Albania signs deal to become ICD member

JEDDAH, June 8 – Albania has signed agreements to become a member of the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group (IDB), Khaled Al-Aboodi, General Manager, announced following last week’s 8th General Assembly.
Al-Aboodi told Arab News that ICD’s mandate is to support economic development of its member countries by providing financing to private sector projects in accordance with principles of Shariah, thus promoting private sector development. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. Projects financed by ICD are selected on the basis of their contribution to economic development by creation of employment opportunities and contributions to exports. (Tirana Times Staff)