Posted by: APO | 11 June 2015

The Islamic Corporation for the Development of the Private Sector (ICD) have signed an agreement with The Banque Commerciale du Chari (BCC) to launch soon Islamic banking window in Chad


The Islamic Corporation for the Development of the Private Sector (ICD) have signed an agreement with The Banque Commerciale du Chari (BCC) to launch soon Islamic banking window in Chad

A strategic partnership aiming to support the banking industry and the Islamic finance industry in Chad

MAPUTO, Mozambique, June 11, 2015/African Press Organization (APO)/ In the signing session of the 40th IDB Group Annual Meeting, the Islamic Corporation for the Development of the Private Sector (“ICD”) (http://www.icd-idb.com), the private sector arm of the Islamic Development Bank Group (“IDB”) and The Banque Commerciale du Chari (BCC) sign an agreement for the establishment of an “Islamic window”.

Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/icd.jpg

Photo: http://www.photos.apo-opa.com/index.php?level=picture&id=2161

On behalf of Mr. Khaled Al Aboodi, the CEO and General Manager of ICD, Mr Juanito Juan Limandibhratha, the Director of Risk Management Department in ICD and Mr. Cherif tom Kasser, the Commcercial and Branches Network Director on behalf of Mr. Bichara Brahim Kossi, the Deputy CEO, signed the agreement.

Through this advisory mandate, ICD is assisting BCC in launching the first dedicated and truly separate Islamic window in Chad by providing them with total solution covering sharia, accounting, Information Technology, Marketing and communication, Human Resources and legal aspects combined with an on-site extensive theoretical training and supported by on-job training in Islamic banks.

Mr. Khaled Al Aboodi, the CEO of ICD commented :”For ICD, this cooperation with Banque Commerciale du Chari is a strategic partnership aiming to support the banking industry and the Islamic finance industry in Chad. ICD aims to complement Islamic finance’s role as a facilitator of growth and a viable funding mechanism for various economic sectors to fulfill a wide spectrum of financing needs”.

Mr. Bichara Brahim Kossi, the Deputy CEO of BCC commented: “It is a historic event which will allow the « Banque Commerciale du Chari » to be the very first financial institution to develop real Sharia-compliant financing products in Chad. Our goal is to be the privileged partner regarding operations corresponding to the Sharia rules. The collaboration between the BCC and the ICD constitutes also a big opportunity for the chadian economy, especially for the small- and medium-sized enterprises, because the leadership and the experience of the ICD in the promotion and development of private sector are not to be anymore demonstrated. For all these reasons we are very pleased and encouraged to establish this partnership with the ICD”.

Distributed by APO (African Press Organization) on behalf of The Islamic Corporation for the Development of the Private Sector (ICD).

About the Islamic Corporation for the Development of the Private Sector (ICD)

The Islamic Corporation for the Development of the Private Sector “ICD” (http://www.icd-idb.com) is a multilateral organization whose mandate is to support the economic development of its 52 member countries by providing financing to private sector projects in accordance with the principles of Islamic law. ICD finances specific projects leading to significant job creation and economic stimulus in member countries. Moreover, ICD mobilizes additional resources to support the development of Islamic finance. It also attracts partners for the projects it undertakes and advises governments and private sector companies on the policies to be implemented in order to foster creation, expansion and modernization of private enterprises, along with the development of financial markets and best practices management.

About The ” Banque Commerciale du Chari” (BCC)

The “Banque Commerciale du Chari” (BCC) is a chadian-libyan bank that operates in various market segments: retail, corporate, institutional and public sector. The BCC offers its customers (businesses, organizations and individuals) all of the different products and services of commercial banks such as checking and savings accounts, personal and business loans, financing foreign trade, etc. Moreover, the BCC aims at working at a sustainable development in all the domains through the support for the investors by the mobilization of private, public, internal and external resources, the promotion and the optimization of banking services in Chad, the assistance to the SME’s in the rehabilitation of their projects, and the promotion of the domestic and international trade.

SOURCE

Islamic Corporation for the Development of the Private Sector (ICD)


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