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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 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…

Islamic Corporation for the Development of the Private Sector (ICD)

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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…

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

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…

Islamic Corporation for the Development of the Private Sector (ICD)

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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…

Islamic Corporation for the Development of the Private Sector (ICD)

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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…

Islamic Corporation for the Development of the Private Sector (ICD)

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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…

Islamic Corporation for the Development of the Private Sector (ICD)

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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…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • ICD’s Event Discusses Ways to Promote Cross-Border Disruptive Financial Services (1)
    • ICD’s Event Discusses Ways to Promote Cross-Border Disruptive Financial Services (2)
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

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…

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 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…

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 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…