SIACE and ATFP strengthen their partnership to support Islamic finance and secure international trade

The Islamic Corporation for the Insurance of Investment and Export Credit (SIACE), a Sharia-compliant multilateral insurer specializing in credit and political risk insurance and a member of the Islamic Development Bank (IsDB) Group, and the Arab Trade Financing Program (ATFP) have signed a Master Banking Policy under a comprehensive Islamic finance framework. This agreement reinforces their long-standing partnership aimed at facilitating trade flows, improving access to finance, and supporting sustainable economic growth across member countries.

Signed on the sidelines of the 2026 IsDB Group Annual Meetings in Baku, the Master Banking Policy establishes a Sharia-compliant risk-sharing mechanism to support financing operations arranged by ATFP in the United Arab Emirates. Under this framework, SIACE will provide insurance coverage for eligible transactions against certain commercial risks, including non-payment risk, while strengthening transaction security and confidence among participating financial institutions.

This signature marks an important milestone in the development of Islamic trade finance solutions and reflects the shared commitment of both institutions to enhance economic connectivity, facilitate cross-border trade, and support private sector development.

Dr. Khalid Khalafalla, Director General of SIACE, stated: “This Master Banking Policy represents a significant step in expanding Sharia-compliant trade finance solutions across our member states. Through this partnership with ATFP, SIACE helps strengthen confidence in commercial transactions, mitigate non-payment risks, and enable financial institutions to extend financing with greater certainty. This initiative reflects our continued commitment to sustainable economic growth through practical and effective risk mitigation solutions.”

As the leading provider of Sharia-compliant credit and political risk insurance, SIACE continues its mission of facilitating cross-border trade and investment by mitigating risks and mobilizing private capital. Through this partnership, SIACE and ATFP contribute to building a more integrated, resilient, and sustainable trade ecosystem across their member countries.