Khaled Al-Aboodi, CEO of ICD, left, and I Made Gde Erata, CEO of Indonesia Eximbank, sign a partnership agreement in Jakarta. Ahmad Mohamed Ali, president of the IDB Group, and senior officials of Indonesia Eximbank look on. (AN photo) (full story)
Published: May 12, 2011 00:09 Updated: May 12, 2011 16:56
JAKARTA: The Islamic Cooperation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), has signed a strategic partnership agreement (SPA) with Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank), to jointly explore investment opportunities in Indonesia and other IDB member countries.
The SPA was signed by Khaled Al-Aboodi, CEO of ICD and I Made Gde Erata, CEO of Indonesia Eximbank during the launch of the IDB Group Member Country Partnership Strategy in Jakarta on Wednesday.
Both parties agree to undertake joint strategic collaboration in the co-financing of selected Indonesia projects as well as syndication and other related areas that benefits the private sector as well as the country.
This will also pave the way for Indonesia private sector in expanding their business to new and emerging markets especially to OIC countries
Present at the signing ceremony were the senior representatives of both ICD and Indonesia Eximbank.
Indonesia Eximbank is a special financial institution established and owned by the Indonesian government and established by Act of Republic of Indonesia Number 2 Year 2009 concerning Lembaga Pembiayaan Ekspor Indonesia.
The scope of work of the Indonesia Eximbank in facilitating national export financing extends from financing, guarantee and insurance, as well as consultation services.
It also can provide national export financing under the frameworks of both conventional financing and Shariah-based financing.
This SPA strengthens the relationship between ICD and its key member country, Indonesia, said Al-Aboodi.
It also provides a good platform for both parties to initiate more investment activities within Indonesia, OIC member countries and beyond.
He said ICD is keen on cooperating in creating value in a significant way.
He said IDB Group and Indonesian businessmen could further capitalize on their respective comparative advantage, thereby strengthening the linkages between Indonesia and other OIC member countries.
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