The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and member of the Islamic Development Bank (IsDB) Group. Established in November 1999 and headquartered in Jeddah, Saudi Arabia, it provides Sharia-compliant financing and advisory services to support private sector projects in its 57 member countries.
ICD has an authorized capital of $4 billion. Its shareholders include the IsDB, approximately 56 Islamic countries, and five public financial institutions. The institution focuses on promoting entrepreneurship, competition, employment, and cross-border investments, with activities spanning sectors such as energy, manufacturing, and financial services.
In June 2026, ICD signed a memorandum of understanding with SOCAR to explore financing opportunities for public-private partnership projects in Azerbaijan and other member countries.
Also known as الشركة الإسلامية لتنمية القطاع الخاص.
Joint MoU to explore financing for public–private partnership projects in Azerbaijan and other member countries, with ICD providing tailored Sharia-compliant solutions for project companies.
