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…

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…

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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…

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…

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    • Islamic Corporation for the Development of the Private Sector (ICD) and Union of Banks of Kyrgyz Republic held a webinar on viable alternative financing tools
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) and Union of Banks of Kyrgyz Republic held a webinar on viable alternative financing tools

The webinar introduced the ICD Line of Financing Product as an alternative financing tool to finance SMEs and their projects via local banks and non-banking financial institutions

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) Group, and the Union of Banks of Kyrgyz Republic (UB), jointly held a webinar on 18th May 2022 and discussed a roadmap on viable alternative financing tools in the…

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    • Islamic Corporation for the Development of the Private Sector (ICD) and Partner Provide Financing to Indonesia Multifinance Company for SME Sectors
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Islamic Corporation for the Development of the Private Sector (ICD) and Partner Provide Financing to Indonesia Multifinance Company for SME Sectors

The financing raised via Murabaha financing structure, shall meet MFIN’s funding requirements for the financing of new two-wheeled motor vehicles

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”) Group, signed a Shari’ah compliant Line of Financing agreement with PT Mandala Multifinance Tbk (“MFIN”) for an amount of USD 30 million (total facility of up to USD…

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    • IsDBI and Islamic Corporation for the Development of the Private Sector (ICD) Organize Training Programs for 4 Uzbek Commercial Banks Planning to Establish Islamic Windows
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

IsDBI and Islamic Corporation for the Development of the Private Sector (ICD) Organize Training Programs for 4 Uzbek Commercial Banks Planning to Establish Islamic Windows

The training programs were delivered in the local Uzbek language from 24 January to 25 February 2022 by experienced Islamic Finance experts

Back-to-back training programs for four conventional banks on “Islamic Banking and Finance: Fundamental Concepts and Applications” have been conducted in Uzbekistan. The programs were developed by the Islamic Development Bank Institute (IsDBI) in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector…

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    • Islamic Corporation for the Development of the Private Sector (ICD) and University of Business and Technology (UBT) Launch a Financial Inclusion, Financial Literacy Training and Education Program (1)
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Islamic Corporation for the Development of the Private Sector (ICD) and University of Business and Technology (UBT) Launch a Financial Inclusion, Financial Literacy Training and Education Program

This program will use ICD’s FinLit Platform as the main vehicle to deliver the education and training courses to millions of beneficiaries internationally and more specifically to ICD’s member countries

The Islamic Corporation for the Development of the Private Sector (ICD) (ICD-PS.org) and the Executive Education of the University of Business and Technology (UBT Executive Education) are announcing the official launching of a joint education program to provide high-quality education and training courses in the subject of Financial Literacy (FinLit) and…

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

Women's Entrepreneurship Training Program in the Fashion Industry

The Program is tailored and designed to build the capabilities and skills of the participating women entrepreneurs

The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-PS.org/en), J.P. Morgan (https://JPMorgan.com) and Nafisa Shams Academy and incubator are announcing the official launching of a joint program for training and incubation in the fashion sector in Saudi Arabia (the “Program”).  The Program is dedicated to women entrepreneurs with…

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    • Global development finance coalition commits over USD 5.5 billion for Micro, Small & Medium Enterprises (MSME) financing in Africa
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Global development finance coalition commits over USD 5.5 billion for Micro, Small & Medium Enterprises (MSME) financing in Africa

Coalition exceeds its USD 4 billion target by 40% in an effort to help MSMEs face the Covid-19 pandemic

The coalition for a sustainable and inclusive recovery of the private sector ( https://bit.ly/3oV8zOV), an international group of 20 development finance institutions that came together in 2020, today announced commitments of over USD 5.55 billion of financing to small and medium size enterprises (MSMEs) in Africa between mid-2020 and end…