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Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD cooperates with Azerbaijan National Academy of Sciences High Technologies Park to help SMEs

Through this collaboration, both institutions will be exploring potential investment opportunities that may contribute to developing the private sector of the ICD member countries as well as to achieving the strategic goals of ANAS HTP

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and Azerbaijan National Academy of Sciences High Technologies Park (ANAS HTP) have entered into a Joint Strategic Collaboration to help provide financing to companies and SMEs interested in realizing investment projects…

Source: The Department of Trade and Industry, South Africa |

Government Officials to Receive Training on Special Economic Zone in China

According to the Minister of Trade and Industry, Dr Rob Davies, the training forms part of a five-year agreement signed between South Africa and China in 2014

A group of 34 Special Economic Zones (SEZ) practitioners and supporting sector specialists from the Department of Trade and Industry (the dti), provincial departments and agencies responsible for the implementation of the SEZ Programme depart for Tianjin, China tomorrow to attend the fourth Capacity Building Programme on the SEZ taking…

Source: International Monetary Fund (IMF) |

IMF Reaches Staff-Level Agreement on a Second Staff-Monitored Program with Somalia

For 2017, as the drought is expected to continue, growth is projected to decelerate to about 2.0 percent, and inflation to increase to above 3 percent

IMF staff welcomes the authorities’ continued commitments to policy and reform implementation despite daunting challenges The Somali authorities and the IMF reach a staff-level agreement on the completion of the second and final review of the Staff-Monitored Program (SMP) and on a second SMP The IMF welcomes the authorities’ continued…

Source: International Monetary Fund (IMF) |

IMF Staff Completes 2017 Article IV Visit to South Africa

Headline inflation is expected to return below 6 percent in the second half of 2017 and in 2018, making it appropriate for policy rates to remain on hold, and for the central bank to stand ready to increase rates if inflation expectations were to rise

South Africa’s rate of real GDP growth is projected at 1 percent in 2017 thanks to a resumption of solid agricultural production as the drought abates, and an increase in mining output prompted by a moderate rebound in the prices of South Africa’s commodity exports. Headline inflation is expected to return…

Islamic Corporation for the Development of the Private Sector (ICD)
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD, the private sector arm of the Islamic Development Bank Group (“IDB”) cooperates with Coris Bank International to launch Islamic windows

Through this collaboration, ICD is assisting Coris Bank International’s subsidiaries in launching 4 dedicated Islamic windows in Cote d’Ivoire, Mali, Senegal and Benin

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and Coris Bank International have entered into a Joint Strategic Collaboration to establish Islamic window. The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Idrissa Nassa, CEO and Chairman of…

Source: U.S. Embassy Pretoria, South Africa |

Power Africa Launches New Initiative at African Utility Week

Power Africa announced the launch of its Southern African Energy Program this week in Cape Town, South Africa.  This announcement came as representatives from Power Africa, a U.S. government-led initiative, and the U.S. Mission in South Africa participated in African Utility Week and the Gas to Power World Congress. The…

Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD and FINOKO signed a MoU to cooperate in the establishment of the Islamic Microfinance Window

The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Turan Ismayilov the Chief Executive Officer of FINOKO sign the Agreement during IDB 42nd annual meeting at hotel Hilton in Jeddah

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, and FINOKO have entered into a Joint Strategic Collaboration to establish an Islamic Microfinance Window. The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Turan Ismayilov the Chief Executive Officer…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD Signs MOU with the City Bank Limited to Strengthen Collaboration

The joint collaboration will encompass the areas of Term Finance, Public Private Partnership transactions, Lines of Finance and any other areas of mutual interest

On May 18, 2017, the Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of Islamic Development Bank (IDB) Group signed a Memorandum of Understanding with City Bank, Bangladesh in order to strengthen collaboration for fostering private sector development in the country. The signing…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

ICD, Saba Islamic Bank (SIB) and Al-Kuraimi Islamic Microfinance Bank (KIMB) support Business Resilience of MSMEs in Yemen under BRAVE Project

The pilot phase will support around 300 firms in five key sectors (agribusiness, food processing, fisheries, garmenting and health care) through an integrated package of tailored training program and financial support in partership with four local banks

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), the private sector arm of IDB Group, Saba Islamic Bank (SIB) and Al-Kuraimi Islamic Microfinance Bank (KIMB) have entered into partnership to support Business Resilience of MSMEs under the pilot phase of BRAVE Project currently implemented jointly with…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) enters into a strategic alliance with Amana Bank PLC, Sri Lanka

With this landmark transaction, ICD via IBGF is expected to infuse growth capital of maximum USD 15 million through subscription in the capital of Amana Bank PLC

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of the Islamic Development Bank Group, being the lead sponsor and manager of IB Growth Fund (Labuan) LLP (“IBGF”) and Amana Bank PLC (“ABL”), the first and the only full-fledged Islamic Bank in Sri…