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.

The 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 governments and private companies and encouraging cross-border investments.

The ICD has an authorized capital of US$4 billion. Currently, the shareholders of the ICD are the IDB (50%), 53 Islamic countries (30%) and five public financial institutions (20%).

ICD mandate and objectives

The ICD fosters sustainable economic growth in its 53 member countries by:

• Financing private sector investment
• Mobilizing capital in the international financial markets, and
• Providing advisory services to business and governments.

The ICD selects the financing projects based on their contribution to economic development considering factors such as job creation, Islamic finance development, contribution to exports, etc. The ICD also provides advisory services to governments and private sector groups on policies designed to encourage the establishment, expansion and modernization of private enterprises, the development of capital markets, best management practices and to enhance the role of the market economy. The ICD operates to complement the activities of the IDB in member countries.

The ICD is rated ‘AA/FQ’ by Fitch Ratings, ‘Aa3/P-1’ by Moody’s Investors Service and ‘A+’ by Standard & Poor’s.

FOR MORE INFORMATION

Tel: (966-12) 6361400; (966-12) 6441644

Fax: (966-12) 644 4427

Email: [email protected]

Website: www.icd-ps.org

Established 26 years ago in 1994 as a multilateral institution and a member of the Islamic Development Bank Group, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) was tasked to promote cross-border trade and foreign direct investments in its member countries.

The ICIEC’s mission is to make trade and investment between member countries and the world more secure through the Shariah compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in member countries.

The ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions.

Today, the ICIEC supports trade and investment flows in 47 member countries spanning across Europe, Asia, the Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as export credit agencies and insurers.

The International Islamic Trade Finance Corporation (ITFC) is a member of the IDB Group. It was established with the purpose of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. The ITFC commenced operations in January 2008 and has since consolidated all trade finance businesses that used to be handled by various windows within the IDB Group. Earning an ‘A1’ rating from Moody’s Investors Service reflects the ITFC’s efficiency in service delivery by responding swiftly to customer needs in a market-driven business environment.

Since 2008, the ITFC has provided more than US$40.2 billion of trade financing to OIC member countries, making it the leading provider of trade solutions for the needs of OIC member countries. With a mission of being a catalyst for trade development among OIC member countries and beyond, the ITFC helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.

 

Contact us at:

Twitter: @ITFCCORP
Facebook: @ITFCCORP
Linkedin: International Islamic Trade Finance Corporation (ITFC)

Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: ITFC[email protected]
Website: http://www.itfc-idb.org/en

The Islamic Development Bank Group Business Forum (THIQAH) is the window of the IsDB Group that facilitates contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique platform for effective dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. Through facilitation and catalyst roles, THIQAH will be leveraging the IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group’s financial products and services. (www.idbgbf.org)

Akin Gump is a global law firm with more than 900 lawyers and advisors who pride themselves on dedication to their clients and their communities. With 20 offices worldwide, the firm is renowned for numerous market-leading practices, its strengths in complex corporate and finance transactions and restructurings, high-stakes litigation, public policy and regulatory matters and its unyielding pro bono commitment.

With an integrated team of lawyers based in New York, London, Dubai and Abu Dhabi, the firm’s Islamic finance practice offers clients around the world a highly experienced team advising on Shariah compliant finance and investment, including acquisition finance, syndicated and bilateral financings, fund finance and asset and project finance transactions.

Members of the team are known for developing innovative structures and their commercial approach, creating bespoke solutions to help clients achieve their goals through first-of-a-kind and award-winning transactions.

Founded in 1998 and headquartered in London, with an office in Dubai and a presence in both Saudi Arabia and Malaysia, DDCAP is a leading provider of asset facilitation services and financial technology and system solutions across a diverse range of Shariah compliant products, asset classes and instruments in both the primary and secondary markets. DDCAP’s wholly-owned subsidiaries include DD&Co and DDGI. DDCAP has an extensive track record within the Islamic finance industry, employing over 35 professionals with broad and complementary skill sets drawn from diverse financial industry backgrounds, focused principally on providing service to Islamic financial market participants around the world. DDCAP has its own Shariah supervisory board comprising esteemed Shariah scholars from Saudi Arabia, Malaysia and Kuwait. DDCAP’s multi-award-winning Shariah compliant ETHOS Asset Facilitation Platform is a bespoke, real-time trade and post-trade services platform providing 24-hour coverage, enabling clients worldwide to purchase from a diverse asset inventory, including commodities, via a secure, web-based portal.

Moody’s is a global risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions and fair access to information open the door to shared progress.

TAJBank secured its banking License from the Central Bank of Nigeria on the 3^rd July 2019 and commenced operations on the 2^nd December 2019 with two pioneering branches — its corporate branch in Abuja and a branch in Kano.

From inception, the bank has demonstrated an immense appetite for growth and innovation, rendering exceptional quality services to customers and nurturing a well-motivated workforce. As a non-interest bank with the strategic intent of providing excellent services through technology and digital innovation, the bank focuses on building a powerful brand as a deposit money bank with solutions and competencies in non-interest banking while adopting sustainable and ethical conventional banking products and services by leveraging on mainstream and social media.

The bank has a vision to become “the leading African financial institution with a reputation for excellent customer experience and innovative solutions” while its strategic vision is “to build a sustainable ethical brand through exceptional service, innovation and professionalism whilst enhancing stakeholders’ value”.

To engender unflinching commitment to its mission and vision, guide its strategic behaviors and offer exceptional services to customers, the bank’s core values include: trust and justice; customer-centricity; excellence; determination; and innovation.

Since commencing operations in December 2019, the bank has demonstrated its commitment to sustainable growth and expansion, adding new and innovative products and services as well as branches. The bank has opened three branches — Sokoto, National Assembly and Kaduna — including a Liaison office in Lagos, in addition to the two branches (Abuja and Kano) it started with in 2019, culminating into five robust and responsive branches in a very short period in an unprecedentedly turbulent and volatile global business environment occasioned by COVID-19.

In this period, the bank secured licenses for major critical banking products, including letter of credit dealership and foreign exchange among others. The strategic commitment of the bank is to be among the dominant non-interest banks operating in Nigeria with a 75% market share and comprehensive non-interest banking products and services coverage; rank among the Top 10 deposit money banks in Nigeria; and pursue global branch expansion to achieve at least 40 branches across state capitals/major commercial centers in Nigeria by 2025.

After eight months of productive operations, excellent strategic leadership and effective performance management, the bank achieved its breakeven in the month of August 2020 and proceeded to record the highest earnings per share in Nigeria’s banking industry with its shareholders earning NGN11.82 (2.86 US cents) per share, representing an appreciation of 1,182% on every NGN1 (0.24 US cent) investment by them in the 2020 financial year.

TAJBank is an innovation-driven bank and would continue to build on its values of trust and justice, customer-centricity, determination, excellence and innovation to expand across Nigeria and Africa in the long term.

Launched in April 2021, Redmoney Consulting is a new and highly focused advisory firm focusing on global Islamic, Ethical, Responsible and Sustainable Finance. Redmoney Consulting is a logical extension of REDmoney Group, the Islamic finance industry’s leading media house with a truly global audience. In addition to Islamic finance, the Group has steadily increased its coverage of the green and sustainable finance sector as the two markets continue to converge. Redmoney Consulting provides an expansive service allowing its consultants to provide advisory and consulting services at the highest level for the most discerning of clients.