Islamic Corporation for the Development of the Private Sector (ICD)
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    • Islamic Corporation for the Development of the Private Sector (ICD) and Banque Misr Sign letter of intent to provide $30M line of finance for small and medium enterprises (SME) in Egypt (1)
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Islamic Corporation for the Development of the Private Sector (ICD) and Banque Misr Sign letter of intent to provide $30M line of finance for small and medium enterprises (SME) in Egypt

In the presence of the Egyptian Ministers of Planning, Supply, Petroleum, the Islamic Corporation for the Development of the Private Sector signed a letter of intent with Banque Misr to provide $30 million line of finance to support small and medium enterprises in Egypt

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), a member of the Islamic Development Bank (IsDB) group, signed a letter of intent with Banque Misr to provide a $30 million financing line dedicated to finance private sector projects in Egypt and to support small and medium…

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The Islamic Corporation for the Development of the Private Sector (ICD) returns to the Dollar market with tight five-year print

The proceeds from the sukuk issuance will be invested in development assets, facilitating its mission to foster economic growth and development initiatives across 56 member countries

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), a Jeddah-based supranational, has printed a USD 500 million Sukuk maturing in February 2029. The Sukuk issuance, which was oversubscribed with an orderbook over USD 2.2 billion, subscribed by 4.2 times from 46 investors, demonstrating the confidence of…

Islamic Corporation for the Development of the Private Sector (ICD)
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    • Launch of Islamic Corporation for the Development of the Private Sector (ICD) - London Stock Exchange Group (LSEG) Islamic Finance Development Report 2023: Navigating Uncertainty
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Launch of Islamic Corporation for the Development of the Private Sector (ICD) - London Stock Exchange Group (LSEG) Islamic Finance Development Report 2023: Navigating Uncertainty

Global Islamic finance assets expected to reach US$6.7 trillion by 2027

Green and sustainability Sukuk represents a key theme at COP28; Global ESG Sukuk issuance totaled US$8.4 billion in 2022; Growth of total Islamic finance assets by 11% to US$4.5 trillion in 2022; Malaysia, Saudi Arabia, and Indonesia lead Islamic finance development; US$788 billion total global Sukuk outstanding last year; Multiple growth channels to drive Islamic…

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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…

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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…

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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…

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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)
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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…

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…

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…

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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…