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

Signing of a USD 15 Million Murabaha Facility Agreement Between The Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Company Joint Venture (JSC JV) “Uzbek Leasing International A.O.”

ICD has extended its fourth Murabaha financing facility to Uzbek Leasing International with the aim of promoting Islamic finance, improving financial inclusion, and supporting private sector development in Uzbekistan

ICD (www.ICD-ps.org) signed a $15 million Murabaha Facility Agreement with Uzbek Leasing International; The LoF will help financial institution to further increase on-financing to SMEs in Uzbekistan; ICD focuses on increasing access to Islamic finance by channeling funds to established financial institutions in its member countries The Islamic Corporation for…

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

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    • Signing of a USD 25 Million Line of Financing Agreement between Islamic Corporation for the Development of the Private Sector (ICD) and Joint Stock Commercial Bank (JSCB) “Agrobank”
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Signing of a USD 25 Million Line of Financing Agreement between Islamic Corporation for the Development of the Private Sector (ICD) and Joint Stock Commercial Bank (JSCB) “Agrobank”

Mr. Azamat Turaev, the Deputy Chairman of the Management Board of Agrobank praised the quality of the partnership between the two institutions

Eng. Hani Salem Sonbol, the Officer-In-Charge Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), and Mr. Azamat Turaev, the Deputy Chairman of the Management Board of Joint Stock Commercial Bank “Agrobank” (Agrobank), signed a USD 25 Million Shari’ah-compliant Line of Financing Agreement…

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)

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    • Women's Entrepreneurship Training Program in the Fashion Industry (1)
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Women's Entrepreneurship Training Program in the Fashion Industry

The Program is tailored and designed to build the capabilities and skills of the participating women entrepreneurs

The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-PS.org/en), J.P. Morgan (https://JPMorgan.com) and Nafisa Shams Academy and incubator are announcing the official launching of a joint program for training and incubation in the fashion sector in Saudi Arabia (the “Program”).  The Program is dedicated to women entrepreneurs with…

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…

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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…

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

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…

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

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…

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)
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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…