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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)
    • 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 (2)
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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…

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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…