- ROLE OF DIGITAL TRANSFORMATION IN “RESTYLING” THE ISLAMIC FINANCE INDUSTRY
- The International Development Finance Club and The Sustainable Development Goals
- Moving to the next level: ICD’s Advocacy with local partner banks to take SDG Action
What we do
We fund projects that are aimed at creating competition, entrepreneurship, employment opportunities and export potential. We also bring additional resources to projects, encouraging the development of Islamic finance, attracting co-financiers and advising governments and private sector groups on how to establish, develop and modernize private enterprises and capital markets. We advise on best management practices and enhancing the role of the market economy.
In 2017, ICD saw the first results of the introduction of the Sustainable Development Goals (SDGs) in its strategy. As the major private sector development arm of the Islamic Development Bank Group (IsDBG), ICD has pledged to concentrate its investments in SDG 7 (energy), SDG 8 ( jobs and financial inclusion) and SDG 9 (industry and infrastructure); engage in SDG 13 (climate action) and SDG 17 (partnerships) in order to impact on SDG 1 (poverty), SDG 2 (agriculture), SDG 3 (health), SDG 4 (education) and SDG 5 (gender equality).
The EDB and the Islamic Corporation for the Development of the Private Sector to develop Islamic finance in Kazakhstan
Almaty, 25 February 2019. The Eurasian Development Bank (EDB) and the Islamic Corporation for the Development of the Private Sector (ICD) signed an agreement, which makes it possible for the parties to enter into treasury transactions that comply with Sha ...
ICD AND ASKEC SIGNED A LETTER OF INTENT FOR POSSIBLE ISSUANCE OF SUKUK
The Islamic Corporation for the Development of the Private Sector (ICD) and Al-Sharif Group & KEC Ltd. Co. (ASKEC) have signed a Letter of Intent on 14th FEB 2019 to explore the possibility of collaborating in structuring and arranging the issuance of ...
ICD AND IRTI CONSIDER ENTERING A STRATEGIC PARTNERSHIP TO DELIVER HIGH LEVEL TRAINING PROGRAMS IN ISLAMIC FINANCE
Jeddah, Saudi Arabia – February 6, 2019 - A Memorandum of Understanding (MoU) was signed between, the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, and The Islami ...
ICD Launched a new application for the Fatawa Book already published in 2018
The Islamic Corporation for the Development of the Private Sector (ICD), a leading multilateral financial institution operating in accordance with the principles of Islamic banking and finance, today announced the launch of its New Fatawa book ...
ICD Signs a Murabaha Facility with LankaBangla Finance Limited in Bangladesh to support SMEs
Dhaka, Bangladesh – 27 January 2019 - The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, signed a Murabaha Facility of USD 20 Million with LankaBangla Finance ...
We always make interventions in member countries that are appropriate to their stage of development. In less developed member countries, we focus on building the basics of competitiveness and improving the regulatory environment. However, in more developed countries, we focus on enhancing private sector markets by increasing business sophistication.
Total ICD Contribution: $
Disclaimer: Country borders or names do not necessarily reflect the IsDB's official position. This map is for illustrative purposes and does not imply the expression of any opinion on the part of the IsDB, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries.
ROLE OF DIGITAL TRANSFORMATION IN “RESTYLING” THE ISLAMIC FINANCE INDUSTRY
The Islamic Development Bank Group (IsDB Group) is organizing its 44th Annual Board of Governors Meeting in Marrakech – Morocco, which will take place during the period of 3-6 April 2019. In conjunction with this high level event, the IsDB Group private sector entities will be organizing the IsDBG Private Sector Forum on April 4th, 2019. The Forum will take place at the Four Seasons Hotel, Marrakesh – Morocco from 09:00am to 06:00pm. The main objective of the Forum is to highlight IsDB Group activities, services and initiatives in member countries. Moreover, the Forum shall provide a unique platform to network and establish business relations and partnerships with other leading representatives and counterparts from business community in order to share their related experience, success stories & best practices and to explore together the many investment possibilities that the country offers. Furthermore, it will connect business communities in member countries by arranging parallel B2B scheduled meetings. ICD is organising during the Forum, a high-level discussion pannel around the role of digital Transformation in "restyling" the islamic finance. Content: The Digital Transformation and Fintech is considered as a blue ocean for Islamic Finance Industry. That is because there is tremendous amount of opportunities available for Islamic finance institutions to embark on in order to achieve multiple strategic objectives such as financial inclusion, customer-oriented financial services, operation excellence and competitive advantage. Crowdfunding, peer-to-peer model and payment platforms, smart contracts and blockchains, cryptocurrencies, cybersecurity, InsureTech etc. are among a few emerging channels of digital transformation that could be utilized in the Islamic finance industry. No doubt that, stepping into these digital channels could help the Islamic finance industry to grow faster and more solid. ICD is keen to introduce FinTech products and become number one platform-facilitator selling investment funds within its 54 member countries, depending on each particular regulatory framework. Objective: The objective of the two panel sessions is to discuss the new opportunities offered by the digital transformation applicable to the finance industry broadly, and Islamic finance in particular. The sessions will aim to address three major questions: HOW CAN WE UTILIZE FINTECH AND DIGITAL TRANSFORMATION TO RESTYLE THE ISLAMIC FINANCE INDUSTRY? IN WHICH AREAS MUST WE FOCUS THE MOST? WHAT ARE THE MAJOR REQUIREMENTS AND PREREQUISITES? _______________________________________________________________________________________________________________ PANEL 1 TITLE: Adopting Fintech to achieve Financial Inclusion in Islamic Finance SPEAKERS: Ayman Sejiny, CEO of Islamic Corporation for the Development of the Private Sector (ICD) : Ayman is the new CEO of the Islamic Corporation for the Development of the Private Sector. Ayman is a highly accomplished financial industry leader, has a vast experience in innovating financial processes and products, expert in Fintech and has proven track record in several regional and international financial institutions. Charlene Chen, Cofounder and COO of Bitpesa : Charlene is Chief Operating Officer of BitPesa. Charlen has several years of private sector and social sector experience working with a variety of organizations ranging from internet startups to Fortune 500 companies to international non-profits. She has spent the last 5 years living and working in East Africa, with a focus on social entrepreneurship, ICT for Development and financial services for the unbanked. Rafi-uddin Shikoh, Managing Director at DinarStandard: Rafi-uddin is passionate about empowering organizations to become global brands with socially responsible impact. He is the Founder and CEO of DinarStandard™--a specialized market research and advisory firm. Rafi-uddin has led thought leadership and strategies on innovation, marketing and empowering Islamic economies for global impact. ...Loading the information of the 4th Outstanding speaker... Please wait... MODERATOR: Ahmed Tahiri JOUTI, Management Board Member at Al Maali Group: Ahmed is an accomplished Islamic finance professional, writer and speaker. He is the Chief Operating Officer of Al Maali Group, member of the management board, visiting Professor in universities in Morocco and an Exclusive correspondent in Morocco for Islamic Finance News. _______________________________________________________________________________________________________________ PANEL 2 TITLE: Blockchain technology and Crowdfunding Platforms in Islamic Finance Industry SPEAKERS: Abdullah Han, Cofounder of HLC: Abdullah is is passionate about empowering businesses to become global brands with socially responsible impact. He is Co-Founder of HalalChain(www.hlc.com), a public blockchain company based on Direct Acyclic Graph, which is friendly to small payment and quick transaction. In addition, HalalChain develops consortium chain to address the concerns in Halal economy and Islamic Finance, which aspires to reshape the ecosystem of global Islamic economy. Hubert de Vauplane, Partner at Kramer Levin Naftalis & Frankel LLP: Hubert heads the Alternative Finance team at Kramer Levin LLP Paris (an American law firm) and he’s chairs the Africa Desk and Islamic finance team. He has a long experience as a banker to various international banks. He is or was appointed as an expert at the French Financial Market Supervisory Authority (AMF), as well as European Commission and European Central Bank, for FINTECH and Blockchain. Marilyn heib, Cofounder and CEO of Bettervest: Marilyn is the co-founder and CEO of bettervest a provider of a crowdfunding platform for energy-efficiency projects. The company allows citizens to finance energy efficiency projects and participate in the energy savings. Marilyn is interested in making the world a better place, by helping people help themselves, and saving the Climate. ...Loading the information of the 4th Outstanding speaker... Please wait... MODERATOR: Kenza Bennis, Communication strategist: Kenza is a creative entrepreneur, blogger and an outstanding communication expert. Kenza created a MOOC for a top-tier business school, using the power of e-learning and vocational training to help individuals prosper from their expertise. Kenza also started, eeducation.africa in 2019, an association that provides talents with advancing online education enabling individuals to respond to local markets' needs and work their way out of poverty. Places are limited, to attend this high level event we encourage you to For more information about the 44th Annual Meeting of IsDB Group please
IsDB Group 44th Annual Meeting
The Board of Governors of the Islamic Development Bank Group (IsDB Group) holds an annual meeting to discuss development issues and institutional matters. The meeting attracts over than 1,000 participants and offers an ideal platform for decision makers to discuss challenges and explore opportunities facing IsDB Group member countries. (More info will follow soon)
SAIFI 2019 - AFRICAN ISLAMIC FINANCE IN THE FINTECH AGE (ENG and FR)
SAIFI will explore how the convergence of FinTech and Islamic Finance is contributing to the growth of Islamic African economic system and (ii) how FinTech is the key to capturing the next generation of African Islamic digital economy customers. SAIFI represents the first African Islamic fintech platform paving the way between Islamic FinTech companies (i.e. Startups) and the African financial institutions By hosting the POC (proof of concept) of some exciting new Islamic FinTech platforms in SAIFI, participants will have the chance to be among the first to see these platforms demonstrated and you will also be able to meet the founders and learn about how they plan to meet market needs in innovative ways. This event will include keynote sessions, key stakeholders, regulatory panels between government agencies, financial institutions and startups. OBJECTIVES OF THE PROGRAM This event will contribute to the growth of the African Islamic Digital Economy Agenda . SAIFI to serve as a platform for knowledge transfer and networking (B2B) between three major groups: ➤ African Islamic Finance industry stakeholders transformation bancaire à l’ère numérique. ➤ Fintech entrepreneurs ➤ Financial industry regulators. Facilitating business exchange and collaboration opportunities as the first African Islamic fintech Expo . Featuring regional and international leaders in FinTech and Islamic finance More info HERE
Public Private Partnership (PPP) Conference (AR, FR and ENG)
The Islamic Development Bank Public-Private Partnership Forum (PPP Forum) is an annual event aimed at fostering greater publicprivate sector collaboration to help solve the world’s sustainable development challenges. First established in 2017, the PPP Forum convenes business leaders and policymakers from the bank’s 57-member countries to promote the dialogue on public-private partnerships and, ultimately, achieve the UN’s Sustainable Development Goals (SDGs). It provides a forum to discuss the factors that create the best enabling environment for PPPs and encourages the sharing of key learnings and innovative policies between countries. Specifically, this year’s Forum will address: Building governance to support private sector inclusiveness International best practice and insights for policy makers Readiness to embrace PPPs PPS for area of social infrastructure PPPs in an era of major urbanization This year’s Forum will also see international experts discuss the potential for PPPs to act as a financing mechanism for developing smart cities, with 60 per cent of the world’s population expected to live in cities by 2050.
Startup Weekend Jeddah Global Artificial Intelligence
Startup Weekend Jeddah Global Artificial Intelligence Edition 2018 Ignite – Develop – Impact Artificial intelligence (AI), as an idea, first appeared soon after humans developed the electronic digital computing that makes it possible. And, like digital technology, artificial intelligence, or AI, has ridden waves of hype and gloom—with one exception: AI has not yet experienced wide-scale commercial deployment. Every sector of the economy can benefit from the smart use of artificial intelligence (AI). AI solutions are already leading to improvements in healthcare, advances in education, more robust accessibility tools, stronger cybersecurity, and increased business productivity and competitiveness. AI also has the potential to generate substantial economic growth and enable governments to provide better and more responsive government services while addressing some of their most pressing societal challenges. And as AI’s capabilities have dramatically expanded, so has its utility in a growing number of fields. It also has great potential to enable tremendous social good. Artificial Intelligence for Enterprises and Economic Development Large amount of data created by various mobile platforms, social media interactions, e-commerce transactions, and IoT provide an opportunity for businesses to effectively tailor their services by effective use of AI. Proper use of Artificial Intelligence can be a major competitive advantage for any business considering vast amount of data being generated. Artificial Intelligence is an emerging field that allows businesses to effectively mine historical data and better understand consumer behavior. This type of approach is critical for any business to successfully launch its products and better serve its existing markets. What is a Startup Weekend? Techstars Startup Weekends are 54-hour events designed to provide superior experiential education for technical and non-technical entrepreneurs. The weekend events are centered on action, innovation, and education. Beginning with Thursday night pitches and continuing through testing, business model development, and basic prototype creation, Startup Weekends culminate in Saturday night demos to a panel of potential investors and local entrepreneurs. Participants are challenged with building functional startups during the event and are able to collaborate with like-minded individuals outside of their daily networks. Why Startup Weekend AI Jeddah? Artificial Intelligence is not a new technology but its rapid growth over the past years worldwide could risk leading countries without AI talent and local ecosystems behind other countries who are already heavily investing in the field. Having a Startup Weekend focused around AI will help in kickstarting a local AI community in Jeddah and beyond, by bringing existing AI experts in the field and introducing people in both business and society to the possibilities. AI Experts can come from universities like KAUST and KAAU and from large companies like Saudi Aramco, SABIC and Maaden. The gathering can also plants the seeds needed to make sure Saudi Arabia does not get left behind in this coming wave of AI revolution. Global Startup Weekend AI (GSWAI) is bringing as many communities as possible around the world together to locally engage their ecosystems, to educate them on the theme, in order to democratize the AI concept and push them out of their comfort zone to build the better tomorrow we all want to live in. This global initiative is more than a simultaneous event in several cities around the world: it is federating a genuine community around artificial intelligence, democratizing its use, and making it more diverse, inclusive and impactful by removing boundaries. Yet, this global initiative, over the same 2 weekends, at least 15 cities around the world will organize the same SWAI in their local community. Everyone will be connected throughout the world, with Global Mentors, facilitators & organizers. What outcome are we looking to achieve with Startup Weekend AI Jeddah? Besides helping to establish a local AI centric ecosystem, our goal is to inspire AI-driven projects that could potentially help solve real problems in the region and beyond. That is to say, AI Projects that we can help by connecting them to the right large companies that confirmed a need for them and also connecting bright ones with accelerators and investors along with relevant industry partners. Targeted Participants Students, Researchers & Scientists Professors Engineers Smart Innovators Robotic Technologist Gaming Professionals Automation Industry Leaders Managers & Business Intelligence Experts Professionals in Media Sector AI Applications: Industry Use Cognitive Computing Chatbot Data Science, Machine Learning & Deep Learning Data Mining and Data Analytics Speech Recognition, Image processing, Unsupervised Learning Security Robotics Neural networks Computer Vision NLP IoT Home Assistant Is your department/organization has an interest to bring AI-based solutions to its operations? Propose a challenge to be addressed during the event. Are you a financing / investment institution and have an interest to financially finance or invest in the resulted AI-based solutions? Join us Today. Do you have an interest to be a mentor in the event? Join us Today. Do you have an interest to take part in the Judgement Panel? Join us Today. or contact the organizing team in ICD of the Islamic Development Bank Group (IsDB): Eng. Hamza A Alsaktawi, Manager Knowledge and Innovation Program, ICD Email: firstname.lastname@example.org Phone: +966126468156 Mobile: +966555909078
8th Global Islamic Microfinance Forum (Event Lang ENG)
With high hopes AlHuda CIBE has planned to conduct The 8th Global Islamic Microfinance Forum in Dubai - UAE on 25th - 26th November, 2018. The notion behind conducting these forums is to create awareness of Islamic Microfinance for the benefit of humankind and to help poor to survive at their best. This is the reason why these events are conducted internationally so that masses can enjoy its perquisites. This year it is expected that the forum will unbolt new horizons, opportunities and innovation for Microfinance industry thus helping them eliminate poverty with support of Islamic Microfinance.
IFN Forum Investors 2018 (Event language ENG)
Launched in April 2015, IFN Investors Forum has been widely embraced by the industry to great success as the platform to discuss and debate all things related to Islamic investments. Welcoming a broad range of investors from all corners of the world, IFN Investors Forum will stage a comeback in 2018 in Kuala Lumpur, one of the most advanced Shariah finance capitals of the world. Covering all aspects of Shariah investments across a variety of sectors, asset classes and markets, IFN Investors Forum 2018 will focus on the biggest opportunities, latest developments and trends as well as potential issues that may arise as far as Islamic investments are concerned. The wide-ranging program will include multiple and varied formats and sessions including issuer case studies to maximize engagement and outcome from the high-level event.
1st Azerbaijan-Arab Investment and Business Forum (AAIBF)
ABOUT The 1st Azerbaijan-Arab Investment and Business Forum (AAIBF) will be organized by the Association for Azerbaijan-Arab Countries Cooperation (AAACC), the Islamic Corporation for the Development of the Private Sector (ICD) and in close cooperation with the IsDB Group Business Forum (THIQAH). The forum will be held on …….. at Baku Convention Center (Baku, Republic of Azerbaijan). The forum will be held under the patronage of H.E Ilham Aliyev, the President of the Republic of Azerbaijan and the support of the Ministry Economy of the Republic of Azerbaijan, the Council on State Support to Non-Governmental Organization, General Union of Chambers of Commerce Industry and Agriculture for Arab Countries. The AAIBF aims to present and showcase the recent opportunities and key challenges to do business in Azerbaijan and will also focus on the best practices concerning related industries. Moreover, the conference shall present an ideal occasion to investors, business people and CEOs to network and establish business relations with their counterparts and other leading representatives from the local business community in order to share their related experience & success stories, and to explore together the many investment possibilities that the country offers. Furthermore, it will connect investors with companies and individual entrepreneurs from Azerbaijan who have viable business projects to exchange views on their respective businesses. It will also provide a platform for a constructive and fruitful dialogue between the various parties with an interest in the fields of private sector, and to acquire an in-depth knowledge of the major changes and developments underway in the private sector. The event will address topics of common interest to identify concrete ways and effective solutions to support investments and private sector development in Azerbaijan. Furthermore, the forum aims at reinforcing the position of Azerbaijan on the world investment map by highlighting profitable business opportunities readily available in the country. The conference will accordingly highlight the outstanding economic performance as well as the improved business environment in Azerbaijan and will showcase available investment opportunities and prospective business partnerships. Azerbaijan companies and institutions have been a long-term business partner for the Arab world and are well known for their high-quality services. To ensure a balanced and sustainable exchange, they are not only exporting top-notch products, but also bringing education and know-how along with it. This AAIBF is an exclusive, high-level gathering of senior business leaders and investors, from across Arab Countries in support of the Azerbaijan’s engagement with investment. The forum will also convene the dialogue between the Heads of Corporations, holdings and financial institutions focusing on how to develop and finance critical and developmental projects in Azerbaijan. This CEO-level invitation-only forum will be held annually and the recommendations emerging from the forum will influence the agenda for action plans championed at the Presidential level with Regional Economic Communities and multilaterals related to private sector development. In addition to exciting panels, several interactive B2B and expert-led roundtables will take place. In small groups, they give the opportunity to exchange experiences and discuss the innovation potential in different fields. Main Objectives Efforts toward building an enabling investment environment in Azerbaijan & lifting barriers to FDI: investment environment/ climate and the right incentives, in addition to investment policy framework; Showcasing of promising sectors and opportunities in and through Azerbaijan; Presenting IDB Group products and services: to be presented by IDB, ISFD, ICD, ICIEC and ITFC; Prospects and challenges on doing business in Azerbaijan: perspectives and interventions by investors and CEOs on the investment environment and discuss their related experience and success stories on the country; Sharing the experience and best practices related to Azerbaijan and other Arab countries - Reverse linkages: Sharing the experience and best practices of Arab Countries in showcasing their countries and successfully attracting foreign investments. Proposed Speakers: Chairmen, Presidents and CEOs of local/international private sector companies; Government officials; Representatives of multilateral and financial institutions; CEOs of Arab companies, groups and holdings invested in Azerbaijan. TARGET AUDIENCE The conference might gather 300+ participants (approximately) which have the following profile: Government officials Business associations Multilateral and financial institutions Chairmen, Presidents & CEOs of local/international private sector companies Individual investors Entrepreneurs Chambers of commerce and industry Investment Promotion Agencies EXPECTED OUTCOME Identify opportunities and implementation of best practices; Adopt and implement a clear strategy for the post-conference follow-up; Establish detailed measures with the aim of following, assisting and supporting the business connections initiated during the conference, so as to guarantee the achievement of potential business cooperation and networking; Effective sharing of knowledge, views and practices; Identify strategies for overcoming constraints and challenges; Assist in elaborating Azerbaijan’s strategy to play a leading role in building out new logistical capabilities coupled with an economic reform agenda; Put in place the needed reform measures to enhance the business and investment environment over the short and medium term, while investing in longer term initiatives to enhance human capital and support the development of a knowledge-based economy; Create linkages and business relations between Azerbaijan and Arab Business communities.
Africa Islamic Finance Forum - Lagos Conference
Welcome to the 3rd Africa Islamic Finance Forum The 3rd Africa Islamic Finance Forum will provide an insightful programme to greatly assist understanding towards investment opportunities as well as being a networking platform for the financial and business communities to forge partnerships and provide a catalyst for business. Given Nigeria’s status as a leading member of the Islamic Development Bank, the drive for investment into Nigeria and the important steps being taken towards economic recovery in Nigeria and through the region; the timing of the conference provides a much-needed platform for opening Islamic finance to Nigeria’s business community.
IDB Group Private Sector Forum
The IDB Group is organizing its 41st Annual Board of Governors Meeting in Jakarta-Indonesia, which will take place during the period of 15-19 May 2016. In conjunction with this significant event, the IDBG private sector entities will be organizing the IDBG Private Sector Forum on 17th May, 2016 which will take place at Jakarta Convention Center (Cendrawasih Room #3), Jakarta-Indonesia, from 08:30AM to 06:30 PM. The main objective of the Forum is to highlight IDB Group activities, services and initiatives in member countries including Indonesia. The Forum will showcase the opportunities and challenges to do business in Member Countries. Moreover, the Forum shall provide a unique opportunity to investors, business people and CEOs to network and establish business relations with their counterparts and other leading representatives from the local business community in order to share their related experience, success stories & best practices and to explore together the many investment possibilities that the country offers. Furthermore, it will connect investors with companies and individual entrepreneurs from Indonesia who have viable business projects.
IFN FORUM ASIA 2017
Going into its 12th year, IFN Asia Forum will bring together industry experts and investors from across the world to convene at REDmoney Group's flagship event that focuses on the world's largest and most active Islamic financial market. The two-day event will be a platform for industry professionals to discuss the latest issues surrounding the development of Islamic finance in the Asian region. While Malaysia and Indonesia continue to lead the pack in terms of Islamic finance activities and Sukuk issuance, other major economies such as Pakistan, Singapore, Hong Kong and Australia are increasingly turning towards Shariah compliant financing activities to raise funds for projects, especially infrastructure- related ones. Turning to West Asia, Turkey has also emerged as a growing force in Shariah compliant finance with its participation banks, and the government's increasing encouragement for the industry to take flight has seen more banks launching Shariah compliant banking windows. For info and registration please visit: http://redmoneyevents.com/main/event.asp?IFN=Asia2017
Africa Islamic Finance Conference - Abidjan 2015
A 1.5-day, exclusive, Islamic finance focused forum, under the patronage of the government of Cote d’Ivoire for local and International market players on the development of both the local and regional Islamic financial market working in collaboration with the ICD, REDmoney and ICD will build a formidable program with industry leaders from around the world to discuss global issues on Islamic finance and Islamic investments with a focus on inward investment and collaboration with Africa The distinguished audience will include, regulators, bankers, lawyers, consultants, Shariah scholars and others key industry practitioners. The event is organized and managed by REDmoney and Islamic Finance news.