ICD and TUV SUD consider entering into a strategic partnership and collaborate in developing the private sector in the countries of Central Asia

14 March 2017

News & Press Release

Astana, Kazakhstan – 14 March 2017

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group and TUV SUD signed a memorandum of understanding (MoU) to foster their joint operations, and expand the services offered to private sector investors in the countries of Central Asia.

The Chief Executive Officer and General Manager of ICD, Mr. Khaled Al Aboodi and the Managing Director of TUV SUD Central Asia, Mr. Anar Ahmadov, signed the MoU on behalf of the two organizations during IFN CIS forum in Astana, the capital of Kazakhstan on March 14.

The aim of the MoU is to facilitate cooperation between ICD and TUV SUD in promoting private sector participation in developing the member countries and inform about business opportunities in countries of Central Asia. This partnership will enable the two institutions to work closely on, among other things, market studies related to the transit and logistic sector in the common member countries.

During the signing ceremony, Mr. Khaled Al-Aboodi welcomed the expanding relationship between ICD and TUV SUD Central Asia. “Ensuring close and effective cooperation between international institutions has to be a top priority in this period of economic turmoil.  ICD and TUV SUD can provide mutual assistance to promote private investment and infrastructure in the member countries, to create jobs and future growth opportunities.”

Anar Ahmadov added: “This MoU will enhance closer and more effective collaboration between TUV SUD and ICD and render our respective activities more effective and beneficial to the private sector players in the countries in which we undertake our respective operations.”

 

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About the Islamic Corporation for the Development of the Private Sector (ICD)

ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments, which are in accordance with the principles of Shari’a. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information, visit www.icd-ps.org

About TUV SUD

TÜV SÜD was established in 1866 years ago in Germany. It is a leading global provider of technical services, helping its clients improve quality, safety, reliability while ensuring environmental protection and cost effectiveness. More than 20,000 highly skilled employees in over 800 offices around the globe, pool their multidisciplinary expertise to partner clients in their business process, enhancing their competitive strength and delivering tangible economic added value.

ICD and TUV SUD consider entering into a strategic partnership and collaborate in developing the private sector in the countries of Central Asia

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