The Islamic Private Sector Development Corporation (ICD), a multilateral organization affiliated with the Islamic Development Bank (IsDB), has launched a global platform for the promotion of the sector in Marrakech at the IsDB’s Private Sector Forum.
In this platform, a community of like-minded financial entities can collaborate on business opportunities, exchange market information and lay the foundations for real financial transactions in the member countries of the Organization of Islamic Cooperation (OIC) and across borders, says the ICD in a statement.
Through this initiative, ICD intends to demonstrate FinTech’s productive applications in modern business affairs, reduce financial transaction costs for banks, leasing companies and member microfinance institutions and improve the advisory services it provides. its clients and partners through the Islamic development network, the source said.
The mission of the ICD is to support economic development and promote private sector development in member countries by providing financing facilities and / or investments consistent with Shariah principles. ICD also advises governments and private organizations to encourage the creation, expansion and modernization of private enterprises.
Organized from 03 to 06 April under the High Patronage of King Mohammed VI, the 44th Annual Meeting of the IsDB Group deals with the theme of “transformation in a changing world: a journey towards the Sustainable Development Objectives”.