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

Bank Assafa is the leader of participative banks in Morocco operating in 17 main cities of the country with a total of 26 branches.
Bank Assafa is a subsidiary of and fully owned by Attijariwafa Bank, the leading banking and financial group in North Africa.

BTI Bank is a Moroccan participatory bank founded through the alliance of two renowned groups recognized at the international level for their performance and expertise : BMCE Bank of Africa, a continental leader that covers all the areas of banking and financial activities; and Al Baraka Banking Group, a world pioneer in participatory banking.

BTI Bank capitalizes on the experience of its founders by adopting an efficient model to offer financial participatory services following the highest quality standards. Indeed, customers are at the heart of the strategy of BTI Bank and positioned as real and equal partners. The bank offers everyday banking services and finance solutions to support its customers to achieve and succeed in their projects.

In recognition of its excellence, BTI Bank has been selected in 2019 as the best client service provider of the year in the participatory category.

For more information on BTI Bank, visit www.btibank.ma.

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.

The Perth Mint (the Mint) is Australia’s largest and most highly accredited precious metals enterprise. Through its diverse operations and trusted products and services, it develops markets and creates demand for Australian precious metals the world over. Operating the leading refinery in the southern hemisphere and the only facility in Australia accredited for gold and silver by the London Bullion Market Association, the Mint maintains endorsements from commodity trading centers in London, New York, Tokyo, Shanghai and Dubai. Each year, the Mint exports US$14 billion-worth of bullion bars and coins to institutional and private investors located in 130 countries and, with a reputation for innovation and excellence, it issues legal tender commemoratives on behalf of the Commonwealth of Australia and surrounding nations for collectors.

Wholly owned by the government of Western Australia, the Mint offers the world’s only precious metals investment and storage program guaranteed by a sovereign entity and currently manages US$3 billion-worth of metals on behalf of 30,000 clients. Committed to sharing the remarkable story of gold with the global community, the Mint also hosts a premier tourist destination.

Teamwill, the flagship of the French scale-ups, is the national leader of the solutions dedicated to asset finance. Teamwill’s leading 350 consultants and experts accompany clients in the redefinition of their front to back processes, integrating the most innovative software solutions of the market: distribution, grant, credit management, recovery, risk management, regulatory compliances and accounting.

Anis Chakroun, the president of Teamwill, has established, with his teams, the basics of an agile and efficient strategy of sustainable and international growth that targets European leadership through double growth, internally and externally. Teamwill’s client portfolio is made up of major international retail banks and financial companies specializing in Islamic finance, consumer credit, leasing or automobile credit.

AlHuda Centre of Islamic Banking and Economics is working diligently and under vigilance shariah
compliant standards since its inception. AlHuda CIBE was established in 2005 and Mr. Zubair Mughal is its
Chief Executive Officer. AlHuda CIBE has been accredited as a distinguished service provider due to our
notable services, team of dedicated professionals and one stop solutions of Islamic banking and finance.
Our aim is to provide state-of-the-art and science services of Islamic banking and finance worldwide.
AlHuda head office is in UAE and regional offices are in Pakistan and in South Africa. AlHuda CIBE is
omnipresent worldwide for its various services:

• Advisory & Consultancy
• Research & Development
• Education & Capacity Building
• Shariah Advisory
• Publications & Events

Website link: www.alhudacibe.com

True Banking is a Bi-Monthly magazine working to deliver Islamic banking & financial services with specific focus on research development, market analysis, training and advancements. The prime aim of True Banking is to create awareness of Islamic banking and finance in the masses and to make available a platform to get the latest news, innovations and updates of national and international banking and finance industry. It is an addition to our achievements towards developing and promoting Shariah compliant financial industry worldwide.