Islamic Corporation for the Development of
the Private Sector (ICD)
Member of the Islamic Development Bank Group (IDB)
October, 2014
Enabling Enterprise - Building Prosperity
IsDB Group - 2014
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
2
ICD’S MISSION IS TO PROMOTE PRIVATE SECTOR DEVELOPMENT
IN MEMBER COUNTRIES
ICD is a multilateral financial institution with an authorized capital
of USD 2.0 billion. ICD shareholders consist of the IDB, 52
member countries, and five public financial institutions.
◘ Headquarters in Jeddah, ICD was established in 1999 by the IDB
Board of Governors with a mandate to promote growth and
development in member countries through the provision of Sharia
compliant financing to feasible and viable private sector projects.
◘ ICD operates to complement the activities of IDB in member
countries and also that of national financial institutions.
◘
The mandate of ICD is to support economic
development of member countries by providing
financial assistance to private sector projects in
accordance with the principles of Islamic Sharia
ICD targets private sector projects that are
financially and economically viable and have a
significant developmental impact through job
creation and export potential enhancement.
Vision
To become a
leading multilateral
Islamic financial
institution
dedicated to the
development of the
private sector in
member countries
ICD also strives to encourage the
development and promotion of Islamic
financial markets and capabilities in member
countries
ICD also encourages and facilitates the
channeling of foreign investment into member
states, and provides advice to governments
and private enterprises when needed
3
A SIZEABLE GLOBAL FOOTPRINT
WEST & EAST AFRICA
Benin
Burkina Faso
Cameroun
Chad
Comoros Isles
Cote d’Ivoire
Djibouti
Gabon
Gambia
Guinea
Guinea Bissau
Mali
Mozambique
Niger
Nigeria
Senegal
Sierra Leone
Sudan
Uganda
C. ASIA &
EUROPE
Albania
Azerbaijan
Kazakhstan
Kirgizstan
Tajikistan
Turkey
Turkmenistan
Uzbekistan
EAST ASIA
Bangladesh
Brunei
Indonesia
Malaysia
Maldives
Pakistan
South America
MENA REGION
Algeria
Bahrain
Egypt
Iran
Iraq
Jordan
Kuwait
Lebanon
Libya
Mauritania
Morocco
Palestine
Qatar
Saudi Arabia
Syria
Suriname
Tunisia
U.A.E
Yemen
52 member countries,
representing 1.5 billion
people
4
ICD SCOPE OF OPERATIONS
WHAT WE DO
OUR REACH
OUR PORTFOLIO
Investing in and financing private
sector projects, in addition to
providing advisory services to
public and private sector actors in
member countries
4 offices covering MENA, Africa,
Asia and CIS
USD2.6 BN in approved
investments between 2000 and
2013
Business lines:
Business Development &
Partnerships
Over 100 international investment
and financial professionals
Extensive network of partner MDBs
and financial institutions
Over 260 investments and financial
transactions in 40 countries since
inception
Financial Institutions Development
Direct Investments & Financing
Advisory & Asset Management
5
ICD COVERAGE TEAMS ON THE GROUND IN 4 CONTINENTS
Regional Office in Almaty
•
•
Samir Nadir Taghiyev (Europe & CIS Coverage)
Jamshid Akhmedov (Uzbekistan Coverage)
Regional Office in Kuala Lumpur
Regional Office in Dakar
•
•
Mamadou Barro (Regional Manager for Africa
Coverage)
Momar Gueye (Africa Coverage)
•
•
Products Teams
Head Office in Jeddah Coverage Team
•
•
•
•
•
•
Farid Masmoudi (Director)
Ariff Shafzan Bin Hasan (Partnership & Syndications)
Chahir Ben Halima (MENA Coverage)
Cyndo Obre (MENA Coverage)
Atiq Nakrawala (Associate Coverage)
Ali Camlioglu (Associate Coverage)
Ahmed Bin Abdul Khalid (Head Asia Coverage)
NoorAzmi Mohd Razalli (Asia Coverage)
•
Over 100 Investment
Professionals and
Bankers covering:
 FIDD
 DIFD
 ASAM
6
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
7
COMPREHENSIVE STRATEGY & PROGRAM
ICD’s strategic objective is to promote private sector development in member
countries by building and promoting Islamic financing capabilities and
facilitating enterprise access to this financing
Strategic Operational Framework
Building Islamic
Finance Channels
By establishing and
investing in the following
types of institutions:
•
•
•
•
•
Islamic Banks
Ijara Companies
Takaful Companies
Mortgage Companies
Investment Companies
Selective Direct
Investments
By providing growth capital
to enterprises:
• Equity Financing:
- Musharaka (Equity)
- Quasi Equity
• Term Financing:
- Installment Sale
- Leasing
- Profit Sharing
- Deferred Delivery
- Istisna’a
- Murabaha
- Purchase and Lease
Building an Enabling
Business Environment
By providing advisory
services to governments and
private sector actors with a
focus on:
Restructurings
Islamic Finance
Special Economic Zones
Raising and managing
PE funds
• Privatization
• SME Advisory
•
•
•
•
Building Partnerships
By building a substantial
network of MDBs and private
sector financial institutions
and leveraging this network
to develop business
opportunities and to mobilize
and channel to member
countries.
Back
- Diminishing
Musharaka
8
AMBITIOUS AND PROGRAMATIC OBJECTIVES
Promote
private-sector
development in
member
countries
Encourage
cross-border
investments
Strategy
1440 H / 2020 G
Stimulate
economic and
social progress
in member
countries
Objectives 1440 H / 2020 G
 Generate 1 million new job
opportunities in member countries
Provide and
promote Islamic
finance services
and products
 Facilitate access to finance for 1
million low income individuals in
member countries
 Build and develop 50 Islamic
financial institutions
 Improve overall business
environment in 10 member countries
Support the
creation of an
enabling
business
environment
Stimulate
competition &
entrepreneurship in member
countries
 Mobilize up to 70% projects’
investment needs from the market
9
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
10
ORGANIZATIONAL STRUCTURE
BUSINESS DEVELOPMENT & PARTNERSHIPS (BDPD)
ORIGINATION
SYNDICATION
◘ Deal sourcing and origination
◘ Partnerships development and follow-up
◘ Initial project screening and evaluation
◘ Syndications and fundraising
◘ Client relationship management
FINANCIAL INSTITUTIONS
DEVELOPMENT (FIDD)
INST. EQUITY
LINES OF FINANCE
DIRECT INVESTMENTS &
FINANCING (DFID)
EQUITY
TERM FINANCE
◘ Islamic banks
◘ Murabaha
◘ Plain equity
◘ Ijara
◘ Ijara companies
◘ Wakala
◘ Mezzanine
facility
◘ Murabaha
◘ Investment
companies
◘ Finance
companies
◘ Diminishing
Musharaka
◘ Istisna’a
ADVISORY & ASSET
MANAGEMENT (ASAM)
CONSULTING
ASSET MGMT
◘ Advising governments and public
and private enterprises
◘ Asset management
◘ Conventional-to-Islamic bank
conversions
◘ Takaful
11
ICD: DEVELOPING ISLAMIC BANKS
ICD extends its own reach by setting up, investing, financing and providing expert advice to other Islamic Banks
in its Member Countries.
FOCUS OF ISLAMIC BANKS
◘ The objective is to develop Islamic Financing Channels by promoting
and developing financial institutions.
◘ These institutions acts as financial channels for ICD and provide a
multiplier effect on the investment dollars.
Tamweel Africa
Holding
USD 30.6 M
Equity
Financial Sector
Pakistan
Islamic Bank
of Niger
USD 2.2 M
◘ The focus is to develop the market by establishing and investing in the
following type of institutions through control and non-control positions.
◘ ICD has invested in banks in Pakistan, West Africa (via investment in
a holding company), Yemen, Sudan, Maldives and Kazakhstan.
USD 40.8 M
Equity
Financial Sector
Senegal
USD 9.6 M
Equity
Financial Sector
Yemen
Islamic Bank
of Mauritania
Islamic Bank
of Guinea
USD 26.3 M
USD 2.6 M
Equity
Financial Sector
Equity
Financial Sector
Niger
Mauritania
Equity
Financial Sector
Guinea
USD 3.4 M
USD 10.8 M
Islamic Bank
of Senegal
USD 3.0 M
Equity
Financial Sector
Senegal
Equity
Equity
Financial Sector
Financial Sector
Sudan
Maldives
USD 3.4 M
Equity
Financial Sector
Kazakhstan
12
ICD: DEVELOPING OTHER ISLAMIC FIs
ICD also extends its own reach by setting up, investing, financing and providing expert advice to other Islamic
Financial Institutions in its Member Countries.
FOCUS ON ISLAMIC FINANCIAL INSTITUTIONS
◘ ICD also invests in other Islamic Financial Institutions in order to
promote the development of Islamic Finance as a viable alternative to
conventional finance
USD 4.9 M
Equity
◘ As with banks, investing in these financial institutions will have a
multiplier effect and increase the total assets in Islamic products in
member countries
◘ Currently, there is a lack of such Institutions in the Islamic countries
and Sharia compliant FIs are needed to finance private sector
◘ The objective is to go beyond basic banking and develop non-banking
FIs (e.g. Ijara, takaful) and continue to provide the market with access
to innovative Islamic products
USD 5.0 M
USD 6.2 M
Equity
Equity
Financial Sector
Financial Sector
Uzbekistan
Azerbaijan
Kazakhstan Ijara
Company
Arab Leasing &
Investment Company
Albania Leasing
USD 10.0 M
USD 6.0 M
USD 1.7 M
Equity
Financial Sector
Equity
Financial Sector
Kazakhstan
Sudan
Financial Sector
KSA
Equity
Financial Sector
Albania
Ijara Palestine
Company
USD 1.3 M
USD 1.0 M
USD 2.0 M
Equity
Equity
Equity
Financial Sector
Financial Sector
Financial Sector
KSA / Bahrain
Palestine
Tajikistan
13
ICD: PROVISION OF LINES OF FINANCE
ICD also extends its own reach by setting up, investing, financing and providing expert advice to other Islamic
Financial Institutions in its Member Countries.
LINES OF FINANCE
◘ ICD also provide Lines of Financing to
institutions in order to meet common
business and social objectives especially
the small and medium enterprise (SME)
sector
USD 20.0 M
USD 20.0 M
USD 20.0 M
USD 26.5 M
USD 21.3 M
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Turkey
Turkey
Turkey
Azerbaijan
Indonesia
USD 12.0 M
USD 11.5 M
USD 21.0 M
USD 16.0 M
USD 11.0 M
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Uzbekistan
Tajikistan
Uzbekistan
Uzbekistan
Uzbekistan
USD 11.0 M
USD 10.0 M
USD 5.0 M
USD 10.0 M
USD 10.0 M
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Uzbekistan
Azerbaijan
Yemen
Uzbekistan
Uzbekistan
Global Line of
Financing Nigeria
USD 8.0 M
USD 2.0 M
USD 3.0 M
USD 3.0 M
USD 80.0 M
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Financial Sector
Uzbekistan
Mauritania
Mauritania
Azerbaijan
Nigeria
ICD: DIRECT EQUITY INVESTMENT
Apart from investments in financial institutions, ICD supports the development of member countries by investing
in companies seeking capital expansion.
SECTORS
SCOPE OF SERVICES
◘ Selective Greenfield and Operating Companies
investments that have a strong equity story with a
potential of major development benefits
◘ Equity investment can be through capital
increases or buyouts
◘ Types of equity investments:
◘ Plain Equity
Other Sectors
USD 69.0 M
USD 25.5 M
Industrial &
Manufacturing
USD 4.0 M
Telecom &
Technology
USD 10.0 M
Real Estate
Healthcare
Equity
Industrial
Equity
Telecommunication
Saudi Arabia
Saudi Arabia
Bahrain
Indonesia
Equity
MMI
USD 25.0 M
USD 5.8 M
USD 10.0 M
Real Estate
Equity
Healthcare
Equity
Cement
Mauritania
Saudi Arabia
Sudan
Equity
◘ Quasi-equity
Healthcare &
Pharmaceutical
USD 12.5 M
Equity
Technology
Regional (UAE)
2005, 2010
◘ Hybrids (convertible)
◘ ICD added value through active participation in the
companies’ boards to support business
effectiveness and corporate governance
Santé Alexandra)
USD 45 M
Equity
Yemen
USD 10.7 M
USD 9.5 M
Equity
Pharmaceutical
Equity
Industrial Sector
Jordan
Egypt
15
ICD: PROVISION OF TERM FINANCING
ICD extends Term Finance to clients for capital investments aiming at expansion of existing enterprise,
establishment of a new enterprise and project implementation.
SECTORS
SCOPE OF SERVICES
◘ ICD provides term financing for Greenfield and
Brownfield projects in healthcare, infrastructure,
ICT and industrial sectors
◘ ICD can act as a lead arranger or participant in
such term financing projects
Other Sectors
Healthcare &
Pharmaceutical
Industrial &
Manufacturing
Energy /Oil & Gas
TAB Rig
Company
Horizon Fisheries Project
USD 20.0 M
USD 6.0 M
USD 25.0 M
Food & Fisheries
Maldives
Healthcare
Industrial & Manufacturing
Oil & Gas
Kuwait
Bangladesh
Libya
USD 25.0 M
USD 13.0 M
USD 25.0 M
Retail
Turkey
Healthcare
Industrial & Manufacturing
Pakistan
USD 43.0 M
◘ The average size of such financing is between
US$ 10 -20 million with a tenure of 4-8 years
◘ Minimum size of US$ 5 million
◘ Term finance can be provided through:
Saudi Arabia
USD 15.0 M
Power
Bangladesh
◘ Non-recourse borrowing (project finance)
◘ With-recourse borrowing
Royal Atlantic
Residence
USD 13.0 M
Real Estate
Gambia
Middle East
Healthcare
Company
USD 10.0 M
Healthcare
Saudi Arabia
USD 26.9 M
Industrial & Manufacturing
UAE
16
ICD: ADVISORY SERVICES
ICD has put together a team of highly experienced investment bankers to support Advisory transactions. Making
available of its full resources to ensure a successful outcome of any transaction it undertakes.
SCOPE OF SERVICES
◘ ICD provides a wide variety of advisory services to governments, public entities and private entities of member countries in
order to help create the right environment to facilitate private sector investment and also to assist companies in achieving
their potential
◘ Range of Services for Government
•
•
•
•
•
Privatization
Public Private Partnership (PPP) Project Finance Advisory
Government Sukuk Capital Raising
Development of Islamic Capital Markets
Development of Business Environment for SME
◘ Range of Services for Private Sector
•
•
•
•
Strategic Advisory / Restructuring Advisory
Access to Growth Capital
Project Finance Advisory
Development of Islamic Financial Institutions
17
ICD: ASSET MANAGEMENT
ICD establishes and develops specific Funds to support the growth of targeted sectors in its member countries.
SCOPE OF SERVICES
◘ ICD supplements its own balance sheet by sponsoring / creating
private equity funds as well as other special purpose vehicles in order
to provide the IDB Group and other investors with access to projects
that provide commercial returns as well as meet the developmental
needs of member countries
◘ ICD acts as a fund manager and/or general partner with other fund
managers to sponsor and create special purpose vehicles along with
third party investors including but not limited to IDB and ICD; other
Multilateral Agencies; Sovereign Wealth Funds; Government Funding
Vehicles and High Net Worth Individuals
UIF
(Unit Investment Fund)
USD 250 M
Investments in Member
Countries
Regional
Saudi
SME Fund
USD 107 M
Tunisian
SME Fund
USD 16 M
Private Equity
Private Equity
SMEs in KSA
SMEs in Tunisia
Money Market
Fund
ICD Food &
Agriculture Fund
USD 200 M
USD 600 M
Short Term Investments
Agribusiness Sector
Shariah liquidity management
tool for FIs and Corporates
Agri-related Investments
In Member Countries
18
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
19
RAPID RAMP-UP OF INVESTMENT PORTFOLIO SINCE INCEPTION
Total approved investments between 2000 and 2013 totaled USD 2.59 billion
Total Approvals (USD ‘ Million)
Approvals Per Sector
100%
3000
2,590
2500
2,170
1500
35
40%
1423H
1425H
351
1427H
Transportation
ITC
Agriculture
Trade
Finance
30%
0
1421H
Real Estate
50%
604
194 234
72 136
80%
Health & Soc. Services
804
500
Industry & Mining
60%
1,152
1000
90%
70%
1,798
1,560
2000
Financial
1429H
1431H
1433H
Energy
20%
Water & Waste Mgt
10%
Education
0%
Other
Total disbursements to date reached USD 1.022 billion
Sources: ICD Annual Report
20
HEALTHY DIVERSIFICATION ACROSS REGIONS, SECTORS AND
MODES OF FINANCING TO DATE
Summary of Activities – to date
Investment Approvals by Type – to date
◘ Since inception, ICD approved 243 investments for a
total capital commitment of USD 2.59 billion.
◘ Equity, Murabaha, and Ijara transactions constituted the
bulk of ICD’s investment allocations.
◘ MENA region dominated ICD’s portfolio allocation in the
early years, but focus on other regions is growing
significantly.
◘ In addition to capital injections, ICD investment
transactions involved significant levels of institutional
support and knowledge transfer.
Investment Disbursement by Type – to date
50%
35%
30%
25%
20%
15%
10%
5%
0%
33%
28%
9%
Istisna
12%
14%
Ijarah
Asia & the Pacific
16%
27%
Europe & Central Asia
Regional
20%
10%
Equity
Investment Breakdown by Region – to date
40%
24%
5%
Murabaha Inst. Sale
40%
30%
25%
47%
8%
11%
MENA
Subsaharan Africa
1%
0%
Murabaha Inst. Sale
Istisna
Equity
Ijarah
Sources: ICD Annual Report
21
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
22
INVESTMENT CRITERIA
GENERAL
REQUIREMENTS
◘ ICD’s investment operation is
generally sector-agnostic and
open to opportunities in various
stages of maturity and various
financing requirements and
needs.
◘ All in all, opportunities must meet
the following minimum
requirements:
 Majority private sector
ownership
 Based in member-country






Shariah compliance
Compelling opportunity
Financial feasibility
Competent/credible
sponsors and management
Acceptable legal structure
Clear/compelling
developmental impact
TERM / PROJECT
FINANCING
EQUITY INVESTMENTS
◘ Maximum participation of 33% of
investee’s capital
◘ Clear exit strategy within 3 to 5
years of investment (extendable
to 7 years in exceptional cases)
◘ For green-field projects, up to
40% of project investment costs;
for expansion of existing
projects, up to 60% of project
investment costs
◘ Tenure of up to 8 years including
grace period
◘ Minimum size of USD 5 million
◘ Acceptable security and
guarantees include:





Mortgages / Pledges
Assignment of receivables
Corporate guarantee from
parent companies
Personal guarantee
Bank guarantee
23
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
24
INVESTMENT PROCESS SUMMARY
KEY EXECUTION PHASES
1
ORIGINATION &
PRELIMINARY
ASSESSMENT
Projects are
sourced either
directly through
ICD’s BDPD
team or directly
submitted by
clients.
Initial
assessment is
conducted by
BDPD and is
done to ensure
with ICD’s
mandate and
investment
criteria.
2
PROJECT
APPRAISAL
After initial
clearance by
BDPD, the
relevant
execution
department, and
ICD Investment
Committee, ICD
conducts a
project appraisal
that produces a
Due Diligence
Report and an
Indicative Term
Sheet.
~ 6-8 Weeks
3
INVESTMENT
COMMITTEE
APPROVAL
The final Due
Diligence Report
and the indicative
term sheet are
presented to the
ICD’s Investment
Committee for
clearance and
approval.
4
EXECUTIVE
COMMITTEE
APPROVAL
The final
financing
conditions and
the final project
information
memo are
presented to the
Executive
Committee for
final approval on
behalf of the
Board of
Directors.
~ 8 – 24 Weeks
5
EFFECTIVENESS &
DISBURSEMENT
Effectiveness of
the project is
declared after
satisfactory
compliance of all
legal
requirements are
met.
Disbursement
occurs upon
declaring the
effectiveness.
6
MONITORING &
EVALUATION
The follow up
team of ICD
closely monitors
the
implementation
stages.
The follow up
team tracks the
financial
performance and
developmental
results of the
projects.
7
PROJECT
CLOSING
ICD closes the
books on the
project when the
investment is
repaid in full or
when the
corporation exits
by selling its
equity stakes.
~ 3 – 5 Years
25
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
26
EXTENSIVE PARTNERSHIP NETWORK OF LEADING MDBs AND DFIs
27
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
28
EXPERIENCED & DISTINGUISHED LEADERSHIP
Mr. Khaled Mohamed Al-Aboodi
CHIEF EXECUTIVE OFFICER & GENERAL MANAGER
20 YEARS OF EXPERIENCE IN THE INTERNATIONAL
DEVELOPMENT FINANCE INDUSTRY
Mr. Al-Aboodi started his professional career with the Ministry of Finance &
National Economy of Saudi Arabia in 1982 as an Economic Researcher, then as a
Director of the Environment Unit, and later as an Acting Director of the
International Financial Institutions Department. In 1995 he moved to Washington
DC where he served as Assistant to the Saudi Executive Director at the World
Bank. He was later appointed Alternate Executive Director for Saudi Arabia at the
World Bank Board until 2000. In 2000, he joined the Saudi Public Investment
Fund (at the Ministry of Finance) as a Senior Economist where he was in charge
of several privatization operations. Mr. Khaled Al-Aboodi holds a Bachelor’s
Degree in Economics from King Saud University, Riyadh (1982), and a Master’s
Degree in Economics from Northeastern University, Boston, USA (1987).
“ ICD realizes that the
role of forward-looking
and well-supported
private sector in
achieving an inclusive
development has never
been more fundamental ”
29
TABLE OF CONTENTS
ABOUT ICD
ICD STRATEGY AND GOALS
FUNCTIONAL FLOW & BREAKDOWN
CURRENT PORTFOLIO
INVESTMENT CRITERIA
INVESTMENT PROCESS FLOW
PARTNERSHIPS
SENIOR MANAGEMENT
SUCCESS STORIES
30
CASE 1: LEVERAGE THROUGH SYNDICATION
 ICD acted as Lead Arranger in
raising debt for the construction of
a steel plant in Mukalla, Yemen;
 The total project cost was of
USD172m and ICD syndication
amount of USD48m;
 ICD was able to mobilize two other
development agencies to
participate:
Project
Sponsors
USD124m Equity
contributions
Yemen
USD48m
syndicated loan
divided between
the three
participants
• OPEC Fund for International
Development;
• Arab Fund for Economic and
Social Development
Creation of 700 jobs and an increase in the supply of steel in Yemen
31
CASE 2: PROMOTING INFRASTRUCTURE DEVELOPMENT
 ICD and AfDB have provided
financing of US$10m for the
construction of a bulk terminal in
Djibouti;
 The marine terminal had a capacity
of processing 1 million tons per year
of farm inputs and grain. It covers an
area of ​42,000 m2 at the Port
Autonome International and is
managed by the SDTV;
Sponsor
Djibouti
US$20m Equity
contribution
US$10m
Syndicated loan
(ICD US$4m &
AfDB US$6m)
 The terminal allows the processing of
inputs and grain to Ethiopia and the
sub-region
Lower cost of farm inputs & grain in Djibouti and Ethiopia
by reducing storage costs
32
CASE 3: ISLAMIC BANKS IN FRONTIER MARKETS
 ICD in partnership with Bank
Asya Tamweel Africa has
created a holding company
that invests in and manages
a portfolio of Islamic banks.
 It has also developed the
necessary synergies to
increase the network of
Islamic banks in Africa
60%
50.5%
68.8%
40%
50.0%
100.0%
 ICD has invested USD 33m
(60% stake in Tamweel
Africa) in four banks:
Senegal, Niger, Mauritania
and Guinea
Fostering and Developing Shariah Compliant Banks in West Africa
33
CASE 4: PROMOTE THE DEVELOPMENT OF SMES
1
ICD provides credit lines to financial institutions.
2
Financial institutions grant medium-term
financing for the development of SMEs or for
their working capital.
3
SMEs repay the medium-term financing and then
financial institutions repay ICD
4
Other investors may participate in the operation,
by appointing ICD as an agent
INVESTORS
4
1
 This program allows:
3
2
SME
3
2
SME
22
3
• Increased funding for SMEs in Asia
• Funding for several SMEs in member
countries
SME
• Funding of more than 5,000 motorcycles
funded PT Mandala Multifinance Indonesia
Fostering and enhancing Private Sector in Member Countries
34
BDPD TEAM
Business Development & Partnerships Department (BDPD)
Farid Mohamed Masmoudi
Director - Global Head BDPD
Business Development Coverage
Syndications & Partnerships
MENA
Africa
Asia
CIS Europe
Syndications
Chachir Ben
Halima
Senior Associate
(MENA Coverage)
Mamadou Barro
Manager
(Africa Coverage)
Ahmed Bin Abdul
Khalid
Head of Asia
(Asia Coverage)
Samir Nadir
Taghiyev
Principal
(CIS Europe
Coverage)
Ariff Hasan
Principal
(Syndications)
Cyndo Obre
Senior Associate
(MENA Coverage
Momar Gueye
Associate
(Africa Coverage)
NoorAzmi Mohd
Razalli
Associate
(Asia Coverage)
Jamshid Akhmedov
Associate
(Uzbekistan
Coverage)
Arabic Speaker
French Speaker
English Speaker
Bahasa Speaker
Russian Speaker
35
BDPD CONTACT INFO
Farid Masmoudi
Director – Global Head
Tel : +966 12 646 8113
E-mail: fmasmoudi@isdb.org
Business Development Coverage
Chahir Ben Halima
Senior Associate – MENA
Tel : +966 12 646 8133
E-mail: cbenhalima@isdb.org
Mamadou Barro
Manager – Africa
Tel : +221 33 889 11 44
E-mail: mbarro@isdb.org
Ahmed Bin Abdul Khalid
Head – Asia
Tel : +603 2694 6627
E-mail: aabdulkhalid@isdb.org
Samir Nadir Taghiyev
Senior Associate - CIS
Tel : +7727 250 5837
E-mail: staghiyev@isdb.org
Cyndo Obre
Associate – MENA Coverage
Tel : +966 12 646 8224
E-mail: cobre@isdb.org
Momar Gueye
Associate - Africa Coverage
Tel : +221 33 889 11 44
E-mail: momarg@isdb.org
NoorAzmi Mohd Razalli
Associate – Asia
Tel : +603 2692 6630
E-mail: nrazalli@isdb.org
Jamshid Akhmedov
Associate - Uzbekistan
Tel : +998 71 238 9363
E-mail: jakhmedov@isdb.com
Syndications & Partnerships
Ariff Hasan
Principal, Syndications &
Partnerships
Tel : +966 2 646 8138
E-mail: ahasan@isdb.org
36
Enabling Enterprise - Building Prosperity
37