In a strategic move to enhance Islamic trade and empower small and medium-sized enterprises (SMEs), Al Baraka Bank-Egypt has signed a landmark Bank Master Policy (BMP) with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), unlocking $50 million in Shariah-compliant trade finance.

The agreement, sealed during the Islamic Development Bank Group’s Annual Meetings 2025 in Algiers, marks a significant push toward strengthening Islamic finance infrastructure in Egypt and across ICIEC member states.

Dr. Khalid Khalafalla, CEO of ICIEC, and Mr. Ahmed Atteya, Head of the Financial Institutions Department at Al Baraka Bank-Egypt, signed the deal which is set to transform how trade finance risks are managed, allowing greater market access for Egyptian businesses.

“We are delighted to partner with Al Baraka Bank – Egypt on this landmark Policy. This agreement underscores our shared commitment to facilitating reliable, Shariah-compliant trade finance solutions that foster sustainable economic growth and resilience across our member states,” said Dr. Khalafalla.

The $50 million facility is designed to mitigate credit and political risks associated with cross-border transactions critical for expanding SME participation in international trade. It is expected to play a vital role in supporting Egypt’s trade diversification efforts and enhancing resilience in the face of global economic challenges.

This BMP is more than just a policy; it’s a bridge to broader economic empowerment, trade inclusivity, and sustainable development in the Islamic finance ecosystem.