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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) |

Senegal Issues XOF 330BN Sukuk

Proceeds from the issuance will be utilized to finance the acquisition of buildings to be used as administrative offices, as well as financing of various other strategic government projects

The Republic of Senegal, through the Société Nationale de Gestion et d’Exploitation du Patrimoine Bâti de l’État (SOGEPA SN)[1], sold XOF 330bn (around USD 525.4m) in three-tranche Sukuk Ijarah, attracting orders from regional and Middle Eastern investors. The first tranche is a seven-year Sukuk; the second is a 10-year tranche, and…

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

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    • Signing of the Line of Financing agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Banque Nationale pour le Développement Economique (BNDE)-Senegal
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Signing of the Line of Financing agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Banque Nationale pour le Développement Economique (BNDE)-Senegal

The facility comes under the allocation of ICD’s USD 200 Mn COVID-19 Line of Financing Support Package to support the private sector affected by the pandemic

Mr. Ayman Sejiny, the CEO of The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of IsDB Group, and Mr. Thierno SY, the CEO of the Banque Nationale pour le Developpement Economique (BNDE)-Senegal, signed a EUR 12 Million Shariah-compliant Line of financing agreement…

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

Islamic Windows of Coris Bank International pave the way to achieve SDG goal by ensuring financial inclusion and shared prosperity

The aim of Coris Bank is to present its customers with alternative Islamic Banking products and services

Islamic banking is gaining a strong footing in African region with the launching Islamic banking windows of Coris Bank International in Mali, Senegal, Benin and Côte d’Ivoire. May 29, 2018, the official launching of Coris Bank Baraka Senegal took place in the presence of the Islamic Corporation for the Development…

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

Signing of the Line of Financing agreement between the Islamic Corporation for the Development of the Private Sector (ICD) and Sub Saharan African Banks

ICD is now focusing on increasing access to funding to the private sector by channeling the funds to established financial institutions in its member countries

The Islamic Corporation for the Development of the Private sector (ICD) (www.ICD-PS.org)  and Afriland First Group, Banque Islamique du Senegal, EBID, BSIC Mali and Coris Bank Mali signed a Line of financing agreements for a Euro 45 million, Euro 50 Million, Euro 25 Million, Euro 9 Million and Euro 6…

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

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    • ICD, the private sector arm of the Islamic Development Bank Group (“IDB”) cooperate with Coris Bank International to launch Islamic windows (3)
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD, the private sector arm of the Islamic Development Bank Group (“IDB”) cooperates with Coris Bank International to launch Islamic windows

Through this collaboration, ICD is assisting Coris Bank International’s subsidiaries in launching 4 dedicated Islamic windows in Cote d’Ivoire, Mali, Senegal and Benin

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and Coris Bank International have entered into a Joint Strategic Collaboration to establish Islamic window. The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Idrissa Nassa, CEO and Chairman of…

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

Video News Release: The BRVM becomes the 1st Stock Market for Islamic Finance in Africa with Five Sukuk Listings amounting to 766 Billion FCFA (1.3 Billion USD)

The Regional Stock Exchange (BRVM) admitted in its listing the first five Sukuks issued by Côte d'Ivoire, Senegal and Togo, on the sidelines of the 2nd Forum on Islamic Finance in Africa held in Abidjan

This material is public and can be used freely

The first listing reflects the commitment of the BRVM (www.BRVM.org/) for the development of Islamic finance in the Regional Financial Market WAEMU. It will enhance the attractiveness and liquidity of its Islamic bonds, particularly for individual holders, while ensuring the success of future issuances by WAEMU States. Sukuks are innovative…

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

ICD supports Ivory Coast to successfully Issue the largest West African Sovereign Sukuk

The Islamic Corporation for the Development of the Private Sector (“ICD”), an arm of the Jeddah-based Islamic Development Bank, acted as the Lead Arranger.

On 21st December 2015 the Republic of Côte d’Ivoire, acting through the Ministry of Economy and Finance, closed an inaugural local currency, CFA 150 Billion (USD 244 million) Sukuk al-Ijara (“Sukuk”). The Islamic Corporation for the Development of the Private Sector (“ICD”) (http://www.ICD-idb.org), an arm of the Jeddah-based Islamic Development…

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

The Inaugural Africa Islamic Finance Forum by the Cote d’Ivoire Government and the Islamic Corporation for the Development of Private Sector (ICD)

The two-day event will feature extensive discussions capitalizing on investment opportunities in key African markets

To be held on the 17th and 18th September at the Sofitel Abidjan Hotel Ivoire, the inaugural Africa Islamic Finance Forum 2015 is designed specifically for the benefit of local and international market players to explore the development opportunities in Islamic finance both in the Cote d’Ivoire, locally and regionally…

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

New report from ICD unveils encouraging Islamic finance prospects in Africa

The new report was released during the Africa Islamic Finance Forum 2015 in Abidjan

A newly-released report “Islamic Finance in Africa: A Promising Future” by the Islamic Corporation for the Development of the Private Sector (ICD) takes an in-depth look at the tremendous growth opportunities for Islamic finance to flourish in the region. The new report was released during the Africa Islamic Finance Forum…