BAKU, Azerbaijan, June 21, 2026/APO Group/ –The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (http://ICIEC.IsDB.org), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, has provided insurance support for the construction of the Akii-Bua Olympic Stadium in Uganda. The transaction was signed on the sidelines of the IsDB Group 2026 Annual Meetings, held in Baku, Azerbaijan, from 16 to 19 June 2026.

 

ICIEC’s support was provided through a Specific Transaction Policy (STP) extended to SAMCO National Construction Company of Egypt covering a supplier credit facility. The project has a total contract value of approximately USD 130 million, with an insured amount of USD 65 million and a coverage level of 90% against the non-honouring of a Ministry of Finance guarantee issued by the Government of Uganda.

 

The Akii-Bua Olympic Stadium is part of Uganda’s efforts to strengthen national sports infrastructure and expand its capacity to host regional and international sporting events. Located in Lira City, the project is expected to support youth athletics, promote community participation in sports, and contribute to healthier lifestyles.

 

During construction, the project is expected to create employment opportunities and increase demand for local materials and services. In the longer term, the stadium is expected to stimulate regional economic activity by attracting sporting events, tourism, and related commercial services, while supporting urban development in Lira and surrounding areas.

 

Commenting on the transaction, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “This project demonstrates how well-structured risk mitigation can help deliver social infrastructure with lasting development value. By supporting the Akii-Bua Olympic Stadium, ICIEC is contributing to a project that will serve communities, empower young people, and create new opportunities for economic activity in Northern Uganda.”

BAKU, Azerbaijan, June 21, 2026/APO Group/ –The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) (https://ICIEC.IsDB.org), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group, has signed a Bank Master Policy (BMP) and Documentary Credit Insurance Policy (DCIP) with the National Bank of Bahrain (NBB) on the sidelines of the IsDB Group 2026 Annual Meetings, held in Baku, Azerbaijan, from 16 to 19 June 2026.

 

Under these insurance policies, ICIEC will provide insurance cover for eligible trade finance transactions extended by NBB to entities located in ICIEC Member States and support the confirmation of letters of credit issued by banks in ICIEC Member States, helping facilitate cross-border trade while mitigating payment risks.

 

The partnership underscores ICIEC and NBB’s shared commitment to expanding trade finance, strengthening cross-border trade flows, and deepening economic cooperation among Member States. Through the provision of risk mitigation solutions, the agreement enhances confidence in international trade transactions, supports increased private sector engagement, and facilitates the efficient movement of essential goods and services across strategic markets.

 

Commenting on the agreement, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “Resilient trade ecosystems require strong financial institutions, trusted partnerships, and effective risk mitigation. These insurance policies with the National Bank of Bahrain bring these elements together, enabling greater confidence in cross-border transactions and expanding trade opportunities across ICIEC Member States. We are pleased to join forces with NBB in supporting businesses and facilitating the flow of trade that contributes to sustainable economic development.”

BAKU, Azerbaijan, June 20, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), a member of the Islamic Development Bank Group has published its 2025 Annual Report, revealing US$9.35 billion in trade finance approvals, US$7.79 billion in intra-OIC trade financing and US$6.35 billion mobilised from partner institutions in 2025, underscoring its role in financing trade, energy and food security across across 144 operations in 25 member countries.

 

These figures brought cumulative approvals since ITFC commenced operations in 2008 to US$92.10 billion, with disbursements reaching US$77.70 billion. This showcases ITFC’s role in financing trade flows in member countries facing liquidity constraints, trade finance gaps and continued pressure on food and energy supply chains.

ITFC’s 2025 portfolio remained focused on sectors linked to trade continuity and economic activity:

• Energy approvals reached US$6.47 billion, with financing directed towards fuel, electricity and energy sector needs in member countries
• Food and agriculture approvals reached US$1.57 billion, assisting strategic commodity imports and food security requirements
• Financial sector approvals reached US$1.20 billion, including lines of financing through financial institutions
• Private sector trade finance approvals reached US$1.35 billion, bringing cumulative private sector financing since inception to US$19.60 billion

The report also records ITFC’s partner capital mobilisation during the year. ITFC mobilised US$6.35 billion from public and private sector partners, representing 68 per cent of total approvals. In 2025, ITFC ranked Global #1 Bookrunner and Mandated Lead Arranger in the Bloomberg and LSEG Islamic Syndications League Tables.

Trade development activity also formed part of ITFC’s 2025 delivery. The report outlines trade related technical assistance and integrated solutions initiative in member countries, in addition to programs including the Arab Africa Trade Bridges Programme, the Aid for Trade Initiative for Arab States 2.0, Trade Connect Central Asia Plus and the SMEs Program. These initiatives focus on export capacity, trade facilitation, regional economic cooperation and private sector readiness.

The report also confirms Moody’s reaffirmation of ITFC’s A1 long term foreign currency issuer rating and Prime 1 short term foreign currency issuer rating, with a stable outlook.

The 2025 Annual Report is available here (https://apo-opa.co/3QqV9v7).