Islamic Corporation For The Development Of The Private Sector – Member Of The Islamic Development Bank Group
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank (IsDB). Its authorized capital stands at US$4 billion, of which US$2 billion is available for subscription. Its shareholders consist of the IsDB, 55 member countries and five public financial institutions. Headquartered in Jeddah, the ICD was established by the IsDB Board of Governors during its 24th annual meeting held in Jeddah in Rajab 1420H (November 1999).
The mandate of the ICD is to support the economic development of its member countries by providing financial assistance to private sector projects in accordance with the principles of Shariah, aimed at creating employment opportunities and enhancing their export potential. Furthermore, the ICD has the mandate of mobilizing additional resources for projects and encouraging the development of Islamic finance. It also attracts co-financiers for its projects and provides advice to governments and private sector groups on policies aimed at encouraging the establishment, expansion and modernization of private enterprises, the development of capital markets, best management practices and the enhancement of the role of the market economy. The ICD’s operations complement the activities of the IsDB in member countries and also those of national financial institutions.
Website:
icd-ps.org
Social media:
Twitter: @ICD_PS
LinkedIn: icdps
Facebook: icdps
YouTube: ICDPS _TV