ICD, TAIB sign MOU on Islamic finance

18/09/2014 11:17 AST

BANDAR SERI BEGAWAN – The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IDB) Group, and Perbadanan Tabung Amanah Islam Brunei (Perbadanan TAIB), signed a memorandum of understanding to explore the launch of a Shariah- compliant leasing/Ijarah business in Brunei Darussalam.

Presiding over the signing ceremony were Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Seri Setia Awang Hj Abdul Rahman Bin Hj Ibrahim, Minister of Finance II at the Prime Minister’s Office of Brunei Darussalam, Yang DiMuliakan Pehin Datu Lailaraja Major General (Rtd.) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd Yussof, Deputy Minister of the Ministry of Home Affairs of Brunei Darussalam cum Chairman of Perbadanan TAIB and Dr. Ahmad Mohamed Ali, President, IDB Group. Ahmed A Khalid, ICD’s Regional Head (Asia), signed on behalf of his CEO Khaled Al-Aboodi. Representing TAIB was Yang Mulia Dayang Rokiah binti Haji Badar in her capacity as acting Managing Director of Perbadanan TAIB. The ceremony took place at the Empire Hotel and Country Club, Brunei Darussalam in conjunction with the IDB Group Day. Also present were senior government officials, invited guests of IDB Group and those from Brunei Darussalam’s banking industry.

The Partnership plans a number of other COLLABORATIONS with the support of the Ijarah Management Company (IMC). Established in November 2011, IMC has successfully managed to set up and operate more than eight leasing companies globally including CIS, MENA and West Africa countries. — SG

Saudi Gazette