Development Bank Group (IDB)

ICD, Kolon in deal to set up Islamic leasing companies in OIC

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.

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