SME Finance Forum member The Islamic Corporation for the Development of the Private Sector (ICD) has entered into an agreement with BSIC Niger to finance SMEs in Niger.

Khaled Al-Aboodi CEO of ICD and Abakar Adoum, Managing Director of BSIC, signed the Line of financing agreement for the amount of 9 million euro under the Wakala structure or agency contract.

According to a release, the collaboration will focus on developing private sector especially SMEs, supporting economy, strengthening the balance sheet of the Bank, improving the living standard of the population by creating jobs, generating tax revenues for the government and promoting Islamic Banking in the country.