Islamic Corporation for the Development of the Private Sector (“ICD”)
The Islamic Corporation for the Development of the Private Sector (“ICD”) is a multilateral development financial institution and is part of the Islamic Development Bank (“IDB”) Group. ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to the governments and encouraging cross border investments.
ICD has an authorized capital of $2 billion of which $1.0 billion is available for subscription. Currently, the shareholders of ICD are the IDB (50%), 52 Islamic countries (30%) and five public financial institutions (20%).
ICD Products and Services
1- Long and Short-term Financing
ICD’s mandate, to serve the private sector of member countries, is carried out through the provision of a variety of products offered to its clients. ICD finances private sector entities and Greenfield or expansion projects directly through equity participation, the purchase of assignable bonds and term financing. ICD also extends short-term finance to cover working capital and/or raw materials requirements of private sector entities through Murabaha or Purchase and Lease-Back for a tenor of up to 24 months. ICD can also play a role in mobilizing resources for financing a project through co-financing or syndication.
2- Developing Islamic Financial Institutions and Extending Lines of Finance.
ICD strives to nurture and empower identified channel partners, by setting up or aiding existing development banks in driving development and growth in the Islamic world. This vertically leverages two key instruments in order to extend financial aid: Institutional Equities and Lines of Finance.
ICD extends lines of financing to selected banks and financial institutions in its Member Countries as a means to improve the access of Small and Medium size Enterprises (SMEs) to medium term financing and concurrently strengthening the balance sheet positions of the beneficiary banks.
3- Advisory Services and Asset Management
ICD provides a wide variety of advisory services to governments, public entities and private entities of member countries with an aim to create the ideal environment to facilitate private sector investment and also to assist companies in achieving their potential. The range of services include issues such as assessing the business environment of member countries, along with the required reform actions, plus advisory services at project level in issues such as project financing, restructuring/rehabilitation of companies, privatizations, Public Private Partnership (PPP), project finance advisory, raising funds though the issue of Sukuk, development of Islamic capital markets and encouraging the development of the business environment for SMEs.
CONTACTSTel: (966-12) 6361400
Tel: (966-12) 6441644
Fax: (966-12) 644 4427
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