Page 71 - ICD AR21 EN

7.2 PROJECT CYCLES
The figure below shows the simplified seven-stage cycle of a business deal for it to become an ICD investment project.
ICD provides a variety
of advisory services to the governments, public sector and private sector entities of its member countries.
OUR PRODUCTS AND PROCESSES
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ORIGINATION & PRELIMINARY ASSESSMENT
CONCEPT REVIEW
FINAL REVIEW
The final Due Diligence report and the indicative term sheet are presented to the Investment Committee for final clearance and approval.
EXECUTIVE COMMITTEE APPROVAL
Final financing conditions and the final project information memo are presented to the Executive Committee for final approval on behalf of the Board of Directors (if required).
⚪ Projects are sourced either directly through ICD’s Business Development team or from the Client.
⚪ Initial KYC & compliance assessment is conducted with ICD’s relevant policies and guidelines and its strategy to ensure maximum developmental impact and Shari’ah compliance.
⚪ Initial concept review & clearance of the project
by concerned/relevant departments and then approved by the Investment Committee.
⚪ Thereafter, the concerned department starts conducting a project appraisal sanctioned by a Due Diligence report and the Financing term sheet.
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EFFECTIVENESS & DISBURSEMENT
MONITORING & EVALUATION
PROJECT CLOSING
⚪ The project’s effectiveness is declared after the satisfactory compliance
of all Shari’ah legal requirements has been confirmed.
⚪ Disbursement occurs upon declaring the effectiveness and fulfillment of all CPs (Conditions Precedents).
⚪ ICD’s follow-up teams closely monitor each stage of implementation.
⚪ The follow-up teams track the developmental results of projects which have reached early operating maturity.
ICD closes the books on a project when the investment is repaid in full, or when the corporation exits by selling its equity stakes.
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