countries and can also participate with international ECAs.

1992: The Board of Governors approves the Articles of Agreement during the 16th IsDB Annual Meeting held in Tripoli, Libya

1994: ICIC is established as a multilateral export credit and investment insurance Corporation

1995: The authorized capital is set at ID 100 million (about UD 140 million), providing a solid financial foundation for the Corporation’s operations

1997: Begins operations with three core products: Comprehensive Short-term Policy (CP), Bank Master Policy (BMP), and Supplementary Medium-term Policy (MP), each designed to meet specific needs of the Member States and investors

1998: Launches the Foreign Investment Insurance Policy (FIIP), a critical tool for protecting investments against non-commercial risks and encouraging foreign direct investment into Member States