Tunis, 29 November 2018, The Islamic Corporation for the Development of the Private Sector (ICD), through its Islamic Financial Institutions Program (IFI)  sign an agreement with BSIC holding in order to assist BSIC Senegal and BSIC Mali with technical advisory services for the establishment of new Islamic banking windows. This project strengthens ICD’s significant advisory footprint in West Africa.

The agreement was signed by Mr Aymen Sejiny, CEO of ICD and Mr Hissène SENOUSSI & Mr Abacar ADOUM, respectively General Manager of BSIC Mali and General Manager of BSIC Senegal.

The technical assistance of ICD cuts across key areas, where the corporation has already proven its worth in the past, namely, Sharia compliant financial products & Sharia Governance, legal, human Resources, IT Solution, Accounting, treasury, risk management, marketing and communication Support.

Mr Sejiny, CEO of ICD stated: “No doubt, the entrance of both new BSIC windows will be a major boost to the outlook of the Islamic Banking Industry in the two countries and West African region at large. It is ICD’s mandate to promote the establishment of Islamic Financial Institutions in its Member Countries and as of today, we are proud to claim that the IFI Program has implemented 39 projects in 24 of our Member Countries.”

Mr Ali Omar ALMOKTAR, the Chairman & General Manager Of BSIC Group commented: “the new Islamic banking windows will be a special opportunity to breed a new generation of entrepreneurs.” He added: “I am extremely pleased to collaborate with our partner ICD in establishing more Islamic windows in our network, given its track record and expertise in the Islamic Finance.”

About ICD

A member of the Islamic Development Bank (IsDB) Group, the ICD supports the development of the private sector in its member countries through providing Shariah-compliant finance facilities and/or investments. It also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises.

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About BSIC

Banque Sahélo-Saharienne pour l’Investissement et le Commerce is a regional financial institution established persuant to the Convention signed in Libya on 14/04/1999 and in accordance with the provisions of article (4) of the Treaty regarding the creation of the Community of Sahel-Saharan States signed in Tripoli on 04/02/1998.  The Head Office of the bank is situated in Tripoli, Libya. The Bank aims at providing all banking, trade and financial activities including the financing of economic development projects and the foreign trade. The Bank gives priority to projects implemented in the member countries and carries out its activities as set forth by its Convention of Creation and Articles of Association. The bank has created fourteen (14) affiliates as commercial banks from in the fourteen (14) SEN SAD countries.