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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) |

Appointment of Dr. Khalid Khalafalla as Acting Chief Executive Officer of Islamic Corporation for the Development of the Private Sector (ICD)

Dr. Khalafalla brings extensive experience from his career within the IsDB Group

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce that its Board of Directors has approved the appointment of Dr. Khalid Khalafalla as Acting Chief Executive Officer (CEO), effective 19 March 2025.  Dr.…

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 Joint-Stock Commercial Bank “Turonbank” Strengthen Partnership to Support Private Sector Growth in Uzbekistan

This initiative is closely aligned with ICD's Private Sector Development Strategy, which focuses on enabling economic dynamism and resilience by empowering SMEs and advancing financial inclusion

The Third Line: ICD and Turonbank announce a USD 30 million Islamic line of financing facility to bolster Uzbekistan's private sector development. Empowering Entrepreneurs: The new facility is designed to accelerate SME growth and foster economic development in Uzbekistan. ​Strengthened Collaboration: This initiative reaffirms the long-standing partnership between ICD and…

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 Joint-Stock Commercial Bank “Asia Alliance Bank” Strengthen Partnership to Support Private Sector Growth in Uzbekistan

Asia Alliance Bank has been a trusted partner of ICD since 2013 and has previously received three line-of-financing facilities totaling USD 30 million

The Fourth Line: ICD and Asia Alliance Bank announce a USD 25 million Islamic line of financing facility to bolster Uzbekistan's private sector development.  Empowering Entrepreneurs: The new facility is designed to accelerate SME growth and foster economic development in Uzbekistan.  Strengthened Collaboration: This initiative reaffirms the long-standing partnership between…

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

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    • Islamic Corporation for the Development of the Private Sector Signs the Country Work Program 2025 for Egypt, Unveiling $100 Million Financing Plan
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector Signs the Country Work Program 2025 for Egypt, Unveiling $100 Million Financing Plan

The agreement was officially signed by Engineer Hani Salem Sonbol, Acting CEO of ICD, who highlighted the corporation’s ongoing commitment to Egypt's economic development

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), has signed it’s the Country Work Program 2025 for Egypt, marking a significant milestone in its strategic partnership with the country. The signing ceremony took place in…

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

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    • Islamic Corporation for the Development of the Private Sector (ICD) Leads Key Discussions on Sustainable Development and Green Finance at Conference of the Parties (COP29) (1)
    • Islamic Corporation for the Development of the Private Sector (ICD) Leads Key Discussions on Sustainable Development and Green Finance at Conference of the Parties (COP29) (2)
    • Islamic Corporation for the Development of the Private Sector (ICD) Leads Key Discussions on Sustainable Development and Green Finance at Conference of the Parties (COP29) (3)
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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) Leads Key Discussions on Sustainable Development and Green Finance at Conference of the Parties (COP29)

On November 18, ICD organized a session on financing women and youth-led businesses in post-conflict regions

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), part of the Islamic Development Bank (IsDB) Group, hosted several high-level sessions at COP29 in Baku, focusing on sustainable economic development, climate finance, and the private sector's role in green growth. On November 18, ICD organized a session…

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

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    • ICD commits EUR 40 million to Kokshetau Hospital Project in Kazakhstan which is the first healthcare-sector PPP in Central Asia
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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) commits EUR 40 million to Kokshetau Hospital Project in Kazakhstan which is the first healthcare-sector Public Private Partnership (PPP) in Central Asia

The new hospital will seek to receive a “Silver” rating under the Leadership in Energy and Environmental Design (LEED) green-building certification programme

ICD is investing EUR 40 million for the construction and operation of a 630-bed multidisciplinary hospital in the city of Kokshetau, Kazakhstan. The total financing package is Euro 365 mln which is co-financed by the EBRD, AIIB, DEG, Proparco and DBK. The Project will be developed by a Rönesans Holding…

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

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    • Islamic Corporation for the Development of the Private Sector (ICD) Commits Eur 40 Million to Nakkas- Basaksehir Section of Türkiye’s Northern Marmara Highway Project
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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) Commits Eur 40 Million to Nakkas- Basaksehir Section of Türkiye’s Northern Marmara Highway Project

It involves a 31.3-km toll road, including a 1.6-km cable-stayed bridge and multiple overpasses and underpasses

ICD is investing EUR 40 million in the Nakkaş-Başakşehir section as part of a EUR 1.04 billion funding package. The project incorporates solar energy and LED lighting, aiming to cut energy use and emissions significantly. It’s backed by a consortium led by Rönesans Holding, with support from MDBs and ECAs.…

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    • Empowering Türkiye's Energy Sector: The Islamic Corporation for the Development of the Private Sector (ICD) And Sampa Sign Eur 15 Million Term Sheet
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Empowering Türkiye's Energy Sector: The Islamic Corporation for the Development of the Private Sector (ICD) And SAMPA Sign Eur 15 Million Term Sheet

Through this partnership, SAMPA will construct a 21 MW captive solar power plant, which will reduce energy costs, lower CO2 emissions, and ultimately support Türkiye in achieving its net-zero targets

The Islamic Corporation for the Development of the Private Sector (ICD) is providing financing of €15 million to Türkiye’s Sampa Otomotiv Sanayi ve Ticaret A.Ş. (SAMPA) to support the development and construction of a 21 MW captive solar energy capacity. This agreement marks a significant partnership between ICD and SAMPA,…

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

Empowering Türki̇ye’s Agricultural Future: Islamic Corporation for the Development of the Private Sector (ICD) and Vakif Katilim Bankasi Sign USD 30 Million Financing Agreement

Strategic Partnership to Propel SME Growth and Strengthen Food Security in Türkiye

In a decisive move to bolster Türkiye's economic and agricultural landscape, the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) has partnered with Vakıf Katılım Bankası A.Ş. (Vakıf Katılım) to provide USD 30 million in financing dedicated to small and medium-sized enterprises (SMEs) and corporate entities in…

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

Empowering Türkiye's Economic Future: The Islamic Corporation for the Development of the Private Sector (ICD) And AKlease Launch EUR 13.65 Million Private Sector Financing Initiative

ICD and AK Finansal Kiralama A.Ş. Join Forces to Fuel Small and Medium-sized Enterprises (SME) Growth and Innovation in Türkiye

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org) and Ak Finansal Kiralama A.Ş. (AKLease) have entered into a landmark agreement to bolster economic growth in Türkiye. This new EUR 13.65 million Commodity Murabaha Facility is designed to support private sector projects, with a special focus on…