Landmark Sukuk issuance: ICD successfully returned to the international Sukuk market, issuing a benchmark five-year USD 500 million senior unsecured hybrid Wakala/Commodity Murabaha Sukuk.

ICD’s first operations with Local FIs in Benin and Togo: ICD disbursed EUR 29 million to BIIC Benin and EUR 20 million to Coris Bank Togo, supporting SMEs in sectors such as agribusiness, transport, health, and education.

Strengthening presence in East and Central Africa: ICD approved over USD 46.6 million, including USD 30 million to Uganda Development Bank and USD 16.6 million to CCA Bank Cameroon, to support local SMEs.

Pioneering local currency Sukuk issuance in Kazakhstan: ICD raised KZT 2 billion through a five-year amortized Sukuk, marking its first Sukuk denominated in Kazakh Tenge and demonstrating its commitment to fostering the growth of Islamic finance in Central Asia.

Supporting Uzbekistan’s energy transition: In collaboration with Stone City Energy, ICD is involved in the financing of the development of a 1,560MW Combined Cycle Gas Turbine (CCGT) power plant in the Surkhandarya region. This project is being implemented under a Build-Own-Operate-Transfer (BOOT) structure.

Supporting industrial growth in Bangladesh: ICD provided a EUR 22.5 million facility to Abul Khair Strips Processing Limited (AKSPL), a subsidiary of the Abul Khair Group. This financing allowed AKSPL to increase its production capacity from 305,000 to 505,000 metric tons, driving industrial growth in Bangladesh.

Extending a lifeline: In response to the COVID-19 outbreak, ICD swiftly earmarked USD 250 million in emergency funding, including USD 200 million for LOF facilities, to support private sector resilience in critical sectors such as agri-food and energy across member countries.

Supporting the aviation industry: ICD provided USD 50 million as lead financier in a USD 75 million syndicated Murabaha financing for ALAFCO, a Kuwait-based aircraft leasing company. The funding supported ALAFCO’s recovery and growth as global air travel rebounds, strengthening its fleet of 79 aircraft and 68 on order.

Milestone Sukuk issuance: ICD completed a 5-year USD 300 million Sukuk issuance, the largest since its inception, rated A2 (stable) by Moody's and A (negative) by Fitch Ratings.

Strengthening SME support: ICD joined the SME Finance Forum (SMEFF) Global Network.

ICD’s first LOF facility in Côte d'Ivoire: ICD approved a EUR 35 million LOF to NSIA Banque in Côte d'Ivoire, marking its first LOF operation in the country. The facility is aimed at supporting eligible private sector companies in Côte d'Ivoire.

Championing sustainable recovery: ICD became an official signatory of the Coalition Statement for a sustainable and inclusive recovery of the private sector, partnering with organizations such as the African Development Bank, the West-African Development Bank, FinDev Canada, the U.S. Development Finance Corporation, and the Association of European Development Financial Institutions, to promote long-term, inclusive economic growth and recovery.

Expanding impact investing reach: ICD joined the Global Impact Investing Network (GIIN). GIIN is the leading non-profit network of organizations dedicated to increasing the scale and effectiveness of impact investing worldwide.

ICD’s first foray into Turkmenistan: ICD signed a USD 10 million LOF agreement with the State Bank for Foreign Economic Affairs of Turkmenistan (SBFEAT). This inaugural operation in Turkmenistan aims to support private sector development and foster economic growth in the country.

Landmark facility for Bangladesh’s SME sector: ICD provided a USD 20 million Murabaha facility to Lanka Bangla Finance Limited (LBFL), the first foreign currency facility dedicated to SMEs by a Bangladeshi NBFI.

Breaking new ground in Islamic banking in member countries: ICD played a crucial role in transforming Tawhidbank into the first Islamic bank in Tajikistan, marking a significant milestone for the country's financial sector.

ICD's first bank holding group facility: ICD approved a EUR 45 million LOF for Afriland First Group to support SMEs through its Islamic windows in Cameroon, Côte d’Ivoire, and Guinea – the first such facility extended to a bank holding group.

First Line of Financing to NBFI in Sub-Saharan Africa: ICD approved a EUR 4 million Line of Financing to Fidelis Finance Burkina Faso, marking its first NBFI operation in the region.

Promoting renewable energy: ICD approved USD 75 million to support Egypt's Feed-in Tariff (FiT) program, aimed at developing 4,300MW of wind and solar capacity. This initiative, in collaboration with global development finance institutions, enhanced Egypt's energy security, improved power sector efficiency, and reduced reliance on fossil fuel imports.

Breaking new ground: ICD’s investment in Amana Bank in Sri Lanka introduced Islamic banking to a non-member country, showcasing its ability to expand the reach of Islamic finance beyond traditional boundaries.

Introducing Islamic banking to South America: ICD helped transform Trustbank Amanah in Suriname into the region's first Islamic bank, providing guidance on Shari’ah governance, product development, and operational frameworks.

ICD’s partnership with Al Akhdar Bank: ICD partnered with Crédit Agricole du Maroc (CAM) to establish Al Akhdar Bank, following the Bank of Maghreb’s issuance of Islamic banking (participatory banking) licenses.

Powering Jordan’s energy transition: In alignment with Jordan's national energy policy goals, ICD extended its support for renewable energy development through a USD 30 million term finance facility. The facility supported the development, construction and operationalization of the Shobak Wind Project, a 45MW independent power project (IPP) located near the town of Shobak, south of Amman, Jordan.

Enhancing free zone competitiveness: A cooperation framework was signed to support the Noudhibou Free Zone Authority (NFZA) in Mauritania in adopting international best practices in organizational design, human resource management, and financial planning and management. This was achieved through a twinning program with the Aqaba Special Economic Zone Authority (ASEZA) in Jordan, a leading model in the field.

Supporting Mali’s power sector: ICD approved a USD 22.3 million term finance facility to support the development of a heavy fuel oil (HFO)-fired power plant in northwest Mali, addressing the country’s electricity shortage.

Enhancing healthcare infrastructure: The Manisa Education and Research Hospital project in Türkiye was co-financed by ICD and stands as a milestone in public-private collaboration. The initiative was spearheaded by YDA Group, a prominent PPP player in Türkiye, in partnership with the Ministry of Health.

Pioneering Islamic finance in Tunisia: In 2015, ICD invested TND 45 million (USD 22.5 million) to transform El Wifack Leasing into Wifak International Bank (WIB), partnering with Tunisia’s Caisse des Dépôts et Consignations (CDC) and local investors. By 2016, WIB became a fully operational Islamic bank, offering Shari’ah-compliant financial solutions and enhancing banking access across Tunisia.

Establishment of the BRAVE Program: Initially implemented in Yemen, the program aimed to enhance the resilience of SMEs in fragile and conflict-affected regions by providing capacity building, matching grants, and value chain support.

Supporting sovereign Sukuk in West Africa: ICD advised the Government of Cote d’Ivoire on its debut sovereign Sukuk issuance.

Expanding reach: ICD became a member of the International Development Finance Club (IDFC), enhancing its global network.

ICD’s 2nd capital increase: ICD’s General Assembly approved the increase of the authorised capital of ICD to USD 4.0 billion and shares available for subscription to USD 2.0 billion.

ICD SDGs Theory of Change: In response to the global launch of the SDGs in 2015, ICD updated its strategy and introduced the ICD SDGs Theory of Change.

Establishment of the Sukuk Issuance Program: ICD established a dual London and Nasdaq Dubai listed Regulation Shari’ah compliant Sukuk Issuance Program, marking its first public fundraising in the capital markets.

Pioneering Islamic finance in Africa: ICD advised the Government of Senegal on its debut Sukuk, which was the first Sukuk issuance in the West African region.

ICD earns top credit ratings from leading agencies: Fitch rates ICD AA/F+1, Moody’s rates ICD Aa3/P-1, and S&P awards ICD an AA rating.

Supporting textile growth in Bangladesh: ICD approved a USD 30.5 million leasing facility to Noman Group, Bangladesh’s largest textile and apparel conglomerate. The financing supported the operations of Ismail Spinning Mills Ltd., a 70,000 spindle spinning mill, as well as the expansion of Noman Terry Towel Mills, one of the group's subsidiaries.

Investing in the financial sector: ICD approved USD 80 million in LOF operations for Azerbaijan, Uzbekistan, and Tajikistan and signed USD 126.5 million in agreements, including USD 40 million for Uzbekistan under a prior USD 50 million approval.

Empowering Palestine’s private sector: ICD worked with the Palestine Investment Fund (PIF) and Palestine Islamic Bank (PIB) to establish the Palestine Ijara Company (PIC). With USD 12 million in paid-up capital, including USD 4 million from ICD, PIC aims to broaden access to non-banking financial services and support Palestine’s private sector growth.

Expanding telecommunications in Gabon: ICD approved a USD 21.5 million term finance facility to support the expansion of a mobile telecommunications network in Gabon, increasing coverage from 17 cities to 49 cities. This initiative aimed to enhance connectivity across the country, promoting economic development and improving access to communication services for a larger population.

Pioneering ethical finance and sustainability: ICD contributed USD 10 million to Maldives Islamic Bank (MIB), which began its operations in March 2011 as the first Islamic commercial bank in the Maldives. The initial paid-up capital of the bank was USD 11.76 million, with the Government of Maldives also holding shares in the bank.

Advancing the development of special economic zones: Launched a new program to promote and support the development of Special Economic Zones (SEZs) in member countries through a multi-donor advisory fund.

Pioneering Islamic finance in the Maldives: Through strategic negotiations and collaboration with the Maldives Monetary Authority, ICD secured approval to launch Maldives Islamic Bank (MIB), a move that introduced Islamic banking to the Maldives. MIB is the country’s first fully Shari’ah compliant bank.

Redefining global liquidity: As a founding shareholder, ICD supported IILM, the exclusive issuer of Shariah-compliant short-term Sukuk, backed by ten central banks from Asia, Africa, and the GCC. With over USD 109 billion in issuances, IILM set a global benchmark for ethical finance and liquidity solutions.

1st capital increase: ICD’s General Assembly approved the increase of the authorised capital of ICD to USD 2.0 billion and shares available for subscription to USD 1.0 billion.

Expanding Islamic finance across regions: Azerbaijan and Africa: ICD enhanced access to Islamic finance by establishing a leasing company in Azerbaijan (Ansar Leasing), catering to the financial needs of local businesses and fostering economic growth. Additionally, ICD spearheaded the creation of Tamweel Africa Holding, a leading entity aimed at promoting Islamic finance across several African countries.

Promoting special economic zones: Launched a flagship initiative to promote and develop special economic zones (SEZs) in member countries.

Enhancing financial inclusion in Djibouti and Yemen: ICD approved a Line of Financing (LOF) of USD 3.5 million to SABA Islamic Bank, allocating USD 1 million for SME financing in Djibouti and USD 500,000 for advancing microfinance initiatives in both Yemen and Djibouti.

Pioneering LOF transactions: ICD approved its first Line of Financing (LOF) transactions, including facilities for BCI Mauritania, Unibank, and Rabita Bank Azerbaijan, its longest-standing LOF client to date.

ICD’s equity investment in Byblos Bank Africa: Established in 2003, Byblos Bank Africa operates under Islamic Shari’ah principles. ICD holds an equity stake alongside Byblos Bank SAL, the majority shareholder, and the OPEC Fund for International Development.

ICD’s first operation in Syria: ICD provided USD 7.5 million in financing to the Syrian Saudi Company for Chemicals, marking its inaugural operation in Syria.

Support for healthcare sector investments: ICD provided USD 2.6 million in financing to Jamjoom Pharma and approved a USD 10 million purchase and leaseback arrangement for Middle East Healthcare Company, supporting the growth of the healthcare sector.

ICD’s first equity investment: ICD's first equity investment launched the Islamic International Rating Agency (IIRA), addressing the need for independent ratings tailored to Islamic financial institutions and Sukuk. IIRA did not fully begin operations until July 2005.

Launch of the Injazat Technology Fund: ICD and Gulf Finance House jointly launched the USD 50 million Injazat Technology Fund in Bahrain, each committing USD 12.5 million to support small and medium-sized enterprises in IT, telecommunications, and related sectors.