Appointment of Dr. Khalid Khalafalla as Officer-in-Charge, Chief Executive Officer of ICD

Jeddah, Saudi Arabia – 8 February 2025: The Islamic Corporation for the Development of the Private Sector (ICD) is pleased to announce the appointment of Dr. Khalid Khalafalla as Officer-in-Charge, Chief Executive Officer (CEO) of ICD, effective from 8 February 2025, in addition tohis role as CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

This decision follows the completion of the mandate of Eng. Hani Salem Sonbol as the Acting CEO of ICD. ICD extends its sincere gratitude to Eng. Sonbol for his invaluable contributions to the Corporation and wishes him the best in his future endeavors.

The appointment of Dr. Khalafalla is part of a temporary arrangement designed to ensure the continuity of ICD’s operations until the CEO position is permanently filled. As Officer-in-Charge, Dr. Khalafalla will oversee the day-to-day management of the Corporation and work towards advancing ICD’s mission of fostering the growth of the private sector in member countries.

Dr. Khalafalla brings extensive experience within the IsDB Group, having held various senior roles, including Lead Underwriter at ICIEC and Principal Executive Assistant in the Executive Office of the IsDB President.  

ICD’s staff welcomes Dr. Khalafalla and looks forward to supporting him in his new role as Officer-in-Charge CEO.