# Islamic Corporation for the Development of the Private Sector

Islamic Corporation for the Development of the Private Sector is a Bank / Wealth / Trust based in Jeddah, Saudi Arabia.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Jeddah, Saudi Arabia
- **Region:** Middle East
- **Address:** Jeddah, Saudi Arabia
- **Founded:** 1999
- **Assets under management:** Undisclosed
- **Website:** icd-ps.org
- **LinkedIn:** https://www.linkedin.com/company/icdps

## Regulatory record

- **Reports private funds:** No

## About

Islamic Corporation for the Development of the Private Sector is a Saudi Arabia-based financial institution established in 1999. It provides finance for private sector projects in its member countries. The corporation supports economic development in these countries.

## Sectors

- Financial Services
- Infrastructure
- Energy Transition & Renewables
- AgriTech & FoodTech
- Industrial Tech
- Healthcare Services
- Education
- FinTech

## People

- Ayman Amin Sejiny — CEO

## Questions

### Who runs investment decisions at ICD?

CEO Ayman Amin Sejiny leads the institution's overall strategy and investment decisions, supported by a senior management team that reports to a Board of Governors representing IsDB member countries. Investment committees review individual transactions for Shariah compliance and developmental impact before board approval.

### How does ICD source its deal flow?

ICD sources opportunities through in-country offices, relationships with local Islamic banks, and co-financing partnerships with other multilateral development finance institutions. Its mandate to serve underserved SMEs in frontier markets means origination often occurs through direct outreach rather than competitive auctions.

### Does ICD participate in fund commitments or only direct deals?

ICD primarily executes direct transactions: lines of financing to financial intermediaries, direct equity stakes in companies, and advisory mandates. It does not operate a fund-of-funds program in the traditional sense, though its financing to Islamic banks indirectly supports those banks' own SME lending portfolios.

### Which geographies does ICD focus on?

ICD operates across IsDB's 55 member countries, with significant activity in Sub-Saharan Africa, the Middle East and North Africa, and Central Asia. Key markets include Senegal, Uzbekistan, Bangladesh, Egypt, and Nigeria — regions where Shariah-compliant private-sector financing remains structurally undersupplied.

### How is ICD related to the Islamic Development Bank?

ICD is one of five entities within the Islamic Development Bank Group, created in 1999 specifically to focus on private-sector development. While IsDB itself lends primarily to sovereign governments, ICD targets private enterprises directly — a division of labor that mirrors the World Bank / IFC relationship.

## Related profiles

- [Isetan Mitsukoshi Holdings](https://altss.com/profile/isetan-mitsukoshi-holdings)
- [Islamic Development Bank (IsDB)](https://altss.com/profile/islamic-development-bank-isdb)

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Last updated: 2026-06-03T20:00:00.000Z

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