Mr. Shahbaz Hussain Syed, President & CEO – Pak EXIM, inaugurated the bank's Faisalabad Office at the Faisalabad Chamber of Commerce & Industry (FCCI) in the presence of a high-level delegation from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group led by Dr. Khalid Khalafalla, CEO of ICIEC, a delegation of Export Development Fund and the top management of FCCI, led by Mr. Farooq Yousaf Sheikh, President – FCCI. The event was also attended by key representatives of the local export sector.
The inauguration marks an important step in Pak EXIM’s efforts to strengthen its presence across Pakistan’s key export-oriented regions. With its presence in Faisalabad, one of the country’s major industrial and textile export hubs, Pak EXIM is bringing itself to the doorsteps of export-oriented businesses, enabling them to access the bank’s risk-mitigating export credit insurance and future products & services, securing their businesses against export-related commercial and political risks.
Addressing the gathering, President & CEO – Pak EXIM, Mr. Shahbaz Hussain Syed highlighted Pak EXIM’s commitment to strengthening Pakistan's export sector through its current trade/credit export insurance and the planned expansion of its product & services portfolio to include Advisory Services, Guarantees, Bonds, Financing, etc., further enhancing support for Pakistani business seeking to access, compete and prosper in international markets.
Dr. Khalid Khalafalla, CEO – ICIEC, stated “ICIEC is pleased to join Pak EXIM in celebrating the opening of its Faisalabad office, bringing vital risk-mitigation solutions closer to Pakistan’s exporters. We look forward to strengthening our partnership with Pak EXIM and supporting exporters in Faisalabad and beyond to compete confidently in global markets.”
Farooq Yousaf Sheikh, President – Faisalabad Chamber of Commerce & Industry (FCCI), termed the establishment of a Pak EXIM Sub-Office in Faisalabad, a major development. He appreciated the efforts of President & CEO – Pak EXIM, Mr. Shahbaz H. Syed, for ensuring Pak EXIM's physical presence in Faisalabad within a short period of just four months. President FCCI also welcomed the presence of Dr. Khalid Khalafalla, CEO - ICIEC and this team, who are currently visiting Pakistan as Pak EXIM's Reinsurance partner.
Faisalabad, as the country's leading textile and industrial hub, is a key contributor to Pakistan's exports, making access to specialised export financing essential for sustained growth. The initiative reflects Pak EXIM’s commitment to supporting the business community and promoting export-led economic growth across Pakistan.
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About ICIEC:
As a member of the Islamic Development Bank (IsDB) Group, ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and Shariah-compliant financial solutions. The Corporation is the only Islamic multilateral insurer in the world. ICIEC has led to delivering a comprehensive suite of solutions to companies and stakeholders across its 51 Member States. For the 18th consecutive year, ICIEC maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top tier of the Credit and Political Risk Insurance (CPRI) industry. Additionally, S&P has reaffirmed ICIEC's "AA-" long-term Issuer Credit and Financial Strength Rating for the third consecutive year, with a Stable Outlook. ICIEC's resilience is underpinned by its sound underwriting practices, a robust global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 138 billion in trade and investment. ICIEC's activities span several key sectors, including energy, manufacturing, infrastructure, healthcare, and agriculture.
For more information, visit: http://iciec.isdb.org
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Email: ICIEC-Communication@isdb.org
