The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank (IsDB).
ICD’s authorized capital stands at USD 4 billion, of which USD 2 billion is available for subscription. Its shareholders consist of the IsDB, 55 member countries and five public financial institutions. Headquartered in Jeddah, ICD was established by the IsDB Board of Governors during its 24th annual meeting held in Jeddah in Rajab 1420H (November 1999).
With its significant role in driving inclusive and dynamic growth, private sector development has been the primary focus of the ICD since its inception in November 1999. ICD’s mission is to complement the role played by the Islamic Development Bank (IsDB) through the development and promotion of the private sector as a vehicle for boosting economic growth and prosperity, with a vision of being a premier Islamic multilateral financial institution for that purpose.
ICD’s objectives as the private sector arm of the Islamic Development Bank (IsDB) Group, in accordance with the principles of the Shari’ah, include: i) to identify opportunities and initiatives in the private sector that could function as engines of growth, ii) to provide a wide range of productive financial products and services for private sector development; iii) to mobilize additional resources for the private sector in member countries, and iv) to encourage the development of Islamic financial and capital markets.
OUR MISSION
To complement the role played by the Islamic Development Bank through the development and promotion of the private sector as a vehicle for boosting economic growth and prosperity.
OUR VISION
To become a premier Islamic multilateral financial institution for the development of the private sector.
Disclaimer: Any country borders or names used in this report do not necessarily reflect ICD’s official position. Any maps are for illustrative purposes and do not imply the expression of any opinion of ICD concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries.