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Islamic Corporation signs agreement with Private Sector

Mr. Ayman Sejiny, the CEO of The Islamic Corporation for the Development of the Private Sector (ICD) the private sector arm of IsDB Group, and Mr. Thierno SY, the CEO of the Banque Nationale pour le Development Economique (BNDE)-Senegal, signed a EUR 12 Million Shariah-compliant Line of financing agreement to support the SMEs in Senegal adversely affected by the COVID-19 outbreak.
The facility comes under the allocation of ICD’s USD 200 Mn COVID-19 Line of Financing Support Package to support the private sector affected by the pandemic by leveraging on the expertise of the banking system of its member countries.
ICD’s facility will help with expanding the bank’s product offerings by the provision of Shariah-compliant financing in response to the growing demand for Islamic finance to support COVID-19 affected projects and industries.”

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