Yesterday in Ashgabade taked place the ceremony of signing of Cooperation Agreement between Nurbank and Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). Nurbank is the first of the Kazakhstan banks which can provide to the clients with possibility to take advantage of services in insurance and export financing and investment transactions with partners from ICIEC member countries in the sum up to $150 million US dollars.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development Group. ICIEC was established on 1st August 1994 as an international institution with full juridical personality. The idea for the establishment of an entity to provide investment and export credit insurance for Islamic Countries originated from the Agreement for the Promotion, Protection and Guarantee of Investment in among Member Countries of the Organization of the Islamic Conference.

Earlier, in April, 2009 Nurbank already concluded the Line of Trade Finance Agreement with other subsidiary company of Islamic Development Bank — International Islamic Trade Financial Corporation for the purpose of financing of small and medium business.

Nurbank JSC is among the ten largest banks of Kazakhstan. According to audited consolidated IFRS Bank’s financial statements as of 01.01.09 the Assets of the Bank have made KZT 298.8 bln. comparing to KZT 198.7 bln. at 01.01.08, Customer Deposits have made KZT 185.5 bln with the growth within a year for amount of KZT 126,7 bln.