ICD and Indonesia Eximbank strengthen partnership to boost shariah-compliant financing and private sector growth

 Save as PDF

JAKARTA, Indonesia — The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, and Indonesia Eximbank have signed a Letter of Intent (LOI) to explore a USD 30 million Line of Finance (LoF) facility aimed at advancing Shariah-compliant investment and expanding private sector access to financing in Indonesia.

AfricaHeadline Reports Team
editorial@africaheadline.com 

The proposed facility will be channeled through Indonesia Eximbank to finance eligible private enterprises with high development impact, particularly Small and Medium Enterprises (SMEs) and export-oriented halal industries, which are considered vital for inclusive growth and national development.

According to Mohammad Asheque Moyeed, Acting Director of the Banking Department at ICD, the facility represents “a landmark Shariah-compliant transaction designed to increase access to capital and create new opportunities for private sector expansion in Indonesia.”

Anwar Harsono, Managing Director for Finance, Operations and Information Technology at Indonesia Eximbank, emphasized that the collaboration “underscores our shared commitment to strengthening Indonesia’s export capacity and expanding SME access to Islamic financing, while promoting the country’s halal industries in global markets.”

The initiative aligns with ICD’s broader strategy to expand its footprint across ASEAN member countries and enhance South–South cooperation by facilitating sustainable and ethical investment flows between emerging economies.

With operations across 56 member countries, ICD continues to play a pivotal role in promoting inclusive private sector growth, Islamic finance innovation, and cross-border investment partnerships that support resilient and diversified economic development across the Global South.