Pak EXIM, ICIEC Partnership Opens New Avenues for Pakistani Exporters

The Export-Import Bank of Pakistan (Pak EXIM) and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) have signed a reinsurance agreement in Karachi.

The partnership aims to expand export credit insurance coverage for Pakistani exporters. It will also strengthen protection against payment risks in international trade.

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

Pak EXIM Highlights Support for SMEs

Speaking at the event, Pak EXIM Bank President and CEO Shahbaz H. Syed said the institution remained committed to supporting small and medium enterprises.

He said reinsurance support from ICIEC would strengthen the financial protection available to SMEs. Moreover, the partnership could help businesses overcome challenges as they enter international markets.

Defenders of the Waves of the Motherland

“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 said.

ICIEC Sees New Export Opportunities

ICIEC CEO H.E. Dr Khalid Khalafalla described the agreement as an important step towards creating new business opportunities in Pakistan.

He said Pakistani exporters could use the partnership to explore new international markets. In addition, he highlighted the country’s significant business potential.

According to Dr Khalid Khalafalla, expanding exports could also encourage new business ventures and create wider financial opportunities.

Meanwhile, he said ICIEC would provide its expertise to support the Export Development Fund and Pak EXIM in promoting SMEs and the private sector.

Ishrat Hussain Calls Pak EXIM Vital for Economy

Chief Guest Dr Ishrat Hussain said Pak EXIM Bank plays an important role in Pakistan’s economy.

He noted that the institution gives exporters greater confidence when entering international markets. Therefore, reducing business risks could encourage new ventures, strengthen exports and support export-led economic growth.

Dr Hussain also stressed the importance of maintaining Pak EXIM’s autonomy and independent operations. At the same time, he appreciated the government’s support for this vision.

Pakistan must also help SMEs compete in international markets, he said. He pointed to the rapid transformation caused by artificial intelligence across Asia and stressed the need to increase the country’s export capacity.

EDF Focuses on Export-Led Businesses

Pakistan Business Council CEO Javed Kureishi said the Export Development Fund had been revamped under Prime Minister Muhammad Shehbaz Sharif.

He said the fund was moving towards greater private-sector support. Moreover, it was focusing on export-led businesses while helping reduce payment risks.

The shift could provide businesses with stronger support as they seek opportunities in international markets.

HBL Calls Partnership a Historic Milestone

HBL CEO Muhammad Nassir Salim described the partnership and reinsurance agreement as a historic milestone.

He said the Maiden Bank Master Policy (BMP) would provide further support to exporters. It could also help businesses enter international markets and gain access to relevant financial facilities.

Overall, the agreement brings together key institutions to strengthen Pakistan’s export financing and insurance ecosystem. For Pakistani SMEs, improved protection against payment risks could make international expansion more accessible.