ICD announces the signing of a Bilateral Agreement with Mizuho Bank (Malaysia) Berhad

Kuala Lumpur, MALAYSIA, 30 April 2019 - The Islamic Corporation for the Development of the Private Sector (ICD), the private sector development arm of Islamic Development Bank (IsDB) Group, and Mizuho Bank (Malaysia) Berhad, a subsidiary of Mizuho Bank Ltd. yesterday signed a bilateral agreement, signifying another milestone in the continuous strategic partnership between ICD and Mizuho Bank Group. The agreement was signed by Mr. Ayman Sejiny, the Chief Executive Officer of ICD, and Mr. Shojiro Mizoguchi, Chief Executive Officer of Mizuho Bank (Malaysia) Berhad.

During the signing event, Mr. Sejiny commended the strong and continuous support and partnership between ICD and Mizuho, stating: “We are delighted to be working with one of our strong partners in the Asia region, the Mizuho Bank Group. The proceeds of this new financing from Mizuho will be used to support ICD’s developmental mandate by encouraging and fostering the growth and expansion of private sector enterprises in our member countries. This transaction again reflects and underscores the trust and confidence of regional and international financial institutions in our global developmental agenda. ICD will continue to leverage on its relationship with Mizuho and other development partners in the broader Asia Pacific region in promoting private sector development and in sharing our Islamic finance knowledge and expertise amid growing interests for shariah compliant financing and investments. Furthermore, we are keen to co finance with Mizuho SME and other projects compatible with our investment guidelines in our 54-member countries”                                                                                                                                                                    

On his part, Mr. Shojiro Mizoguchi observed: “This signing marks another achievement for Mizuho Bank (Malaysia) in expanding its Islamic finance businesses and it has also cemented our view of ICD as one of the most dynamic and reputable multilateral development institution across the world. We are confident that this transaction will further strengthen our capacity to develop Sharia’a compliant businesses in the coming years”.


About the Islamic Corporation for the Development of the Private Sector (ICD)

Established in 1999, ICD is a multilateral development organization and a member of the Islamic Development Bank (IsDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments in accordance with the principles of Sharia’a. ICD also provides technical assistance and advisory services to member countries and their public and private enterprises with a view to improving the environment for private investment, facilitating the identification and promotion of investment opportunities, privatization of public enterprises and the development of the Islamic capital markets. For more information about ICD, visit www.icd-ps.org

About Mizuho Bank (Malaysia) Berhad

Founded in 2011, Mizuho Bank (M) Berhad operates as a subsidiary of Mizuho Bank, Ltd. and is located in Kuala Lumpur, Malaysia. Mizuho Bank, Ltd. is located in Tokyo, Japan with 960 offices in 34 countries across the world and share capital of JPY1,404.0 billion (equivalent to USD12.7 billion). For more information, kindly visit www.mizuhobank.com

For further information please contact:

Karar Zubair / Ahmed A Khalid / Nabil Al-Alami

Acting Director, Treasury / Regional Head – Asia / Head, Marketing

E-mail: kzubair@isdb..org / aabdulkhalid@isdb.org / nalami@isdb.org