About

Established in 1999 and headquartered in Jeddah, Saudi Arabia, the Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and a member of the Islamic Development Bank (IsDB) Group. ICD's mandate is to support the economic development of its 54 member countries by providing Shari'ah-compliant financing to private sector projects, promoting competition and entrepreneurship, and encouraging cross-border investments. ? ICD offers a range of Shari'ah-compliant financial products and services, including:? Medium to long-term financing for private sector projects that contribute to economic development and job creation.? Credit facilities extended to local financial institutions in member countries to support private sector enterprises, particularly small and medium-sized enterprises (SMEs). ? Investments in private sector companies to promote entrepreneurship and competition.? Management of investment portfolios that align with ICD's development objectives.? Consultation on structuring and financing projects in compliance with Islamic finance principles.?

Eligibility

• To be eligible for ICD financing, projects must:
• Be Privately Owned: Investments are made in privately owned companies or those where government ownership does not exceed 49% of voting stock.
• Align with ICD's Development Objectives: Contribute to economic development, job creation, and have significant export potential.
• Demonstrate Financial Viability: Showcase a sound business model with clear revenue streams and growth potential.
• Comply with Shari'ah Principles: Operate in accordance with Islamic finance principles.