Islamic Corporation for the Development of the Private Sector

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Taif, Asharqiyyah 26523

Islamic Corporation for the Development of the Private Sector News

ICD, CADF sign MOU to spur economic growth in Africa

An MOU was recently signed between the ICD of the Private Sector and the CADF. The MOU will enable trade, investment and economic growth to come to 19 African countries and their small to medium business enterprises (SMEs).The memorandum was signed by a number of individuals, including the CEO and general manager of ICD, Khaled Al Aboodi, as well as the president of CADF, Shi Jiyang. Read More »

Islamic, West African banks to collaborate on SME development

The ICD of the Private Sector and the BCEAO announced an agreement Monday that will support financing for small and medium businesses in the West African Economic and Monetary Union. ICD will help create a Sharia-compliant investment fund capitalized at up to $30 million, with the goal of attracting additional investment and growing the fund as large as $100 million. Read More »

ICD coordinates $244 million sukuk for Ivory Coast

With support from the ICD, Ivory Coast's Ministry of Economy and Finance recently closed on a $244 million sukuk, a Sharia-compliant bond used as an alternative financing tool. The sukuk carries a five-year maturity and was subscribed by regional and international investors as well as retail investors from all eight West African Economic and Monetary Union member nations. Read More »

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