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FINANCIAL NEWS
Gulf investors to invest in Moroccan private sector
06 Mar 2014
(MENAFN) A partnership between Saudi Islamic Corporation for the Development of the Private Sector (ICD) and Morocco-based Al Ajial Funds has been signed to invest jointly in Morocco’s private sector, Arabian Business reported.
ICD chief executive said: Joining our forces to accompany the development of Morocco’s private sector is an important milestone for ICD’s investment strategy in the kingdom.”
The ICD supports its 51 member countries by financing private sector projects which follow Islamic principles.
The ICD provides financing for various projects, but also made direct investments to establish Islamic financial institutions including banks and takaful insurers on the African continent.
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