ICD to Provide EUR 15 Million Murabahah Financing Facility to Coris Bank International- Burkina Faso

The Islamic Corporation for the Development of the Private Sector (ICD), a unit of the Islamic Development Bank (IsDB), has entered into an agreement with Coris Bank International (CBI) - Burkina Faso, which is a member of the Coris Bank Group, to provide a line of financing for EUR 15 million (USD 18 million).

The line of financing facility, which is under the commodity Murabahah financing structure, will be provided to the Islamic window of CBI - Burkina Faso and will be used to support the economic activities of eligible private sector businesses in the country that have been impacted by the COVID-19 pandemic, according to media reports.

According to Ayman Amin Sejiny, Chief Executive Officer of ICD, the facility is part of ICD’s USD 250 million support pack...