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

Signing of the USD 10 Million Line of Financing Agreement and an Advisory Agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Asia Alliance Bank (AAB), Uzbekistan

The USD 10 Million Shari’ah - compliant Line of Financing facility based on Wakala structure will be utilized by AAB to provide financial support to the private sector in Uzbekistan

The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-PS.org/), the private sector arm of the Islamic Development Bank Group (IsDBG), signed with Asia Alliance Bank (AAB) a USD 10 Million Line of Financing Agreement to support small and medium enterprises (SMEs) in Uzbekistan and an Advisory Agreement…

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

Islamic Finance Development Indicator (IFDI) 2019 witnesses shifting dynamics in Islamic finance

Developed markets continue to revise Islamic finance regulations and frameworks

Islamic finance assets grow 3 percent in 2018 to US$ 2.5 trillion; the Sukuk asset class continues strong growth, rising 10 percent in 2018 to US$ 470 billion; developed markets continue to revise Islamic finance regulations and frameworks; Islamic FinTech gained pace with the issuance of blockchain-based micro-Sukuk and a…

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

Islamic Corporation for the Development of the Private Sector (ICD) and Private Joint-Stock Bank (PJSB) “Trustbank” met and signed a collaboration Memorandum of Understanding (MoU) in Uzbekistan

The cooperation between Trustbank and ICD started on July 9, 2018, during the visit of the Trustbank’s delegation to Jeddah (Saudi Arabia)

On June 10, 2019, the management of the Private Joint-Stock Bank “Trustbank” (Trustbank.uz/en) welcomed the delegation of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), headed by the CEO, Mr. Ayman Sejiny. The meeting was held in the framework of strengthening the cooperation between the two…

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

Islamic Corporation for the Development of the Private Sector (ICD) Board of Directors names Mr Ayman Sejiny as General Manager (CEO)

Mr. Ayman Amin Sejiny is highly accomplished financial industry leader

The Board of Directors of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) in its 91st Meeting held on 3/9/2018 approved appointment of Mr. Ayman Amin Sejiny, as General Manager (CEO) of ICD. Dr. Bandar Hajjar, the President of IsDB and Chairman of ICD Board of…

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

The Islamic Corporation for the Development of the Private Sector (ICD) announces the signing of a bilateral agreement with Sumitomo Mitsui Banking Corporation (SMBC)

ICD is committed to supporting Japan as the country works toward further developing the Islamic finance capabilities of its well-established financial institutions

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of Islamic Development Bank (IDB) Group (www.IsDB-pilot.org), and Sumitomo Mitsui Banking Corporation Europe Limited, a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC) (www.SMBCgroup.com) have signed a bilateral agreement today.   The agreement is one…

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

The Islamic Corporation for the Development of the Private Sector (ICD) Signs Memorandum of Understanding with JANA to Test New Banking Model

Both parties agreed that JANA will be incorporating the new model as a test case in its Qarde Hasanah Programme, which is now being operated in different parts of Saudi Arabia

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of Islamic Development Bank (IDB) Group (www.IsDB-pilot.org), signs today a Memorandum of Understanding (MoU) with JANA Bena’a Productive Families (www.JANA-SA.org) of Saudi Arabia in order to test a new banking model named “Biniog Sathi”.…

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

The Islamic Corporation for the Development of the Private Sector (ICD) has been honoured with two prestigious awards in Kuala Lumpur

The two winning deals include ‘Best Deal, Saudi Arabia’ which was a USD300 million wakala sukuk and also the first public issuance for ICD, and ‘Best Deal, Bangladesh’, which was a USD32 million syndicated term finance facility for Noman Group in which ICD acted as the co-arranger

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of Islamic Development Bank (IDB) Group, was presented with two prestigious awards at The Asset Triple A Islamic Finance Awards ceremony in Kuala Lumpur, Malaysia today. The two winning deals include ‘Best Deal, Saudi…

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

ICD Extends $5 Million Line of Finance Facility to Arab Gambian Islamic Bank

The collaboration will focus on developing private sector, supporting economy, strengthening the balance sheet of the Bank, improving the living standard of the population by creating jobs, generating tax revenues for the government and promoting Islamic Banking in the country

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and Agib Bank Ltd (www.AGIB.gm) have entered into a Joint Strategic Collaboration to finance private sector entities in The Gambia. On behalf of the CEO of ICD, Mr Khaled Al Aboodi,…

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

ICD and FINOKO signed a MoU to cooperate in the establishment of the Islamic Microfinance Window

The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Turan Ismayilov the Chief Executive Officer of FINOKO sign the Agreement during IDB 42nd annual meeting at hotel Hilton in Jeddah

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and FINOKO have entered into a Joint Strategic Collaboration to establish an Islamic Microfinance Window. The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Turan Ismayilov the Chief Executive Officer…

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

ICD Signs MOU with the City Bank Limited to Strengthen Collaboration

The joint collaboration will encompass the areas of Term Finance, Public Private Partnership transactions, Lines of Finance and any other areas of mutual interest

On May 18, 2017, the Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of Islamic Development Bank (IDB) Group signed a Memorandum of Understanding with City Bank, Bangladesh in order to strengthen collaboration for fostering private sector development in the country. The signing…