NEOM News

The latest news and information about NEOM, The Line and related projects

ICD Aims To Finance Saudi NEOM, Red Sea Project

Ayman Sejiny, CEO of the Islamic Corporation for the Development of the Private Sector (ICD), which is affiliated with the Islamic Bank, said that the corporation was looking to provide financing and credit facilities, including Sukuk, for major Saudi projects such as NEOM and the Red Sea.   

Sejiny stated that the Saudi government was the largest supporter of the Islamic Corporation for the Development of the Private Sector.  The CEO of ICD revealed that the Corporation aims to finance major projects in the Kingdom, especially new projects such as NEOM and the Red Sea.

“We also have 119 banks in the network… Therefore, we asked them to be present in our own platform – Bridge - to improve communication, knowledge sharing, and investment interactions between financial institutions,” he remarked.