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: [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)

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.

Brief history

Faysal Bank was incorporated in 1994 with the sole aim of helping people and businesses grow financially. Fully equipped with the skills and professionalism, we are not just a bank, but an integral partner in our customer’s journey toward economic and financial excellence.

We emerged in the banking industry with the competent backing of highly qualified leadership and professional excellence of our parent company, Ithmaar Bank — a Bahrain-based Islamic retail bank that provides retail, commercial, treasury, financial and other banking services.

Faysal Islamic Banking

Faysal Bank launched its first dedicated Islamic branch in August 2009. Within 10 years, Faysal Islamic Banking grew to be the largest Islamic branch network of a conventional bank in Pakistan, having 250-plus dedicated Islamic banking branches among a network of 450-plus branches.

Our Islamic banking practices are well researched, under State Bank of Pakistan regulations and Shariah principles.

IdealRatings was incorporated in 2006 in San Francisco with a corporate objective to provide SRI/ESG and Shariah compliant solutions to ethical investors and enable them to identify such instruments across different asset classes in the global market. IdealRatings serves clients in over 30 countries with a range of capital market solutions including:

• Equities – A web-based platform covering over 40,000 stocks, where fund managers can screen equities using different, custom-built ESG/SRI/Responsible Investments and Shariah rulebooks or guidelines. This solution caters to different purification calculation methodologies with a comprehensive set of reports for fund managers to manage their portfolio.

• REITs – Global coverage of all listed REITs that could be screened in accordance with different standard Shariah rulebooks or guidelines.

• Indexes – Co-branded and jointly marketed by FTSE-Russell Indexes and a separate series with Thomson Reuters for the global markets, designed for fund management and investment benchmarking. In addition, IdealRatings is able to provide custom-built indexes for the fund management industry.

• Sukuk – A unique solution which includes the global Sukuk and a pioneering Sukuk-screening solution that enables fund managers to customize their Sukuk selection in accordance to their Shariah rulebook, guidelines or investment preference, and

• Brokerage – The solution provides broking houses the ability to screen global equity markets, a technical analysis of the markets and equities, buy/sell/hold recommendations and purification amounts.

Pak-Qatar Takaful Group (PQTG), the first and largest dedicated Takaful group in Pakistan’s Islamic finance industry, comprises Shariah compliant enterprises like Pak-Qatar Family Takaful (PQFTL), Pak-Qatar General Takaful (PQGTL), Pak-Qatar Investment, Pak-Qatar Asset Management Company and Qatar Group. These enterprises are driven by modern technology and a service culture to achieve the fastest growth and high credibility, by providing innovative protection, savings and investment solutions.

Alhamdulillah! Our resolute efforts over the past decade as the pioneer and flag-bearer of Takaful have undoubtedly been rewarded by Allah and by the people of Pakistan with the continuous strong and unwavering support from the shareholders representing the State of Qatar.

All the companies are registered with the Securities and Exchange Commission of Pakistan. PQFTL and PQGTL commenced Takaful operations in the year 2007. The group has the historic privilege and honor of launching PQFTL as Pakistan’s first and largest Family Takaful company. PQGTL is also among the pioneers and the second-largest non-life (General) Takaful company in the country.

Pak-Qatar Takaful companies, with a vision of ‘Providing financial protection through Takaful to everyone’, is not only Pakistan’s pioneer and the largest Takaful group but is also the third-largest private sector corporate conglomerate in the entire insurance/Takaful industry of Pakistan. The group is proudly managing assets valued over PKR32 billion (US$175.78 million).

PQTG annually contributes over PKR11 billion (US$60.42 million) to Pakistan’s GDP. Further, the group has settled and paid claims to Takaful participants of more than PKR34.3 billion (US$188.42 million) since inception. PQFTL is the world’s first and only Family Takaful operator that has consistently declared and distributed a surplus of approximately PKR650 million (US$3.57 million) since it was formed.

Takaful serves as a Shariah compliant alternative to insurance and thereby all Pak-Qatar Takaful products are duly certified with Fatwas (Islamic pronouncements) issued by an independent Shariah advisory board which comprises world-renowned Shariah scholars and chaired by Mufti Muhammad Hassaan Kaleem. Mufti Taqi Usmani was the founding chairman of PQTG’s Shariah advisory board since inception and had named Mufti Muhammad Hassaan Kaleem as his successor in 2019. PQTG is the first to establish a dedicated in-house Shariah department with a team of Shariah scholars and experts providing round-the-clock support in all spheres related to Shariah learning, research and compliance.

The group’s shareholders include some of the strongest financial institutions in Qatar, including and not limited to; Qatar Islamic Insurance Company and QIIB. Further, our shareholders also include FWU (Germany), a leading insurance solutions provider in Europe.

Pak-Qatar Group’s paid-up capital is in excess of PKR2.8 billion (US$15.38 million), which entirely represents foreign direct investment in Pakistan, mostly from Qatar-based members of the group’s board of directors and shareholders.

The group is chaired by Sheikh Ali Abdullah Thani, AI-Thani (a member of Qatar’s royal family). Other prominent members of the board of directors and shareholders from Qatar in the group include Abdul Basit Ahmed Al-Shaibei (CEO, QIIB), Ali Ibrahim Al Abdul Ghani (CEO, Qatar Islamic Insurance Company), Said Gul, Zahid Hussain Awan and Muhammad Owais Ansari, to name a few.

The group’s insurer financial rating remains robust, whereby PQFTL is rated ‘A+’ with a stable outlook by VIS Credit Rating Co and Pakistan Credit Rating Agency (PACRA), while PQGTL is rated ‘A’ with a stable outlook by PACRA.

PQTG has the largest Takaful branch networks in Pakistan, boasting over 165 branches in more than 125-plus cities nationwide. In addition to our physical presence of branch locations across Pakistan, we also deliver 24/7 alternate distribution channels accessibility through all digital media, online payments and e-commerce web portals, pioneering mobile applications and other smart electronic touchpoints.

PQFTL is currently providing need-based financial protection to more than 3,000 corporate clients and over one million individual Takaful members for the individual family, bancaTakaful, group family and group health business segments. Pak-Qatar Family has around 350-plus prominent hospitals on its panel across Pakistan to provide best healthcare to Takaful members.

PQFTL is strengthened by re-Takaful arrangements with Munich Re, Hannover Re and Hannover Retakaful.

PQGTL is backed by Kuwait Re-Takaful, Tunis Re-Takaful, Kenya Re-Takaful, Saudi Re-Takaful and Arab Re-Takaful.

PQFTL enjoys a strategic bancaTakaful alliance with FWU (Germany), a leading technology company based in Munich, Germany for the distribution and instant issuance of Takaful policies at over 4,500 bank branches across Pakistan in more than 135 cities. PQFTL enjoys strong relationships with 12 commercial banks and three microfinance banks.

PQGTL offers coverage to over 1,500 corporate members in sectors such as textile, pharma, hospitals, various industrial risks, banks and Modarabas and over 30,000 individual Takaful members. PQGTL’s major segments include: fire and allied perils, marine (inland, import and export), engineering, motor, cash in safe, cash in transit, financial lines and travel.

The main asset of company is human talent. Pak-Qatar Group takes pride in having the best industry practitioners in the world working with dedication for the company. The group is also considered among the best employers of Pakistan with a workforce of over 5,000-plus people spread all over Pakistan. The highly competitive compensation and benefits combined with the opportunity for extensive training and development on a continuous basis from fresh graduates to highly trained professionals are commensurate with performance excellence. The group continues to invest in human capital with over PKR2 billion (US$10.99 million) in talent investment on an annual basis.

PQTG has won many international awards including ‘Best Takaful Company’ by FPCCI in 2020, `Best Takaful Company’ by Global Islamic Finance Awards in London 20I9, `Brand of the Year’ at the FPCCI Awards in Karachi 2018, `Best Takaful Operator’ by IFN Awards in 2017, `Best Takaful Operator in Pakistan’ at the 10th International Takaful Summit London 2016 and ‘Best Takaful Company in Pakistan’ for the year 2015 at the RTC Islamic Banking & Finance Awards ceremony in Islamabad and many more.

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.