Islamic Banking | SME Finance Forum

24 Apr, 2024

Inaugural Information Session Global SME Finance Awards 2024

BE RECOGNIZED, SHARE IMPACT IN SME FINANCE The SME Finance Forum organizes the Global SME Finance Awards ( The Awards) as a core part of its mission to create a unique platform for peer connections, knowledge dissemination, and innovations in SME...

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Introducing the SME Finance Virtual Marketplace

May 16, 2023

The “SME Finance Virtual Marketplace” is an online match-making platform that promotes partnership and collaboration between financial institutions, fintech companies and development finance institutions/ investors.

The virtual Marketplace is powered by GlobalLinker, an AI powered ‘Digital Ecosystem’ offering SMEs a range of services to build digital presence including e-commerce.

How does the Marketplace operate?

To participate in the marketplace session, your institution must have an institutional profile (company profile) and personal profiles (individuals representing the companies) set up on the marketplace. Institutional profile shall also include products/services being offered.
Representatives of your institution can explore offerings available in the platform, such as investment products, advisory services, technology solutions...etc.
The virtual platform enables individuals to reach out to one another to discuss potential collaboration and partnership at their own convenience.

Marketplace Pitch Sessions

The marketplace sessions are scheduled monthly and feature institutions (DFIs, fintechs, investors, etc.) who present their products/services during a 7-minute pitch.
Following the presentations, participants can reach out directly to the presenting institutions to make inquiries or explore partnership opportunities.

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Leader Dialogue Series - Interview with Ayman Amin Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector, Member of IsDB Group

Mar 24, 2021

Learn from Ayman Amin Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector, Member of IsDB Group, about his experience in Sharia-compliant financing, ethical standards and sustainability, and the importance of helping SMEs with the right funding during the pandemic.

The SME Finance Forum’s Leader Dialogues, is a new series of one-on-one interviews with CEOs, senior executives of financial institutions and technology companies as well as financial sector regulators.

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ICD Launches “Finnovation Award” to Recognize Innovative and Outstanding Financial Institutions

Dec 08, 2020

We are happy to share that our member Islamic Corporation for the Development of the Private Sector’s (ICD) has established Finnovation Award to recognize, showcase and encourage financial institutions that provide an outstanding solution to the financial industry.

Finnovation awards are a part of their new online platform “Finnovation” which was launched recently to list and highlight successful innovations of Financial Institutions (FIs) and FinTech startups at a global level. The ICD Finnovation Award’s winners will be invited to join ICD in a very special ceremony during the IsDB Group’s Annual Meetings in June 2021. The award aims to promote leading financial institutions, provide them with the opportunity to exchange knowledge globally and also, provide them with chances to receive funding from ICD to scale up innovation.

Please click here to learn more about the awards>

About ICD

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.  

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ICD’s Asset Management Portfolio Offers Two Major SME Funds

Dec 03, 2020

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.

To know about the SME Funds offered by ICD, please read more>

Saudi SME Fund (Afaq Fund) in Saudi Arabia and Theemar Fund in Tunisia.

About ICD

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ICD Releases its Report on the BRAVE Project

Nov 24, 2020

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New Member: We welcome ICD to the SME Finance Forum global membership network

Nov 20, 2020

Washington D.C., November 20, 2020 - We are excited to share that the Islamic Corporation for the Development of The Private Sector (ICD), the private sector development arm of the Islamic Development Bank (IsDB) Group , has joined the SME Finance Forum (Forum) global membership network. The Forum brings together development financial institutions, banks, and Fintechs from around the world to support SMEs through knowledge exchange, policy change, and impactful partnerships.

Video call with ICD executives and SME Finance Forum CEO

“When we started the Forum in 2012, we were in an exploratory phase for the first few years. Since 2016, we’ve been implementing our mission to build a global membership to support better SME financing, and since then, we’ve established a network with over 200 active members, who operate in over 190 countries sharing the common purpose of helping under-served enterprises. We are delighted to welcome ICD to further grow our mission.” said Matthew Gamser, CEO of the SME Finance Forum.

ICD has an authorized capital of USD 4 billion and fosters sustainable economic growth in its 55-member countries by financing the private sector projects and mobilizing capital in the international financial markets. ICD also provides advisory services to its clients on policies designed to encourage the establishment, expansion, and modernization of private sector and entrepreneurship. . ICD’s shareholding comprises of IsDB, 55 OIC member countries and five public financial institutions.

“We realize that the role of forward-looking and well-supported private sector in achieving inclusive economic development is fundamental. We take pride in being the first multilateral private sector development financing institution in the world offering Islamic finance for the private sector and with new and promising opportunities provided by the Forum, we hope to further support the private sector development in our member countries” Ayman Sejiny, CEO of ICD.

About SME Finance Forum

The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.

About ICD

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is member of the Islamic Development Bank (IsDB) Group. 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 the governments and private companies, and encouraging cross border investments. 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.

Media Contact

Carina Carrasco

ccarrasco@worldbank.org

11 Feb, 2026

CEO Virtual Roundtable - A Leadership Outlook on SME Finance

Supply & Value Chain Finance

Background: SMEs are the backbone of economies worldwide and contribute significantly to job creation. Access to financial services is cited as the key barrier to most SMEs inhibiting their growth. Financial Institutions have a significant role to...

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Fintech: Friend, Foe or Frenemy? - Podcast with member Alraedah Finance

Dec 18, 2023

In the latest episode of Couchonomics, Arjun was joined by Paul Melotto, Executive Board Member at Alraedah Finance.

Paul has played a key part in Arjun’s journey to understand the Saudi ecosystem, especially regarding fintech and financial services.

In the episode, Arjun and Paul discussed:

The state of Non-Banked Financial Institutions in KSA
The liquidity gap faced by SMEs and how to address it
Examples of government initiatives supporting SMEs
The possibility of banks changing their attitude toward SMEs
Whether fintechs are considered friends, foes, or frenemies
What regulators can do to unlock potential in the SME and NBFI nexus
Alraedah Finance’s plans to help SMEs over the next 3 years

https://www.youtube.com/watch?v=QwFmd1-rkH8

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Ghazanfar Bank joins the SME Finance Forum to promote access to finance for MSMEs

May 13, 2022

Washington D.C., May 13th – Ghazanfar Bank joins the SME Finance Forum as the newest member of our global membership network. Our members are SME financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.

“When we started in 2012, we were in an exploratory phase for the first few years. Since 2016, we’ve been implementing our mission to build a global membership to support better SME financing, and since then, we’ve established a network with over 240 active member institutions, which operate in over 190 countries sharing the common purpose of helping under-served enterprises.
We are delighted to welcome Ghazanfar Bank to further grow our mission.” said Matthew Gamser, CEO of the SME Finance Forum.

Ghazanfar Bank is a commercial bank based in Afghanistan and affiliated with Ghazanfar Group, one of the leading business groups in the country. It offers key financial services both under conventional and Islamic banking.

"By joining the SME Finance Forum, we hope to share knowledge and experience with other market players, learn about alternative ways to do traditional asset-based lending and expand our network among other financial institutions working with SMEs’’ said Hakimullah Hazif Kofi, CCO of Ghazanfar Bank.

About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +240 members that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list

About Ghazanfar Bank
Ghazanfar is a commercial bank based in Afghanistan and affiliated with Ghazanfar Group, one of the leading business groups in the country. It offers key financial services both under conventional and Islamic banking.
Learn more at:
Website: https://www.ghazanfarbank.com/
LinkedIn: https://www.linkedin.com/company/gb-kabul/
Twitter: https://www.instagram.com/ghazanfarbank/
Facebook: https//www.facebook.com/Ghazanfarbankofficial/
Instagram: https://www.instagram.com/ghazanfarbank/

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