ICD Asset Management

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank (IDB) Group established in 1999. The mandate of ICD is to support the economic development of its member countries through the provision of finance to private sector projects according to the principles of Shari’a law. ICD provides funding for initiatives expressly designed to increase exports and provide job opportunities. Furthermore, ICD mobilizes additional resources for projects and encourages the development of Islamic financing and capital markets. It also attracts co-financiers for its projects and provides advice to governments and private sector groups on policies aimed at encouraging the establishment, expansion, and modernization of private enterprises, development of capital markets, best management practices, and enhancing the role of the market economy. As part of their service, they provide venture capital to small and medium-sized businesses, as well as manage/sponsor other funds created by institutional investors. ICD invests in all sectors except recreation and defense and only invests in privately owned companies. ICD provides advisory solutions for developing and financing small and medium-scale infrastructure projects in the private sector or PPP projects such as independent power projects, utilities, industry, and telecom sectors. ICD mobilizes additional resources for projects and encourages the development of Islamic financing and capital markets.