ICD launch a new platform initiative during the 44th Annual Meeting of IsDB Group

Marrakech, April 4, 2019 – The Islamic Corporation for the Development of the Private Sector (ICD) held interactive sessions during the IsDB group private sector forum, while the group was organizing its 44th Annual Meeting in the Four Seasons Hotel.

The event entitled “role of digital transformation in restyling the Islamic finance industry”.  raised awareness about the role that could play fintech in developing the Islamic finance industry in the member countries.

ICD organized two sessions.  The first session was about Adopting Fintech to achieve Financial Inclusion in Islamic Finance and the second session discussed Blockchain technology and Crowdfunding Platforms in Islamic Finance Industry.

The events also witnessed the signing of more 41 MoUs between ICD and its partners, related to a new initiative, a Global Platform for Private Sector where community of like-minded financial entities can collaborate on business opportunities, exchanging market intelligence and laying a foundation for actual financial transactions within the OIC member countries and across borders.

ICD takes the lead in launching such a platform network to demonstrate productive applications of FinTech in modern global business affairs, to help reduce financial transaction costs for its member banks, leasing companies and micro-finance institutions and to upgrade the advisory services that ICD offers to its partners across the Islamic developmental network.

The event witnessed remarkable interventions from leading figures in the finance industry commencing from H.E. Mohamed Benchaaboun, Minister of Economy and Finance of Morocco, IsDB Group president H.E. Badar Al-Hajjar and CEO Ayman Sejiny.

About ICD

ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) 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, which are in accordance with the principles of Shari’ah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. For more information visit www.icd-ps.org