The Islamic Corporation for Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank, pledged $50 million funds for the development of small and medium-sized enterprises (SMEs) during a dialogue session with Indonesian private sector in Indonesia recently. Khaled Al-Aboodi, CEO and general manager of ICD, attended the dialogue and shared ICD's commitment to further develop partnership with the SMEs sector in the country, according to a press statement published today. “Islamic economic principles have been receiving a positive response from private sectors under current financial circumstances, especially those from non-Islamic countries such as Russia, France and the US. As for Indonesia, the percentage of Islamic banking assets is still small as compared to other markets such as Malaysia and the Middle East,” Al-Aboodi said.
