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Islamic Corporation for the Development of the Private Sector (ICD) bags the “The Most Outstanding Institution for Contribution to Islamic Finance” award in Kuala Lumpur

By Islamic Corporation for the Development of the Private Secto
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The Islamic Corporation for the Developmentof the Private Sector (ICD) (www.ICD-idb.org) was presented the prestigious “The Most Outstanding Institution for Contribution to Islamic Finance” award at the Kuala Lumpur Islamic Finance Forum (KLIFF) Awards Ceremony 2015, which was held in conjunction with the 12th Kuala Lumpur Islamic Finance Forum in Kuala Lumpur on 1 December 2015.

Hailed as one the most respectable market-led awards in Islamic banking and finance, the annual Kuala Lumpur Islamic Finance (KLIFF) Awards aims to highlight the best practices in Islamic banking and finance, and honor and acknowledge the significant efforts and contributions of individuals and institutions in the Islamic finance industry. Both foreign and local Islamic financing institutions are polled for the various categories of the awards. The guest of honor for this year's ceremony was YB Senator Dato' Dr. Asyraf Wajdi Dato' Dusuki, Deputy Minister in the Prime Minister's Department of Malaysia, Malaysia, who also presented the awards to the winners.

Mr Khaled Aboodi commented, “On behalf of ICD, we are pleased to be accorded this prestigious award. It is a an honor for ICD to be receiving this award and to witness ICD gain recognition and stand alongside a long list of admirable Islamic finance institutions and industry leaders, all of whom have worked diligently to drive Islamic finance growth in the global sphere. Since its inception in 1999, ICD has dedicated itself to private sector development through Sharia'a compliant means in its 52-member countries to provide access to finance and promote inclusive growth through reducing inequality and poverty. We have achieved remarkable results not only in financial terms, but most importantly in our efforts to achieve sustainable development goals. And all of these is an accumulation of the strong support of our stakeholders. Receiving this award is a testament to our collective efforts in the domestic and international arena, and it will spur us to strive even harder to stay committed to our role and duty as a multilateral development financial institution.”

For further information please contact: Nabil Al-Alami Head, Marketing E-mail: [email protected] Website: www.icd-idb.org

About the Islamic Corporation for the Development of the Private Sector (ICD) The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-idb.org) is a multilateral organization, part of the Islamic Development Bank (IDB) Group. ICD was established in November 1999 to promote economic development of its member countries in accordance with the principles of the Shari'a through private sector development. ICD encourages the establishment, expansion and modernization of private enterprises through financing private sector enterprises or projects. Projects are selected on the basis of their contribution to economic development considering factors such as creation of employment opportunities and contribution to exports. ICD also provides advice to governments and private sector groups on policies to encourage the establishment, expansion and modernization of private enterprises, development of capital markets, best management practices and enhance the role of market economy. ICD operations complement the activities of the IDB.