JEDDAH, 20 September 2007 — Khalid Al-Aboodi was appointed CEO and general manager of the Islamic Corporation for the Development of the Private Sector (ICD), succeeding Dr. Ali A. Soliman who retired at the end of his tenure.
Aboodi, was previously the deputy general manager of ICD — a member of the Islamic Development Bank (IDB) Group.
ICD said on Tuesday that the bank has “reached its age of reason with the support of the IDB and has successfully penetrated into the markets of 19 Islamic countries, proving its economic and financial viability.”
ICD posted $16.7 million profit in 2006, with shareholders’ equity of $352.5 million compared to $300 million paid-up capital in the preceding year, or 17.5 percent added value for the shareholders.
The bank has presence in 22 countries, creating jobs and contributing to production and exports through its involvement in some 100 projects amounting to more than $3 billion, $388.4 million of which had already been disbursed.
