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    • The 2nd ICD – CIBAFI Webinar Discussed the Emergence of Cryptocurrencies and its Potential for the Growth of Islamic Finance Industry
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The 2nd ICD – CIBAFI Webinar Discussed the Emergence of Cryptocurrencies and its Potential for the Growth of Islamic Finance Industry

Cryptocurrencies have been emerging as a new digital means for payment facilitating efficient, convenient, and secure transactions

The General Council for Islamic Banks and Financial Institutions (CIBAFI) and the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) joined forces for the second time this year to fuel a discussion on “Cryptocurrencies – A Double-edged Sword: Challenges and Opportunities for Islamic Finance”. Cryptocurrencies have been…

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ICD provides USD 50 million financing to ALAFCO Aviation Lease and Finance Company K.S.C.P., Kuwait

ICD’s financing will strengthen the operations of ALAFCO and help it to be well prepared as economic activities and travel picks up

Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-PS.org) and ALAFCO Aviation Lease and Finance Company K.S.C.P.(“ALAFCO”) signed a four-year syndicated secured financing agreement for USD 75 million with a USD 50 million participation from ICD making it the lead financier in the transaction. While the aviation sector…

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    • The Role of Awqaf in the Vision 2030 and SDGs in the Kingdom of Saudi Arabia
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The Role of Awqaf in the Vision 2030 and SDGs in the Kingdom of Saudi Arabia

A Study by the Islamic Corporation for the Development of the Private Sector (ICD) and the United Nations

The United Nations in the Kingdom of Saudi Arabia (UN in KSA) and the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) today launched a research paper on ‘Awqaf for the Achievement of Vision 2030 and the Sustainable Development Goals (SDGs)’. Awqaf – Islamic endowments – have…

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    • Islamic Corporation for the Development of the private sector (ICD) Signs Line of Finance Agreements with Four Uzbekistan Banks
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Islamic Corporation for the Development of the private sector (ICD) Signs Line of Finance Agreements with Four Uzbekistan Banks

The agreements were signed in Tashkent, Republic of Uzbekistan, during the Annual Meetings of the Islamic Development Bank (IsDB)

The Islamic Corporation for the Development of the private sector (ICD) (www.ICD-ps.org), a member of the Islamic Development Bank Group (IsDBG), has signed Line of Financing (LoF) agreements with four banks in Uzbekistan, granting a total of $40 million. These include LoF of $10 million for Kapitalbank, $10 million for…

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ICD and AIH Signed a Collaboration MoU to Develop and Strengthen the Azerbaijan Private Sector

Under the MoU both parties will co-operate in exploring the possibility of supporting the companies under AIH portfolio for the potential issuance of sukuk

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), and Azerbaijan Investment Holding (AIH) have signed a Memorandum of Understanding (MoU) to establish a framework of cooperation between the two parties for the furtherance of their…

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    • ICD’s Event Discusses Ways to Promote Cross-Border Disruptive Financial Services (1)
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ICD’s Event Discusses Ways to Promote Cross-Border Disruptive Financial Services

ICD also aimed to update solution providers and executers with the latest regulations and policy updates

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), a member of the Islamic Development Bank Group (IDBG), organized a side event titled “Role of ICD’s Bridge Platform in Digitalization and Restoring businesses after COVID-19 pandemic” On 3rd September 2021. ICD objective behind the event was to…

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    • Islamic Corporation for the Development of the Private Sector (ICD) and AzerGold Sign a Memorandum of Understanding
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Islamic Corporation for the Development of the Private Sector (ICD) and AzerGold Sign a Memorandum of Understanding

The cooperation aims at exploring the possibility of Sukuk issuance in order to meet growing demand for AzerGold project financing requirements

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 AzerGold, a closed joint-stock company in the Republic of Azerbaijan, signed a Memorandum of Understanding (“MoU”) during the 46th IsDB Annual Meeting in Tashkent, Uzbekistan on 02…

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    • Islamic Corporation for the Development of the Private Sector (ICD) and Sanoat Qurilish Bank (SQB) Sign a Collaboration MoU to Develop and Strengthen the Private Sector in Uzbekistan
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Islamic Corporation for the Development of the Private Sector (ICD) and Sanoat Qurilish Bank (SQB) Sign a Collaboration MoU to Develop and Strengthen the Private Sector in Uzbekistan

The MoU was signed by Mr. Ayman Amin Sejiny, CEO of ICD and Mr. Sakhi Annaklichev, Chairman of the Board of SQB

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), and Sanoat Qurilish Bank (SQB) have signed a Memorandum of Understanding (MoU) to establish a framework of cooperation between the two parties for the furtherance of their…

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    • Signing of a Line of Financing agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Jaiz Bank-Nigeria (1)
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Signing of a Line of Financing agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Jaiz Bank-Nigeria

ICD’s LOF facility will help to expand Jaiz Bank’s customer base by provision of Shariah-compliant financing

Mr. Ayman Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of IsDB Group, and Mr. Hassan Usman, the Managing Director & CEO of Jaiz Bank-Nigeria, signed a USD 25 Million Shariah-compliant Line of financing (LoF) agreement to support…

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    • Signing of the Line of Financing agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Banque Nationale pour le Développement Economique (BNDE)-Senegal
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Signing of the Line of Financing agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Banque Nationale pour le Développement Economique (BNDE)-Senegal

The facility comes under the allocation of ICD’s USD 200 Mn COVID-19 Line of Financing Support Package to support the private sector affected by the pandemic

Mr. Ayman Sejiny, the CEO of The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of IsDB Group, and Mr. Thierno SY, the CEO of the Banque Nationale pour le Developpement Economique (BNDE)-Senegal, signed a EUR 12 Million Shariah-compliant Line of financing agreement…