Shahjalal Islami Bank strikes MoU with ICD

Shahjalal Islami Bank recently signed a memorandum of understanding (MoU) with the Islamic Corporation for the Development of the Private Sector (ICD), a member institution of the Islamic Development Bank (IsDB) Group.

Mosleh Uddin Ahmed, managing director of Shahjalal Islami Bank, and Muhammad Sulaiman Al Jasser, chairman of the IsDB Group, penned the MoU at the "IsDB Group Private Sector Forum-2024", held at the InterContinental Riyadh in the capital of Saudi Arabia.

Under this agreement, Shahjalal Islami Bank will receive $35 million assistance from the ICD in Shariah-based financing projects, according to a press release.

Among others, M Akhter Hossain, additional managing director and chief operating officer of Shahjalal Islami Bank, along with other officials from both organisations were also present.