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The Islamic Corporation for the Development of the Private Sector Signs a MoU with Green Delta Capital Limited in Bangladesh
Under this MOU, both parties will work together regarding sourcing, structuring and implementing various financing transactions in Bangladesh
Bangladesh is one of ICD’s member countries and since the beginning of ICD operations, we disbursed around USD 153 million in favor of Bangladeshi projects and banks
The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of Islamic Development Bank (IDB) Group, in partnership with Green Delta Capital Limited (GDCL), have signed a memorandum of understanding (MoU). Under this MOU, both parties will work together regarding sourcing, structuring and implementing various financing transactions in Bangladesh.
Mr. Farid Masmoudi, Director, Direct Investments and Financing Department & Member of the Management Committee of ICD, and Mr. Rafiqul Islam, Managing Director and CEO of Green Delta Capital signed the MoU on behalf of their respective organizations.
During the MOU signing event, Mr. Farid Masmoudi said, “Bangladesh is one of ICD’s member countries and since the beginning of ICD operations, we disbursed around USD 153 million in favor of Bangladeshi projects and banks. It is also worth to mention that our future pipeline includes financing proposals of two Power Plants, and one Sugar Refinery. We are also keen to grow ICD involvement with Bangladeshi projects over time.”
Mr Rafiqul Islam said, “I am pleased to take a step forward in our strong partnership with ICD and this is another historical moment for GDCL. The MOU between GDCL and ICD is a milestone in the country where our strong collaboration and friendship will address the significant financing needs in Bangladesh for the private sector to bring more sustainable business model in line with national goal to be a “Middle Income Country” by 2021.”
The signing ceremony was followed by a press conference where the participants discussed about the newer avenues and more opportunities to be obtained from this MOU.
Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).
The Islamic Corporation for the Development of the Private Sector Signs a MoU with Green Delta Capital Limited in Bangladesh
About the Islamic Corporation for the Development of the Private Sector (ICD):
ICD (www.ICD-PS.org) is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Sharia’a. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information, visit www.ICD-PS.org.
About Green Delta Capital Limited (GDCL):
Green Delta Capital Limited (GDCL), a full-fledged Merchant Bank incorporated in Bangladesh, licensed and regulated by Bangladesh Securities and Exchange Commission (BSEC). GDCL is a fully owned subsidiary of Green Delta Insurance Company Limited where International Financial Corporation (IFC, a World Bank Group Concern) is the equity partner of the parent company. GDCL is the leading Merchant Bank in Bangladesh with providing full-fledged Investment Banking services including traditional Merchant Banking activities. GDCL has strong footprint in Bangladesh markets to execute large debt & equity deals in various sectors including Infrastructure, RMG, Pharmaceuticals, FMCG, Power & Energy, Manufacturing, etc. GDCL has so far raised $141 million as debt from global markets, BDT 5,574 Million as local debt, BDT 6,319+ Million as equity. They are specialized in providing Structured Finance & Corporate Advisory, Equity Origination, Merger & Acquisition Advisory, Private Equity, Portfolio Management and Wealth Management Services with customized solutions.