ICD and KIMB signed a MoU to cooperate in Islamic #Microfinance
The Islamic Corporation for the Development of the Private Sector (ICD) and Al Kuraimi Islamic Microfinance Bank (KIMB) have entered into a Joint Strategic Collaboration to implement Islamic Microfinance Institutions. The memorandum was signed by the CEO of ICD, Mr Khaled Al Aboodi and the CEO of KIMB, Mr. Yousuf Al Kuraimi. The collaboration will focus on the implementation of Islamic Microfinance Institutions and Banks. KIMB will make equity investments conditioned upon ICD and its affiliates co-investing alongside. Special focus is on the provision of required technical and advisory services by ICD for the global expansion and diversification of KIMB’s current operations beyond Yemen.
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