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Islamic Corporation for the Development of the Private Sector (ICD)

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    • International Islamic Trade Finance Corporation (ITFC) and Islamic Corporation for the Development of the Private Sector (ICD) sign a Memorandum of Understanding (MOU) with the Kingdom of Morocco
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

International Islamic Trade Finance Corporation (ITFC) and the Islamic Corporation for the Development of the Private Sector (ICD) sign a Memorandum of Understanding (MOU) with the Kingdom of Morocco

ITFC intends to provide financing of up to $100 million to support the import of strategic goods and enhance the efforts of Moroccan companies in the export sector

The memorandum aims to provide a general framework that facilitates cooperation between the parties and enhances economic and social development capabilities; ITFC intends to provide financing of up to $100 million to support the import of strategic goods and enhance the efforts of Moroccan companies in the export sector; A…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) to Launch Roadshow for Groundbreaking Tenge Sukuk

The Islamic Corporation for the Development of the Private Sector (ICD) is proud to announce that it has enlisted the services of Tengri Partners Investment Banking to organize investor meetings in advance of a five-year Tenge-denominated sukuk

Islamic Corporation for the Development of the Private Sector (ICD) (http://www.ICD-ps.org) is launching a potential five-year Tenge sukuk to expand its operational assets in Kazakhstan and support local lending; this could be the first-ever tenge sukuk by a Development Financial Institution and will be an amortized Sukuk with all payments…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for The Development of The Private Sector (ICD) and Microcreditbank Sign US$30 Million Deal to Boost Small and Medium Enterprises (SMEs) in Uzbekistan

This is the third time ICD has extended such a facility to Microcreditbank, showing its strong commitment to supporting Islamic finance and private sector development in its member countries

Third Line of Finance Agreement between ICD (http://www.ICD-ps.org) and Microcreditbank to support private sector development in Uzbekistan; Funds will be used to provide microfinance services and finance eligible private sector enterprises, especially SMEs; Agreement shows commitment to promoting Islamic finance and financial inclusion in Uzbekistan. A new US$30 million Line…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • New Horizons for Egypt's Private Sector: Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023 (1)
    • New Horizons for Egypt's Private Sector: Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023 (2)
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

New Horizons for Egypt's Private Sector: Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023

The program includes expanding credit lines for financial institutions operating in Egypt, worth a total amount of $80 million to support private sector companies, particularly small and medium enterprises

The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-ps.org) has signed a new program worth $120 million for the year 2023 to propel private sector-led development in Egypt; The program includes expanding credit lines for financial institutions operating in Egypt, worth a total amount of $80 million to…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) and Private Joint Stock Bank "Trustbank" Partner to Provide USD 20 Million In Financing for Private Sector Businesses in Uzbekistan

This Line of Finance facility marks the third extended by ICD to Trustbank and aims to promote Islamic finance, improve financial inclusion, and support private sector development in Uzbekistan

ICD (https://ICD-ps.org) and Trustbank have signed a USD 20 million Line of Finance Agreement. The facility will be used to finance private sector businesses, with a focus on Small and Medium Enterprises (SMEs), in Uzbekistan. The Line of Finance aims to promote Islamic finance, improve financial inclusion, and support private…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) Sign Four Letters of Intent and Strengthen the Ties with the Private Sector Actors in Uzbekistan

The LOI came to support the commitment of IsDB Group to provide a framework for facilitating cooperation between the group entities and relevant Uzbek parties

ICD (https://ICD-ps.org) signed four Letters of Intent (LOI) with Aloqabank, Microcreditbank, Trustbank, and Turonbank in Uzbekistan for a potential Lines of Finance of USD 105 million in total; The projected Lines of Finance (LoF) will help the four banks to finance eligible private sector enterprises including SMEs in the Republic of…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Signing of a USD 15 Million Murabaha Facility Agreement Between The Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Company Joint Venture (JSC JV) “Uzbek Leasing International A.O.”

ICD has extended its fourth Murabaha financing facility to Uzbek Leasing International with the aim of promoting Islamic finance, improving financial inclusion, and supporting private sector development in Uzbekistan

ICD (www.ICD-ps.org) signed a $15 million Murabaha Facility Agreement with Uzbek Leasing International; The LoF will help financial institution to further increase on-financing to SMEs in Uzbekistan; ICD focuses on increasing access to Islamic finance by channeling funds to established financial institutions in its member countries The Islamic Corporation for…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Signing of a USD 25 Million Line of Financing Agreement between Islamic Corporation for the Development of the Private Sector (ICD) and Joint Stock Commercial Bank (JSCB) “Agrobank”
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Signing of a USD 25 Million Line of Financing Agreement between Islamic Corporation for the Development of the Private Sector (ICD) and Joint Stock Commercial Bank (JSCB) “Agrobank”

Mr. Azamat Turaev, the Deputy Chairman of the Management Board of Agrobank praised the quality of the partnership between the two institutions

Eng. Hani Salem Sonbol, the Officer-In-Charge Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), and Mr. Azamat Turaev, the Deputy Chairman of the Management Board of Joint Stock Commercial Bank “Agrobank” (Agrobank), signed a USD 25 Million Shari’ah-compliant Line of Financing Agreement…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • The Islamic Corporation for the Development of the Private Sector (ICD) Signs MoU with PT Bank NTB Syariah to Establish a Strategic Cooperation under their Respective Mandates
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) Signs MoU with PT Bank NTB Syariah to Establish a Strategic Cooperation under their Respective Mandates

The MoU outlines the parameters of ICD’s mandates to cooperate and work closely together with Bank NTB Syariah in treasury

Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of the Islamic Development Bank Group (IDB), and PT Bank NTB Syariah (Bank NTB Syariah) signed a Memorandum of Understanding (MoU) to establish a strategic cooperation in accordance with their respective mandates. The Chief Executive…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Senegal Issues XOF 330BN Sukuk

Proceeds from the issuance will be utilized to finance the acquisition of buildings to be used as administrative offices, as well as financing of various other strategic government projects

The Republic of Senegal, through the Société Nationale de Gestion et d’Exploitation du Patrimoine Bâti de l’État (SOGEPA SN)[1], sold XOF 330bn (around USD 525.4m) in three-tranche Sukuk Ijarah, attracting orders from regional and Middle Eastern investors. The first tranche is a seven-year Sukuk; the second is a 10-year tranche, and…