Mr. Khaled Al-Aboodi joined the Islamic Development Bank (IDB) Group in November 2001 as Deputy Director General of the Islamic Corporation for the Development of the Private Sector (ICD), the Private Sector arm of IDB & since 2007 till now as Chief Executive Officer of (ICD). Mr. Al-Aboodi has over 20 years of experience serving the developing Finance industry in the Middle East and USA. He started his tenure with Ministry of Finance & National Economy of Saudi Arabia in 1982 as an Economic Researcher, served as Director of the Environment Unit, Acting Director of the International Financial Institutions Department. In 1995 he moved to Washington DC to serve as Assistant to the Saudi Executive Director at the World Bank; and was later appointed Alternate Executive Director for Saudi Arabia at the World Bank Board until 2000. Later in 2000, he joined the Saudi Public Investment Fund (Ministry of Finance) as Senior Economist where he was in charge of several privatization operations. Mr. Khaled Al-Aboodi is a Saudi National, and holds a Bachelors Degree in Economics from King Saud University, Riyadh (1982), and a Master Degree in Economics from the Northeastern University, Boston, USA (1987).

Company Profile

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral financial institution. It was established by the IDB Board of Governors in its 24th annual meeting held in Rajab 1420H (November 1999) in Jeddah, Kingdom of Saudi Arabia. The authorized capital stock of the Corporation is one billion USD while the capital available for subscription is five hundred million USD. Its shareholders are the IDB, 45 Islamic member countries, and 5 public financial institutions from member countries. The mandate of ICD is to play a complementary role to the IBD activities and national financing institutions in member countries through the provision of financing and financial services to private sector projects in accordance with principles of the Shari'a. ICD also provides consultancy services to governments and private sector institutions in order to encourage the establishment, the expansion and the modernization of private sector enterprises, the development of capital markets, the adoption of best management practices and enhancement of the role of market economy. ICD focused in its financing on developmental projects which contribute to the creation of employment opportunities and the encouragement of exports. To achieve these objectives, ICD creates and develops relations of cooperation and partnership to arrange co-financing and syndicated financing services.