Elvin Afandi, currently working as the Manager of Division of Corporate Strategy and Research at the Islamic Corporation for the Development of the Private Sector (ICD), has had an extensive career in economic policy, research, and corporate strategy. With a background in various roles such as Principal Economist, Senior Economist, and Chairman of Investment Committee, Elvin has a strong academic foundation with degrees in Economics from Azerbaijan State University, Michigan State University, and Baku State University. Elvin has also worked as a consultant for The World Bank and as an Adjunct Professor at Khazar University, showcasing a diverse range of experience in the field of economics.
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Islamic Corporation for the Development of the Private Sector (ICD)
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank (IsDB). Its authorized capital stands at USD 4 billion, of which USD 2 billion is available for subscription. Its shareholders consist of the IsDB, 55 member countries and five public financial institutions. Headquartered in Jeddah, ICD was established by the IsDB Board of Governors during its 24th annual meeting held in Jeddah in Rajab 1420H (November 1999). The mandate of ICD is to support the economic development of its member countries by providing financial assistance to private sector projects in accordance with the principles of Shari’ah, aimed at creating employment opportunities and enhancing their export potential. Furthermore, ICD has the mandate of mobilizing additional resources for projects and encouraging the development of Islamic finance. It also attracts co-financiers for its projects and provides advice to governments and private sector groups on policies aimed at encouraging the establishment, expansion and modernization of private enterprises, the development of capital markets, best management practices, and the enhancement of the role of market economy. ICD’s operations complement the activities of IsDB in member countries and also those of national financial institutions. #ICD_PS #ICD #IslamicFinance