IslamicFinance.de

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), and Kolon Corporation signed a memorandum of understanding (MoU) for jointly establishing Islamic leasing (ijara) companies to support small and medium enterprises (SMEs) in 57-member countries of the Organization of Islamic Cooperation (OIC).
The MoU was signed by ICD's CEO and General Manager Khaled Al-Aboodi and Kolon's CEO and President Kim Nam-soo.
The MoU arranges the establishment of a platform for mutual collaboration on market studies related to the leasing industry in countries where the project is to be initiated.