The Islamic Financial Institutions Development Program works on advising financial institutions on creating Islamic independent subsidiary/windows, converting conventional financial institutions into Islamic entities, and creating new Islamic banks/vehicles focused on the local markets especially small and medium enterprises.
As the demand for Islamic products grow, institutions in ICD’s member countries, the program helps in developing Islamic Finance products and capabilities in private sector institutions in its member countries.
Types of Services
- Conversion/Establishment: Convert conventional financial institutions into Islamic ones or create an Islamic independent subsidiary/window (including banks, insurance companies, leasing companies, and mortgage companies.)
- Fund Raising/ Advisory: Assist Islamic financial institutions in raising capital, restructure and merge with other institutions, and support the existing Islamic institutions to enhance their operational processes, boost their financial resources and diversify their products
- Regulation: Advise governments to develop and implement new regulation and supervision system for Islamic financial institutions and assist these governments in enhancing & developing their existing Islamic financial system.
- Capacity Building: includes identifying knowledge gaps, theoretical training & developments program, practical training in our financial institutions subsidiaries around the globe, and knowledge transfer & tools.