Page 26 - ICD-AR22-English

ICD AND REFINITIV RELEASE THE ISLAMIC FINANCE DEVELOPMENT INDICATOR (IFDI)
2022 REPORT.
3.5 Other highlights of 2022
ICD maintains strong credit rating and stable outlook, according to Moody’s and Fitch Moody’s Investors Service has recently affirmed
the Islamic Corporation for the Development of the Private Sector (ICD) A2 issuer rating with a stable outlook, citing balanced risks to the credit profile and a strong liquidity position compared to similarly rated peers. Fitch Ratings also reaffirmed ICD’s Long-Term IDR at ‘A+’, indicating a strong creditworthiness. These affirmations reflect the financial stability
and creditworthiness of ICD.
ICD’s ‘BRAVEWomenYemen 2.0’ Initiative approved by We-Fi Secretariat
The Women Entrepreneurs Finance Initiative (We-Fi) Secretariat has approved the “BRAVE Women Yemen 2.0 Blended Finance” project proposal, prepared by ICD with a funding request of USD 5.5 million. This new initiative, the first of its kind in Yemen, will introduce new components to the existing BRAVE Women program and support
a greater number of women entrepreneurs in the country. The BRAVE Women program, which is already running in Yemen, Nigeria, and Burkina Faso, aims to enhance the resilience of women-owned or led SMEs (WSMEs) in fragile contexts and works to increase their business growth opportunities through capacity building and funding.
ICD and Refinitiv launch report on
Islamic finance and evolving landscape
of technology and society
ICD and financial data and infrastructure provider Refinitiv have jointly launched a report on the intersection of technology and society and the potential for Islamic finance to address the challenges presented by these trends. The report, which highlights the interrelatedness between technology and society, identifies opportunities and solutions anchored in Islamic finance that have the most potential to address the challenges we may face. It also discusses the potential of Islamic finance to lead market metamorphosis in response to these trends.
ICD and Refinitiv release the Islamic Finance Development Indicator (IFDI) 2022 report on the state of the global Islamic finance industry
ICD, in collaboration with Refinitiv, released the
IFDI 2022 report presenting the overall development of the Islamic finance sector. The report is a guide on the state of the global Islamic finance industry and measures countries across knowledge, governance, corporate social responsibility,
and awareness metrics.
ICD releases the first edition of the Fintech Market Entry Report series
In 2022 ICD published the first edition of its Fintech Market Entry Report series, focusing on Albania, Azerbaijan, Bosnia and Herzegovina, and Türkiye. The report is available on ICD’s website and aims to provide insights into the development and growth potential of the FinTech industry in these countries. The series is intended to be a resource for those looking to enter or expand in the FinTech market in member countries.
24 ICD ANNUAL REPORT 2022