One of the main goals of our member Islamic Corporation for the Development of the Private Sector’s (ICD) asset management department is to create an “Enabling Environment” for the growth of Islamic Finance and build “Partnerships” with the private sector to enhance resource mobilization.
The SME Funds at Asset Management Department of ICD is composed of close-end and private equity funds which offer a fund life of 10 +1+1 years and has ICD on board as an anchor investor. These funds are thematic and geographic in nature. Hence are externally managed based on the manager’s local and sectorial expertise. The platform strategically positions itself as a reference institution among the SME’s investors by developing a cohesive and active partnership structure with development finance institutions, government-backed funds, and foundations.
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The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is a member of the Islamic Development Bank (IsDB) Group. ICD was established in November 1999 to support the economic development of its member countries. ICD is Rated A2’ by Moody’s, ‘A’ by S&P and, A+ by Fitch. ICD establishes and strengthens cooperation and partnership relationships with an aim to establish joint or collective financing. ICD also applies financial technology (Fintech) to make financing more efficient and comprehensive.