The Islamic Corporation – Financial & Investment Services in Jeddah, Saudi Arabia

About The Islamic Corporation in Jeddah, Saudi Arabia

The Islamic Corporation of the Development of the Private Sector (ICD) is a multilateral development financial institution with headquarter set in the city of Jeddah, Saudi Arabia. It is one of the important members of the Islamic Development Bank (IsDB) Group and it was formed in 1999 as a facility to aid economic growth of the member countries.

The main activity of ICD is to facilitate Sharia-compliant financing of the projects in the private sector in the member countries. The organization is involved in promoting competition, fostering entrepreneurship and fostering investment across national borders. The targeted projects of CDC financing includes contribution to economic development including creation of employment, growth of Islamic finance, and expansion of exports. The ICD also offers consultancy services to all the governments and the private companies on the way on how to incorporate and also modernize the privately owned business and also capital markets.

The credibility and power of the ICD is created due to its multilateral institution with strong and multilateral ownership structure. Its stockholders include the IsDB, 56 Islamic countries and five public finances. The above support provides it a strong platform and a platform that can regulate sustainable economic growth. The ICD also possesses extended history of funding diverse projects in many sectors, among them energy, transport, and social infrastructures. Specialized, and Sharia-compliant advisory and financing services allow companies and governments to turn to the ICD as a trusted and expert entity to enable an increase in the size of the privately-owned economy.