Between 1999 and 2009, ICD launched various initiatives to strengthen its role in the private sector of its member countries.

During this time, ICD organized numerous workshops and investment visits across various regions, including the Far East, Central Asia, MENA, and Sub-Saharan Africa, which led to the identification of significant projects and the establishment of Islamic banks and leasing companies. A key initiative introduced was the promotion of special economic zones (SEZs) through partnerships and seminars on public-private partnerships (PPP), further expanding ICD’s advisory services. The establishment of entities such as Tamweel Africa and a leasing company in Azerbaijan highlighted ICD’s commitment to fostering Islamic financial institutions. ICD has consistently focused on expanding private sector involvement, strengthening capacity building, and fostering partnerships to drive cross-border investments, solidifying its role as a key facilitator in the evolving financial landscape of its member countries.