ICD and FINOKO signed a MoU to cooperate in the establishment of the Islamic Microfinance Window

The Islamic Corporation for the Development of the Private Sector (ICDrdquo;) (www.ICD-PS.org), the private sector arm of IDB Group, and FINOKO have entered into a Joint Strategic Collaboration to establish an Islamic Microfinance Window.

The CEO of ICD, Mr. Khaled Al Aboodi and Mr. Turan Ismayilov the Chief Executive Officer of FINOKO sign the Agreement during IDB 42nd annual meeting at hotel Hilton in Jeddah.

Mr. Khalid Al Aboodi, CEO of ICD stated, ICD has always been interested about financial inclusion and measurable development impacts. This program will help cater the most vulnerable and target the most vulnerable and entrepreneurial class of clients. With the help of our partner ICD can become a pioneer promoter of Islamic Microfinancerdquo;.

Mr. Turan Ismayilov said, We are happy to be the first MFI to receive advisory services from ICD on establishing an Islamic microfinance window and we are looking forward to more co-projects with ICD to assist FINOKO reach its target clients and strengthen our capabilities and resourcesrdquo;.

Source: Islamic Corporation for the Development of the Private Sector (ICD).

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