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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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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…

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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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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…

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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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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 Alat Free Economic Zone Authority (AFEZA) Sign a Memorandum of Understanding

The MoU aims at exploring the possibility of providing diversified sources of funding to meet the growing demand of companies registered at AFEZ

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of the Islamic Development Bank Group (IsDB), and the Alat Free Economic Zone Authority (AFEZA) of the Republic of Azerbaijan have signed a Memorandum of Understanding (“MoU”). The MoU was signed by Mr. Ayman…

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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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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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ICD signs $10 million LoF facility agreement with TuranBank OJSC, Azerbaijan

The LoF facility will be used to finance private sector enterprises including small and medium enterprises (SMEs) affected by the COVID-19 pandemic

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of the Islamic Development Bank Group (IsDBG), has signed a US$10 million Shariah-compliant Line of Financing (LoF) facility agreement with TuranBank Open Joint-Stock Company (TB), Azerbaijan. The LoF facility will be used to finance…

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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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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…