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

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    • Metin Akdoğan, Deputy CEO of Golden Global Investment Bank and Eng. Hani Salem Sonbol, Acting CEO of ICD
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Golden Global Investment Bank Signs Letter of Intent for $20M Line of Finance from the Islamic Development Bank Group

The line will be utilized by Golden Global Investment Bank for onward financing of eligible private sector projects in Türkiye

Negotiations between the Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-ps.org) and Golden Global Investment Bank have successfully concluded with the signing of a letter of intent, for the proposed extension of a USD 20 million line of finance facility, during the IsDB Group's 2024 Private Sector…

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 JSC Ziraat Bank Uzbekistan Collaborate to Boost the Private Sector in Uzbekistan
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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 JSC Ziraat Bank Uzbekistan Collaborate to Boost the Private Sector in Uzbekistan

This agreement initiates a partnership between ICD and JSC Ziraat Bank Uzbekistan, reflecting ICD’s strategic commitment to bolstering private sector growth within its member nations

ICD (http://www.ICD-ps.org) and Ziraat Bank Uzbekistan signed an Expression of Intent for the USD 10 million Line of Financing Facility aimed at supporting eligible private sector projects in Uzbekistan; This agreement initiates a partnership between ICD and JSC Ziraat Bank Uzbekistan, reflecting ICD’s strategic commitment to bolstering private sector growth within its…

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 11 Transformative Agreements Aimed at Spearheading Private Sector Expansion in Member Countries
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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) Signs 11 Transformative Agreements Aimed at Spearheading Private Sector Expansion in Member Countries

These agreements underscore ICD’s commitment to driving sustainable growth and prosperity through strategic partnerships and financial support

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org) is pleased to announce the signing of 11 pivotal agreements aimed at fostering economic development and facilitating private sector growth and access to capital in several of its member countries. These agreements underscore ICD’s commitment to driving sustainable…

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

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    • The Islamic Corporation for the Development of the Private Sector (ICD) Signs 13 Landmark Agreements to Promote Private Sector Growth in its Member Countries
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) Signs 13 Landmark Agreements to Promote Private Sector Growth in its Member Countries

The signing of these agreements reinforce ICD's commitment to propelling solidarity and prosperity through strategic partnerships and promoting access to finance and financial inclusion in its member countries

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), a member of the Islamic Development Bank (IsDB) Group, is pleased to announce the signing of 13 significant agreements aimed at catalyzing economic development and bolstering private sector growth and initiatives across several member countries in diverse regions…

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 Letters of Intent for Line of Finance Facilities with Uganda Development Bank Limited and Afreximbank
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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) Signs Letters of Intent for Line of Finance Facilities with Uganda Development Bank Limited and Afreximbank

The line of finance facilities aim at fostering economic growth and development in Uganda and across the common member countries of ICD and Afreximbank

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) signed two significant Letters of Intent for a total of USD 150 Million Line of Finance facilities  with Uganda Development Bank Limited (“UDBL”) and the African Export–Import Bank (“Afreximbank”). The line of finance facilities aim at fostering economic growth and…

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

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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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…

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

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…