Islamic Corporation for the Development of the Private Sector (ICD)
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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 and the Arab Tourism Organization sign a Memorandum of Understanding and Cooperation

Memorandum fulfils the objectives of the ICD, aiming at enhancing and improving the structures and mechanisms of cooperation among the member countries of the Organization of Islamic Cooperation

Under the patronage of His Excellency Dr. Bandar bin Fahd Al Fahid, President of the Arab Tourism Organization (ATO) - Mr. Ayman Amin Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-ps.org), member of the Islamic development Bank Group (IDBG), and His Excellency Mr.…

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

Islamic Development Bank (IsDB), Islamic Corporation for the Development of the Private Sector (ICD) and the Government of Burkina Faso Join Hands to Support the BRAVE Women Project in Burkina Faso

This new project is expected to not only enhance the resilience of SMEs owned/managed by women but to also support the National Economic and Social Development Plan (PNDES) of Burkina Faso

The Islamic Development Bank (IsDB) Group and its private sector development arm, the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-idb.org), have joined hands with the government of Burkina Faso through “Maison de l’Entreprise du Burkina Faso (MEBF)”, to implement the “Business Resilience Assistance for Value-adding Enterprises”…

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

The Republic of Maldives successfully prices its debut sovereign US$200 million 5-year Sukuk issuance

The Senior Unsecured 144A/ Reg S Sukuk will be issued from the recently established Maldives Sukuk Issuance Limited’s US$1.0 billion Trust Certificate Issuance Programme

The Ministry of Finance, on behalf of the Government of the Republic of Maldives, successfully priced a US$200 million debut sovereign Sukuk on 29 March 2021. The country’s first Sukuk issue will have a 5-year maturity and pays a 9.875% semi-annual coupon. The proceeds of the issuance will be used…

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

Signing of Line of Financing Agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Banque de l’Union - Côte d’Ivoire (BDU-CI)

ICD has extended Line of Financing facilities to several financial institutions in Sub Saharan countries for the development of the private sector

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-idb.org), the private sector arm of the Islamic Development Bank (IsDB) Group, and Banque de l’Union - Côte d’Ivoire (the Bank or BDU-CI), a member of the BDM Group, signed an agreement to finance private sector enterprises in Côte d’Ivoire.…

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

CIBAFI – ICD Webinar Focused on the Important Role that “Open Banking” Presents for Growth and Development of Islamic Banks

The webinar also looks at the Open Banking model opportunities and challenges associated with it

The General Council for Islamic Banks and Financial Institutions (CIBAFI) and the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-idb.org) have launched the first series of their joint webinars. CIBAFI – ICD Webinar on “Open Banking: A Driving Force for Islamic Banking Growth and Development” was successfully…

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 25 Million Line of Financing Agreement between the Islamic Corporation for the Development of the Private Sector and JSCB “Uzbek Industrial and Construction Bank”

The ICD extended its third Line of Financing facility to JSCB with the aim of promoting Islamic finance, improving financial inclusion and supporting private sector development in Uzbekistan

Mr. Ayman Amin Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-idb.org), and Mr. Sakhi Annaklichev, the Chairman of the Management Board of Uzbek Industrial and Construction Bank (JSCB), signed a USD 25 Million Shari’ah-compliant Line of Financing Agreement which will be utilized…

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

Signing of an Agency Agreement between Islamic Corporation for the Development of the Private Sector (ICD) and Islamic Development Bank (IsDB) for Implementation of R2 COVID Support Line of Finance

ICD is offering its expertise in implementation of R2 “Restore Program” COVID-19 Support in the area of Line of Finance transactions

H. E. Dr Bandar Hajjar, the President of the Islamic Development Bank Group (IsDBG) and Mr. Ayman Amin Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-idb.org), the private sector arm of IsDBG, signed an Agency Agreement for the implementation of IsDB Group’s R2…

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

Signing of the Advisory Services Agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Turonbank, Uzbekistan

Turonbank is one of the more recent partners of ICD and has been utilizing USD 10 million Line of Financing Facility granted by ICD to finance SMEs in Uzbekistan

Mr. Ayman Amin Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-idb.org), the private sector arm of the Islamic Development Bank Group (IsDBG), and Mr. Chori Sadibakosovich Mirzaev, Chairman of the Management Board of Turonbank, signed an Advisory Services Agreement in relation to…

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

Signing of memorandum of understanding (MoU) Between Development of the Private Sector (ICD) and SQB Securities, Uzbekistan

Mr. Sejiny stressed the importance of the MoU in increasing capacity-building, promoting knowledge-sharing and supporting greater sustainable access to finance across ICD member countries

Mr. Ayman Amin Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of the Islamic Development Bank (IsDB), and Mr. Amur Safaraliyevich Djalilov, the CEO of SQB Securities LLC (www.SQBS.uz), signed a MoU for the development of Islamic finance…

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

Refinitiv & Islamic Corporation for the Development of the Private Sector (ICD) 2020 Report: Global Islamic Finance Assets Expected to Hit $ 3.69 trillion in 2024

Islamic finance assets increased 14 percent to US$ 2.88 trillion in 2019, the highest recorded growth for the industry since the global financial crisis

Malaysia, Indonesia, Bahrain, UAE and Saudi Arabia ranked as the top five developed countries globally in Islamic Finance; Indonesia jumped to second place in IFDI ranking backed by government knowledge initiatives; Islamic finance assets increased 14 percent to US$ 2.88 trillion in 2019, the highest recorded growth for the industry…