About ICD

The Islamic Corporation for the Development of the Private Sector (“ICD”) is a multilateral development financial institution and is part of the Islamic Development Bank (“IDB”) 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 has an authorized capital of $4 billion. Currently, the shareholders of ICD are the IDB, 52 Islamic countries and five public financial institutions. 

ICD fosters sustainable economic growth in its 52 member countries by financing private sector investment, mobilizing capital in the international financial markets ...


The overall objectives of ICD are:

  • To identify opportunities in the private sector that could function as engines of growth and to provide them with a wide range of financial products and services.
  • To encourage the development of Islamic financing and capital markets.

To complement the role played by the IDB through the development and promotion of the private sector as a vehicle for boosting economic growth and prosperity.


To become a premier Islamic multilateral financial institution for the development of the private sector.


ICD started its operations in July 2000 and has financed projects in agriculture, construction, education, finance, fishing, health care & pharmaceutical, oil & gas, real estate, technology, telecoms, trading, transportation, power generation and has made investments in over 30 member countries.

ICD’s activities are centered on four strategic focus areas:

− Developing Islamic financial channels in order to create multiplier impact.

− Providing advisory services for establishing Islamic finance windows and converting conventional financial institutes into Islamic organizations.

− Providing finance for investments in high impact sectors and helping governments by providing advisory services in privatization, Sukuk issuance, and structuring project finance deals.

− Improving its partnership with IDB Group and other MDBs and heavily leverage internal and external partners to go beyond its own resources.