IslamicFinance.de

The role is responsible to develop a mechanism/framework to measure and monitor the development impact of various projects undertaken by ICD and reporting the evaluation assessment reports to the business units, senior management, and the Board of Directors.

A new $50 million fund - the Central Asia Renewable Energy Fund - was launched by the Islamic Corporation for Development of Private Sector (ICD). According to the CEO of the corporation, Mr. Khaled Al-Aboodi, the money will be used to benefit countries of the Caucasus and Central Asia Regions, most important of which will be Kazakhstan, Azerbaijan and Turkey. Further target countries of the fund include Kyrgyzstan, Turkmenistan, Tajikistan, Uzbekistan, Bosnia, Albania and Kosovo. Factors like growing environmental awareness, evidence of climate change, scarcity of fossil fuels, and an increasing commitment by governments to support new sources of energy lead to growing interest in renewable energy in these countries.

Read more on: http://www.abc.az/eng/news_12_10_2012_68763.html

On monday, Islamic Development Bank (IDB) Group opened its office of business forum (thiqah) at the Investment Coordinating Board (BKPM) in Jakarta. Since this is the bank's first office beyond the boundaries of Saudi Arabia, it is expexted that it will contribute to IDB's expansion and mobilization of its resources and promotion of Indonesia as a major investment destination for IDB's members. This move will enable a connection between Indonesia and investors from other Muslim countries, thus taking advantage of the rapidly growing Islamic economy.

More on: http://www.thejakartapost.com/news/2012/09/18/jeddah-based-idb-sets-busi...