ICD cements plans to launch mortgage finance company

Earlier this week, the Islamic Corporation for the Development of the Private Sector (ICD) was host to a meeting on a high level discussing the launch of a new national home finance company with committed shareholders. The brand name of the company will be Bidaya. In particular, the status of the new company's development and plans concerning the next steps towards the launch were discussed. According to Khaled Al-Aboodi - CEO of ICD - the Mortgage Law together with the recent release of draft regulations give the industry clarity and direction which was very necessary.