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Islamic Corporation for the Development of the Private Sector (ICD)

Islamic Corporation for the Development of the Private Sector (ICD). Member of the Islamic Development Bank Group (IDB). O ctober, 2014. IsDB Group - 2014. TABLE OF CONTENTS. ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA

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Islamic Corporation for the Development of the Private Sector (ICD)

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  1. Islamic Corporation for the Development of the Private Sector (ICD) Member of the Islamic Development Bank Group (IDB) October, 2014 IsDB Group - 2014

  2. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  3. ICD’S MISSION IS TO PROMOTE PRIVATE SECTOR DEVELOPMENT IN MEMBER COUNTRIES • ICD is a multilateral financial institution with an authorized capital of USD 2.0 billion. ICD shareholders consist of the IDB, 52 member countries, and five public financial institutions. • Headquarters in Jeddah, ICD was established in 1999 by the IDB Board of Governors with a mandate to promote growth and development in member countries through the provision of Sharia compliant financing to feasible and viable private sector projects. • ICD operates to complement the activities of IDB in member countries and also that of national financial institutions. The mandate of ICD is to support economic development of member countries by providing financial assistance to private sector projects in accordance with the principles of Islamic Sharia Vision To become a leading multilateral Islamic financial institution dedicated to the development of the private sector in member countries ICD also strives to encourage the development and promotion of Islamic financial markets and capabilities in member countries ICD targets private sector projects that are financially and economically viable and have a significant developmental impact through job creation and export potential enhancement. ICD also encourages and facilitates the channeling of foreign investment into member states, and provides advice to governments and private enterprises when needed

  4. A SIZEABLE GLOBAL FOOTPRINT C. ASIA & EUROPE WEST & EAST AFRICA Benin Burkina Faso Cameroun Chad Comoros Isles Cote d’Ivoire Djibouti Gabon Gambia Guinea Guinea Bissau Mali Mozambique Niger Nigeria Senegal Sierra Leone Sudan Uganda Albania Azerbaijan Kazakhstan Kirgizstan Tajikistan Turkey Turkmenistan Uzbekistan EAST ASIA Bangladesh Brunei Indonesia Malaysia Maldives Pakistan South America MENA REGION Suriname Tunisia U.A.E Yemen Algeria Bahrain Egypt Iran Iraq Jordan Kuwait Lebanon Libya Mauritania Morocco Palestine Qatar Saudi Arabia Syria 52 member countries, representing 1.5 billion people

  5. ICD SCOPE OF OPERATIONS WHAT WE DO Investing in and financing private sector projects, in addition to providing advisory services to public and private sector actors in member countries Business lines: Business Development & Partnerships Financial Institutions Development Direct Investments & Financing Advisory & Asset Management OUR REACH 4offices covering MENA, Africa, Asia and CIS Over 100 international investment and financial professionals Extensive network of partner MDBs and financial institutions OUR PORTFOLIO USD2.6 BN in approved investments between 2000 and 2013 Over 260 investments and financial transactions in 40 countries since inception

  6. ICD COVERAGE TEAMS ON THE GROUND IN 4 CONTINENTS Regional Office in Almaty • Samir Nadir Taghiyev(Europe & CIS Coverage) • JamshidAkhmedov(Uzbekistan Coverage) Regional Office in Kuala Lumpur Regional Office in Dakar • Ahmed Bin Abdul Khalid (Head Asia Coverage) • NoorAzmiMohdRazalli(Asia Coverage) • MamadouBarro(Regional Manager for Africa Coverage) • Momar Gueye(Africa Coverage) Products Teams Head Office in Jeddah Coverage Team • Farid Masmoudi(Director) • Ariff Shafzan Bin Hasan (Partnership & Syndications) • Chahir Ben Halima (MENA Coverage) • CyndoObre(MENA Coverage) • AtiqNakrawala (Associate Coverage) • Ali Camlioglu(Associate Coverage) • Over 100 Investment Professionals and Bankers covering: • FIDD • DIFD • ASAM

  7. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  8. COMPREHENSIVE STRATEGY & PROGRAM ICD’s strategic objective is to promote private sector development in member countries by building and promoting Islamic financing capabilities and facilitating enterprise access to this financing Strategic Operational Framework Building an Enabling Business Environment Building Islamic Finance Channels Selective Direct Investments Building Partnerships • By establishing and investing in the following types of institutions: • Islamic Banks • IjaraCompanies • Takaful Companies • Mortgage Companies • Investment Companies • By providing growth capital to enterprises: • Equity Financing: • Musharaka (Equity) • Quasi Equity • Term Financing: • Installment Sale • Leasing • Profit Sharing • Deferred Delivery • Istisna’a • Murabaha • Purchase and Lease Back • Diminishing Musharaka • By providing advisory services to governmentsand private sector actors with a focus on: • Restructurings • Islamic Finance • Special Economic Zones • Raising and managing PE funds • Privatization • SME Advisory • By building a substantial network of MDBs and private sector financial institutions and leveraging this network to develop business opportunities and to mobilize and channel to member countries.

  9. AMBITIOUS AND PROGRAMATIC OBJECTIVES Objectives 1440 H / 2020 G • Generate 1 million new job opportunities in member countries • Facilitate access to finance for 1 million low income individuals in member countries • Build and develop 50 Islamic financial institutions • Improve overall business environment in 10 member countries • Mobilize up to 70% projects’ investment needs from the market Encourage cross-border investments Promote private-sector development in member countries Strategy 1440 H / 2020 G Stimulate economic and social progress in member countries Provide and promote Islamic finance services and products Support the creation of an enabling business environment Stimulate competition & entrepreneurs- hip in member countries

  10. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  11. ORGANIZATIONAL STRUCTURE BUSINESS DEVELOPMENT & PARTNERSHIPS (BDPD) ADVISORY & ASSET MANAGEMENT(ASAM) ORIGINATION SYNDICATION TERM FINANCE EQUITY INST. EQUITY CONSULTING ASSET MGMT LINES OF FINANCE • Deal sourcing and origination • Initial project screening and evaluation • Client relationship management • Advising governments and public and private enterprises • Asset management • Conventional-to-Islamic bank conversions • Partnerships development and follow-up • Syndications and fundraising DIRECT INVESTMENTS & FINANCING(DFID) FINANCIAL INSTITUTIONS DEVELOPMENT (FIDD) • Islamic banks • Ijara companies • Investment companies • Finance companies • Takaful • Murabaha • Wakala • Plain equity • Mezzanine facility • Ijara • Murabaha • Diminishing Musharaka • Istisna’a

  12. ICD: DEVELOPING ISLAMIC BANKS ICD extends its own reach by setting up, investing, financing and providing expert advice to other Islamic Banks in its Member Countries. Tamweel Africa Holding FOCUS OF ISLAMIC BANKS USD 9.6 M USD 30.6 M USD 40.8 M Equity Equity Equity • The objective is to develop Islamic Financing Channels by promoting and developing financial institutions. • These institutions acts as financial channels for ICD and provide a multiplier effect on the investment dollars. • The focus is to develop the market by establishing and investing in the following type of institutions through control and non-control positions. • ICD has invested in banks in Pakistan, West Africa (via investment in a holding company), Yemen, Sudan, Maldives and Kazakhstan. Financial Sector Financial Sector Financial Sector Yemen Pakistan Senegal Islamic Bank of Mauritania Islamic Bank of Guinea Islamic Bank of Niger USD 2.2 M USD 26.3 M USD 2.6 M Equity Equity Equity Financial Sector Financial Sector Financial Sector Guinea Mauritania Niger Islamic Bank of Senegal USD 3.0 M USD 3.4 M USD 10.8 M Equity Equity Equity Financial Sector Financial Sector Financial Sector Maldives Sudan Senegal USD 3.4 M Equity Financial Sector Kazakhstan

  13. ICD: DEVELOPING OTHER ISLAMIC FIs ICD also extends its own reach by setting up, investing, financing and providing expert advice to other Islamic Financial Institutions in its Member Countries. Arab Leasing & Investment Company FOCUS ON ISLAMIC FINANCIAL INSTITUTIONS • ICD also invests in other Islamic Financial Institutions in order to promote the development of Islamic Finance as a viable alternative to conventional finance • As with banks, investing in these financial institutions will have a multiplier effect and increase the total assets in Islamic products in member countries • Currently, there is a lack of such Institutions in the Islamic countries and Sharia compliant FIs are needed to finance private sector • The objective is to go beyond basic banking and develop non-banking FIs (e.g. Ijara, takaful) and continue to provide the market with access to innovative Islamic products USD 5.0 M USD 6.0 M Equity Equity Financial Sector Financial Sector Uzbekistan Sudan Financial Sector USD 4.9 M Kazakhstan Ijara Company Equity KSA USD 10.0 M Equity Financial Sector Kazakhstan Albania Leasing Ijara Palestine Company USD 1.7 M USD 6.2 M Equity Equity Financial Sector Financial Sector USD 1.3 M USD 1.0 M USD 2.0 M Albania Azerbaijan Equity Equity Equity Financial Sector Financial Sector Financial Sector KSA / Bahrain Palestine Tajikistan

  14. ICD: PROVISION OF LINES OF FINANCE ICD also extends its own reach by setting up, investing, financing and providing expert advice to other Islamic Financial Institutions in its Member Countries. LINES OF FINANCE • ICD also provide Lines of Financing to institutions in order to meet common business and social objectives especially the small and medium enterprise (SME) sector USD 20.0 M USD 20.0 M USD 11.0 M USD 26.5 M USD 21.3 M USD 12.0 M USD 20.0 M USD 21.0 M USD 16.0 M USD 11.0 M USD 10.0 M USD 10.0 M USD 80.0 M USD 11.5 M USD 10.0 M USD 2.0 M USD 3.0 M USD 3.0 M USD 8.0 M USD 5.0 M Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Financial Sector Uzbekistan Uzbekistan Uzbekistan Uzbekistan Uzbekistan Uzbekistan Uzbekistan Uzbekistan Azerbaijan Azerbaijan Azerbaijan Mauritania Mauritania Indonesia Tajikistan Yemen Nigeria Turkey Turkey Turkey Global Line of Financing Nigeria

  15. ICD: DIRECT EQUITY INVESTMENT • Apart from investments in financial institutions, ICD supports the development of member countries by investing in companies seeking capital expansion. SECTORS SCOPE OF SERVICES Healthcare & Pharmaceutical Industrial & Manufacturing Telecom & Technology Other Sectors • Selective Greenfield and Operating Companies investments that have a strong equity story with a potential of major development benefits • Equity investment can be through capital increases or buyouts • Types of equity investments: • Plain Equity • Quasi-equity • Hybrids (convertible) • ICD added value through active participation in the companies’ boards to support business effectiveness and corporate governance USD 69.0 M USD 5.8 M USD 10.0 M USD 4.0 M USD 10.0 M USD 25.5 M Equity Equity Equity Equity Equity Healthcare Healthcare Cement Telecommunication Real Estate Industrial Saudi Arabia Saudi Arabia Saudi Arabia Sudan Bahrain Indonesia 2005, 2010 MMI USD 25.0 M Equity Real Estate Mauritania Santé Alexandra) USD 45 M USD 10.7 M USD 9.5 M Equity Equity Equity Industrial Sector Pharmaceutical Yemen Jordan Egypt USD 12.5 M Equity Technology Regional (UAE)

  16. ICD: PROVISION OF TERM FINANCING • ICD extends Term Finance to clients for capital investments aiming at expansion of existing enterprise, establishment of a new enterprise and project implementation. SECTORS SCOPE OF SERVICES • ICD provides term financing for Greenfield and Brownfield projects in healthcare, infrastructure, ICT and industrial sectors • ICD can act as a lead arranger or participant in such term financing projects • The average size of such financing is between US$ 10 -20 million with a tenure of 4-8 years • Minimum size of US$ 5 million • Term finance can be provided through: • Non-recourse borrowing (project finance) • With-recourse borrowing Healthcare & Pharmaceutical Industrial & Manufacturing Other Sectors Energy /Oil & Gas TAB Rig Company USD 43.0 M USD 15.0 M USD 6.0 M Oil & Gas Power Healthcare Bangladesh Libya Kuwait USD 13.0 M USD 25.0 M Healthcare Industrial & Manufacturing Saudi Arabia Bangladesh Middle East Healthcare Company Horizon Fisheries Project USD 20.0 M USD 25.0 M USD 10.0 M USD 25.0 M Food & Fisheries Retail Healthcare Industrial & Manufacturing Maldives Turkey Saudi Arabia Pakistan Royal Atlantic Residence USD 13.0 M USD 26.9 M Real Estate Industrial & Manufacturing Gambia UAE

  17. ICD: ADVISORY SERVICES • ICD has put together a team of highly experienced investment bankers to support Advisory transactions. Making available of its full resources to ensure a successful outcome of any transaction it undertakes. SCOPE OF SERVICES • ICD provides a wide variety of advisory services to governments, public entities and private entities of member countries in order to help create the right environment to facilitate private sector investment and also to assist companies in achieving their potential • Range of Services for Government • Privatization • Public Private Partnership (PPP) Project Finance Advisory • Government Sukuk Capital Raising • Development of Islamic Capital Markets • Development of Business Environment for SME • Range of Services for Private Sector • Strategic Advisory / Restructuring Advisory • Access to Growth Capital • Project Finance Advisory • Development of Islamic Financial Institutions

  18. ICD: ASSET MANAGEMENT • ICD establishes and develops specific Funds to support the growth of targeted sectors in its member countries. SCOPE OF SERVICES ICD Food & Agriculture Fund Money Market Fund UIF (Unit Investment Fund) Tunisian SMEFund Saudi SME Fund • ICD supplements its own balance sheet by sponsoring / creating private equity funds as well as other special purpose vehicles in order to provide the IDB Group and other investors with access to projects that provide commercial returns as well as meet the developmental needs of member countries • ICD acts as a fund manager and/or general partner with other fund managers to sponsor and create special purpose vehicles along with third party investors including but not limited to IDB and ICD; other Multilateral Agencies; Sovereign Wealth Funds; Government Funding Vehicles and High Net Worth Individuals USD 250 M USD 200 M USD 600 M USD 107 M USD 16 M Investments in Member Countries Short Term Investments Agribusiness Sector Private Equity SMEs in KSA Regional Shariah liquidity management tool for FIs and Corporates Agri-related Investments In Member Countries Private Equity SMEs in Tunisia

  19. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  20. RAPID RAMP-UP OF INVESTMENT PORTFOLIO SINCE INCEPTION Total approved investments between 2000 and 2013 totaled USD 2.59 billion • Total Approvals (USD ‘ Million) • Approvals Per Sector ~40% CAGR Total disbursements to date reached USD 1.022 billion Sources: ICD Annual Report

  21. HEALTHY DIVERSIFICATION ACROSS REGIONS, SECTORS AND MODES OF FINANCING TO DATE Summary of Activities – to date Investment Approvals by Type – to date • Since inception, ICD approved 243 investments for a total capital commitment of USD 2.59 billion. • Equity, Murabaha, and Ijara transactions constituted the bulk of ICD’s investment allocations. • MENA region dominated ICD’s portfolio allocation in the early years, but focus on other regions is growing significantly. • In addition to capital injections, ICD investment transactions involved significant levels of institutional support and knowledge transfer. Investment Disbursement by Type – to date Investment Breakdown by Region – to date Sources: ICD Annual Report

  22. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  23. INVESTMENT CRITERIA GENERAL REQUIREMENTS EQUITY INVESTMENTS TERM / PROJECT FINANCING • ICD’s investment operation is generally sector-agnostic and open to opportunities in various stages of maturity and various financing requirements and needs. • All in all, opportunities must meet the following minimum requirements: • Majority private sector ownership • Based in member-country • Shariah compliance • Compelling opportunity • Financial feasibility • Competent/credible sponsors and management • Acceptable legal structure • Clear/compelling developmental impact • Maximum participation of 33% of investee’s capital • Clear exit strategy within 3 to 5 years of investment (extendable to 7 years in exceptional cases) • For green-field projects, up to 40% of project investment costs; for expansion of existing projects, up to 60% of project investment costs • Tenure of up to 8 years including grace period • Minimum size of USD 5 million • Acceptable security and guarantees include: • Mortgages / Pledges • Assignment of receivables • Corporate guarantee from parent companies • Personal guarantee • Bank guarantee

  24. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  25. INVESTMENT PROCESS SUMMARY KEY EXECUTION PHASES 4 5 1 2 3 6 7 ORIGINATION & PRELIMINARY ASSESSMENT PROJECT APPRAISAL INVESTMENT COMMITTEE APPROVAL EXECUTIVE COMMITTEE APPROVAL MONITORING & EVALUATION PROJECT CLOSING EFFECTIVENESS & DISBURSEMENT Projects are sourced either directly through ICD’s BDPD team or directly submitted by clients. Initial assessment is conducted by BDPD and is done to ensure with ICD’s mandate and investment criteria. After initial clearance by BDPD, the relevant execution department, and ICD Investment Committee, ICD conducts a project appraisal that produces a Due Diligence Report and an Indicative Term Sheet. The final Due Diligence Report and the indicative term sheet are presented to the ICD’s Investment Committee for clearance and approval. The final financing conditions and the final project information memo are presented to the Executive Committee for final approval on behalf of the Board of Directors. Effectiveness of the project is declared after satisfactory compliance of all legal requirements are met. Disbursement occurs upon declaring the effectiveness. The follow up team of ICD closely monitors the implementation stages. The follow up team tracks the financial performance and developmental results of the projects. ICD closes the books on the project when the investment is repaid in full or when the corporation exits by selling its equity stakes. ~ 3 – 5 Years ~ 6-8 Weeks ~ 8 – 24 Weeks

  26. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  27. EXTENSIVE PARTNERSHIP NETWORK OF LEADING MDBs AND DFIs

  28. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  29. EXPERIENCED & DISTINGUISHED LEADERSHIP Mr. Khaled Mohamed Al-Aboodi CHIEF EXECUTIVE OFFICER & GENERAL MANAGER 20 YEARS OF EXPERIENCE IN THE INTERNATIONAL DEVELOPMENT FINANCE INDUSTRY Mr. Al-Aboodi started his professional career with the Ministry of Finance & National Economy of Saudi Arabia in 1982 as an Economic Researcher, then as a Director of the Environment Unit, and later as an Acting Director of the International Financial Institutions Department. In 1995 he moved to Washington DC where he served as Assistant to the Saudi Executive Director at the World Bank. He was later appointed Alternate Executive Director for Saudi Arabia at the World Bank Board until 2000. In 2000, he joined the Saudi Public Investment Fund (at the Ministry of Finance) as a Senior Economist where he was in charge of several privatization operations. Mr. Khaled Al-Aboodi holds a Bachelor’s Degree in Economics from King Saud University, Riyadh (1982), and a Master’s Degree in Economics from Northeastern University, Boston, USA (1987). “ ICD realizes that the role of forward-looking and well-supported private sector in achieving an inclusive development has never been more fundamental ”

  30. TABLE OF CONTENTS ABOUT ICD ICD STRATEGY AND GOALS FUNCTIONAL FLOW & BREAKDOWN CURRENT PORTFOLIO INVESTMENT CRITERIA INVESTMENT PROCESS FLOW PARTNERSHIPS SENIOR MANAGEMENT SUCCESS STORIES

  31. CASE 1: LEVERAGE THROUGH SYNDICATION • ICD acted as Lead Arranger in raising debt for the construction of a steel plant in Mukalla, Yemen; • The total project cost was of USD172m and ICD syndication amount of USD48m; • ICD was able to mobilize two other development agencies to participate: • OPEC Fund for International Development; • Arab Fund for Economic and Social Development Project Sponsors Yemen USD124m Equitycontributions USD48m syndicated loan divided between the three participants Creation of 700 jobs and an increase in the supply of steel in Yemen

  32. CASE 2: PROMOTING INFRASTRUCTURE DEVELOPMENT • ICD and AfDB have provided financing of US$10m for the construction of a bulk terminal in Djibouti; • The marine terminal had a capacity of processing 1 million tons per year of farm inputs and grain. It covers an area of ​​42,000 m2 at the Port Autonome International and is managed by the SDTV; • The terminal allows the processing of inputs and grain to Ethiopia and the sub-region Sponsor Djibouti US$10m Syndicated loan (ICD US$4m & AfDB US$6m) US$20m Equity contribution Lower cost of farm inputs & grain in Djibouti and Ethiopia by reducing storage costs

  33. CASE 3: ISLAMIC BANKS IN FRONTIER MARKETS • ICD in partnership with Bank AsyaTamweel Africa has created a holding company that invests in and manages a portfolio of Islamic banks. • It has also developed the necessary synergies to increase the network of Islamic banks in Africa • ICD has invested USD 33m (60% stake in Tamweel Africa) in four banks: Senegal, Niger, Mauritania and Guinea 60% 40% 68.8% 50.0% 100.0% 50.5% Fostering and Developing Shariah Compliant Banks in West Africa

  34. CASE 4: PROMOTE THE DEVELOPMENT OF SMES 1 ICD provides credit lines to financial institutions. 2 Financial institutions grant medium-term financing for the development of SMEs or for their working capital. INVESTORS 3 SMEs repay the medium-term financing and then financial institutions repay ICD 4 4 Other investors may participate in the operation, by appointing ICD as an agent 1 • This program allows: • Increased funding for SMEs in Asia • Funding for several SMEs in member countries • Funding of more than 5,000 motorcycles funded PT Mandala MultifinanceIndonesia 2 2 2 2 3 3 3 SME SME SME Fostering and enhancing Private Sector in Member Countries

  35. BDPD TEAM Business Development & Partnerships Department (BDPD) Farid Mohamed Masmoudi Director - Global Head BDPD Business Development Coverage Syndications & Partnerships MENA Africa Asia CIS Europe Syndications Chachir Ben Halima Senior Associate (MENA Coverage) MamadouBarro Manager (Africa Coverage) Ahmed Bin Abdul Khalid Head of Asia (Asia Coverage) Samir Nadir Taghiyev Principal (CIS Europe Coverage) AriffHasan Principal (Syndications) CyndoObre Senior Associate (MENA Coverage Momar Gueye Associate (Africa Coverage) NoorAzmiMohdRazalli Associate (Asia Coverage) JamshidAkhmedov Associate (Uzbekistan Coverage) Arabic Speaker French Speaker English Speaker Bahasa Speaker Russian Speaker

  36. BDPD CONTACT INFO Farid Masmoudi Director – Global Head Tel : +966 12 646 8113 E-mail: fmasmoudi@isdb.org Business Development Coverage MamadouBarro Manager – Africa Tel : +221 33 889 11 44 E-mail: mbarro@isdb.org Ahmed Bin Abdul Khalid Head – Asia Tel : +603 2694 6627 E-mail: aabdulkhalid@isdb.org Samir Nadir Taghiyev Senior Associate - CIS Tel : +7727 250 5837 E-mail: staghiyev@isdb.org Chahir Ben Halima Senior Associate – MENA Tel : +966 12 646 8133 E-mail: cbenhalima@isdb.org CyndoObre Associate – MENA Coverage Tel : +966 12 646 8224 E-mail: cobre@isdb.org Momar Gueye Associate - Africa Coverage Tel : +221 33 889 11 44 E-mail: momarg@isdb.org NoorAzmiMohdRazalli Associate – Asia Tel : +603 2692 6630 E-mail: nrazalli@isdb.org JamshidAkhmedov Associate - Uzbekistan Tel : +998 71 238 9363 E-mail: jakhmedov@isdb.com Syndications & Partnerships Ariff Hasan Principal, Syndications & Partnerships Tel : +966 2 646 8138 E-mail: ahasan@isdb.org

  37. Enabling Enterprise - Building Prosperity

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