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 2019, ICD marked two decades of achievements which are advancing the private sectors of our member countries. In commemoration of this 20th anniversary milestone, we look back through our journey to explore how we helped to secure our member countries’ development agendas over the years, and pay tribute to those who have contributed to ICD’s legacy.
Signing of a USD 25 Million Line of Financing Agreement between ICD and JSCB “Agrobank”
[Jeddah, August 14th, 2022] Eng. Hani Salem Sonbol, the Officer-In-Charge Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector (ICD), and Mr. Azamat Turaev, the Deputy Chairman of the Management Board of Joint Stock ...
APPOINTMENT OF ENG. HANI SALEM SONBOL AS OFFICER-IN-CHARGE CHIEF EXECUTIVE OFFICER OF ICD
Jeddah, 10 August 2022 The Islamic Corporation for the Development of the Private Sector (ICD) announces the appointment of Eng. Hani Salem Sonbol as Officer in Charge Chief Executive Officer, effective from 7 July 2022. Eng. Hani Salem Sonbol is al ...
ICD’s FinTech Market Entry Report 2021
The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group (ISDBG) has the pleasure to introduce to the financial market its first FinTech report “the Fintech Market Entry Report (FMER)&rd ...
MOODY'S RATED ICD A2 ISSUER WITH STABLE OUTLOOK
Moody's Investors Service ("Moody's") has affirmed recently, that the Islamic Corporation for the Development of the Private Sector's (ICD) A2 issuer rating with stable outlook. The stable outlook reflects Moody's view that ...
SENEGAL ISSUES XOF 330BN SUKUK
Dakar, 08 June 2022 – The Republic of Senegal, through the Société Nationale de Gestion et d’Exploitation du Patrimoine Bâti de l’État (SOGEPA SN) , sold XOF 330bn (around USD 525.4m) in three-tranche Sukuk Ija ...
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.