The Free Press Journal

Islamic Development Bank looks to increase exposure in India

His Excellency Khaled Mohamed Al-Aboodi, CEO of The Islamic Corporation for the Development of Private Sector (ICD) is in India to explore possibilities of expanding the Group activities and interests in India. H.E. Khaled Al-Aboodi’s will explore the possibilities of setting up Interest Free Banking in India, long term solution of accommodating Indian pilgrims, pilgrim education on rituals of Hajj and an initiative of Medical Mobile Units for use in Rural India on behalf of IDB Group. The ICD has decided to launch a US $ 1 billion fund for financing the construction and is in continuous discussion with the Consulate General of India in Jeddah who has been provided with a draft MOU for co-operation.

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