ICD to open two new Islamic banks in Africa

The Islamic Corporation for the Development of the Private Sector (ICD) considers opening two new Islamic banks in the countroes of Mali and Benin in the coming year. This was announced by the CEO of the ICD - H.E. Khaled Mohammed Al-Aboodi - at the Islamic Banking Summit Africa in Djibouti. This way, Islamic financial services can be provided in a greatly underserved area. Furthermore, the corporation intends to issue a $200 million Sukuk which is to serve the Government of Senegal to provide liquid Islamic products for Islamic banks.