FINANCE - ICD signs SPA with Indonesia Eximbank

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, a press statement announced. (full story)

TAKAFUL - Global Islamic insurance seen growing 31% in 2011

JEDDAH: Global Islamic insurance (Takaful) contributions are expected to reach $12 billion in 2011, an increase of 31 percent from $9.15 billion last year, Ernst & Young said in its "World Takaful Report 2011: Transforming Operating Performance" unveiled at the sixth Annual World Takaful Conference 2011 held in Dubai Saturday. (full story)