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.
The Islamic Corporation for the Development of the Private Sector (ICD) Signs New 2023 Program Worth $120 million to Propel Private Sector-led Development
The Islamic Corporation for the Development of the Private Sector (ICD) has signed a new program worth $120 million for the year 2023 to propel private sector-led development in Egypt. The program includes expanding credit lines for financial institu ...
THE ISLAMIC CORPORATION FOR THE DEVELOPMENT OF THE PRIVATE SECTOR (ICD) AND PRIVATE JOINT STOCK BANK "TRUSTBANK" PARTNER TO PROVIDE USD 20 MILLION IN FINANCING FOR PRIVATE SECTOR BUSINESSES IN UZBEKISTAN
ICD and Trustbank have signed a USD 20 million Line of Finance Agreement. The facility will be used to finance private sector businesses, with a focus on Small and Medium Enterprises (SMEs), in Uzbekistan. The Line of Finance aims to promote Islami ...
Refinitiv: Global Islamic Finance Industry expected to reach US$5.9 Trillion by 2026
Refinitiv: Global Islamic Finance Industry expected to reach US$5.9 Trillion by 2026 Malaysia leads the Islamic finance industry followed by Saudi Arabia, Indonesia, Bahrain, Kuwait, and the UAE Islamic banking currently holds 70 percent of the g ...
SIGNING OF A USD 15 MILLION MURABAHA FACILITY AGREEMENT BETWEEN ICD AND JSC JV UZBEK LEASING INTERNATIONAL A.O.
ICD signed a $15 million Murabaha Facility Agreement with Uzbek Leasing International The LoF will help the financial institution to further increase on-financing to SMEs in Uzbekistan ICD focuses on increasing access to Islamic finance by channeli ...
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 ...
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.