ICD Board of Directors names new Acting CEO & General Manager
The Board of Directors of the Islamic Corporation for the Development of the Private Sector (ICD) named Mohammed Al Ammari as Acting CEO & General Manager, succeeding Khaled Al Aboodi, who has recently been appointed to lead the government-owned Saudi Agricultural and Livestock Investment Company (SALIC).
Al Ammari is assuming the position at the helm of ICD on an interim basis until the designation of a new CEO and General Manager.
“I am deeply honoured to have served as ICD CEO & General Manager working with talented and dedicated staff to fulfil ICD’s mission of becoming a premier Islamic multilateral institution serving the member countries. I believe there is a huge potential for growth in our member countries and many good things are coming ICD’s way, as the IsDB Group's strategy turns more to the development of the private sector as a catalyst for further sustainable development. With its 2nd general capital increase, strong financial profile and credit ratings and the experienced staff, the ICD is well positioned to play a key role in ensuring the success of IsDB Group’s private sector strategy,” said Al Aboodi in a farewell statement.
A member of the Islamic Development Bank (IsDB) Group, the ICD supports economic development and promotes the development of the private sector in its member countries through providing Shari'ah-compliant finance facilities and/or investments. It also provides advice to governments and private organisations to encourage the establishment, expansion and modernization of private enterprises. The ICD is rated AA/F1+ by Fitch, Aa3/P1 by Moody’s and A+ by S&P Ratings.