Naoki Nishida

Tokyo deal boon for ICD member states

The Islamic Corporation for the Development of the Private Sector (ICD) and the Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad (BTMUM) have signed a memorandum of understanding (MoU) to form a joint strategic collaboration to tap opportunities in the Islamic finance industry. Khaled Al-Aboodi, ICD’s CEO and general manager, and Naoki Nishida, BTMUM CEO, inked the MoU at BTMU headquarters in Tokyo. The parties intend to leverage each other strengths and expertise especially to expand its Islamic finance activities in the ICD member countries. Khaled Al-Aboodi said the agreement will strengthen and deepen the ICD’s relationship with its non-traditional partners from the Pacific region especially to promote cross-border investment in ICD member states.

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