Pak EXIM, ICIEC Partnership Opens New Avenues for Pakistani Exporters

KARACHI, September 04, 2026 - The Export-Import Bank of Pakistan (Pak EXIM) and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a reinsurance agreement in Karachi to enhance export credit insurance coverage for Pakistani exporters and strengthen their protection against payment risks.

The agreement was signed during the “Partnerships That Power Progress” event held in Karachi, bringing together senior representatives of Pak EXIM, ICIEC, Habib Bank Limited (HBL), the Export Development Fund (EDF), State Bank of Pakistan and the banking and business community.

Speaking on the occasion, President & CEO Pak EXIM Bank Shahbaz H. Syed said Pak EXIM, with the support of the Government of Pakistan, was committed to supporting and promoting small and medium enterprises (SMEs). 

“By bringing reinsurance support through ICIEC, we are taking an important step towards supporting SMEs, helping them overcome business challenges and providing financial security as they venture into international markets,” he added.

CEO ICIEC H.E. Dr. Khalid Khalafalla described the agreement as an important step towards bringing real business opportunities to Pakistan. He said it would provide Pakistani exporters with an excellent opportunity to venture into new international markets.

Dr. Khalid Khalafalla said the country possessed significant business potential that needed to be explored. As exports expanded, he said new business ventures would also enter Pakistan, creating greater financial opportunities. He added that ICIEC would provide its expertise to support EDF and Pak EXIM in promoting SMEs and the private business sector.

Chief Guest Dr. Ishrat Hussain said Pak EXIM Bank was crucial for Pakistan’s economy as it provided exporters with the confidence and support required to enter international markets. He said reducing business risks would encourage new ventures, strengthen exports and promote export-led growth.

Dr. Hussain stressed that Pak EXIM’s leadership should ensure that the institution remained autonomous and operated independently, while appreciating the Government of Pakistan for supporting this vision. 

He said Pakistan, being part of a dynamic Asian region where artificial intelligence was rapidly transforming economies, must focus on enabling SMEs to penetrate international markets and increase exports.

CEO Pakistan Business Council Javed Kureishi said that the Export Development Fund, revamped under Prime Minister Muhammad Shehbaz Sharif, was transitioning towards greater private-sector support and promoting export-led businesses by reducing payment risks.

CEO HBL Muhammad Nassir Salim termed the partnership and signing of the reinsurance agreement a historic milestone. He said the Maiden Bank Master Policy (BMP) would further support exporters in venturing into international markets and facilitate their access to relevant financial facilities.