ICD Facilitates Murabahah and Wakalah Financing Agreements for Private Sector Enterprises in Côte d’Ivoire

The Islamic Corporation for the Development of the Private Sector (ICD) has signed an agreement with Banque de l’Union - Côte d’Ivoire (the Bank or BDU-CI), to finance private sector enterprises in Côte d’Ivoire. The EUR 8 million line of commodity Murabahah and Wakalah-structured financing agreement was signed by Ayman Amin Sejiny, Chief Executive Officer of ICD and Wélé Diallo, Managing Director of BDU-CI.

Why it matters?

Sejiny stated that the facility would be used by BDU-Côte d’Ivoire to finance the economic activities of eligible businesses within the country’s private sector. The CEO noted that the financing agreements would provide support to private sector businesse...