Marketing
The Islamic Corporation for the Development of the Private Sector (ICD) extends USD 20 million Islamic financing to expand Jordan’s non-woven fabrics industry
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- USD 20 million medium-term Islamic finance facility to expand non-woven fabrics production capacity through advanced Spunlace equipment.
- API is Jordan's leading non-woven fabrics manufacturer, producing essential materials for personal hygiene products, healthcare PPE including gowns and face masks, and agricultural applications.
- The expansion aims to create substantial employment opportunities, strengthening Jordan's industrial competitiveness and economic diversification.
- Supports UN SDGs including Decent Work and Economic Growth, Industry and Innovation, and Partnerships for the Goals.
The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector arm of the Islamic Development Bank (IsDB) Group, has recently extended USD 20 million medium-term Islamic finance facility to Applied Plastic Industries Company (API), the leading manufacturer of non-woven fabrics in Jordan. The facility will finance capital expenditure for advanced Spunlace equipment, enabling API to establish a new production line and expand its manufacturing capacity.
The financing will enable API to acquire cutting-edge Spunlace technology, enhancing production efficiency and product diversification. This investment supports Jordan's manufacturing sector modernization while contributing to the country's broader economic development objectives through sustainable industrial growth.
Commenting on the financing, Dr. Khalid Khalafalla, Acting Chief Executive Officer of ICD, stated: "This financing facility exemplifies ICD's strategic commitment to advancing industrial development across our member countries. By partnering with Applied Plastic Industries, we are making a targeted investment in Jordan's manufacturing value chain that aligns with the nation's economic diversification objectives. This transaction demonstrates the powerful role of Shariah-compliant finance as a catalyst for private sector expansion, job creation, and inclusive economic development. The expansion of API's production capacity will strengthen Jordan's competitive position in regional non-woven fabrics markets while creating meaningful employment opportunities that directly contribute to sustainable development."
Mr. Radwan Khattab, General Manager of Applied Plastic Industries Company, said: "We are honored to partner with ICD, a globally respected development finance institution that shares our vision for sustainable industrial growth. This financing facility represents a transformational milestone for API, enabling us to acquire state-of-the-art Spunlace technology that will enhance our production capabilities and product quality. The investment will not only expand our market reach regionally but will also create substantial employment opportunities for Jordanian professionals and skilled workers. We are committed to contributing to Jordan's economic development agenda and are confident that this partnership with ICD will strengthen our position as a leading manufacturer in the Middle East's non-woven sector."
This initiative advances ICD's mission to foster sustainable economic development in its member countries. By channeling capital into Jordan's manufacturing sector, the project aims to create substantial employment opportunities, enhance industrial competitiveness, and support the United Nations Sustainable Development Goals, particularly SDG 8 (Decent Work and Economic Growth), SDG 9 (Industry, Innovation and Infrastructure), and SDG 17 (Partnerships for the Goals).
The expansion project aligns strategically with Jordan's national objectives of fostering economic growth, creating quality employment opportunities, and advancing the nation's vision of becoming a sustainable and competitive regional economy.
Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).For Media Inquiries:
Nabil El-Alami
Communications & Corporate Marketing Division Manager
Email: nalami@isdb.org
Follow ICD on:
X (formerly Twitter) @ icd_ps
LinkedIn @ icdps
Facebook @ icdps
YouTube @ icdps
About Applied Plastic Industries Company (API):
Applied Plastic Industries Company (API), established in 2019, is a prominent manufacturing entity in Jordan and a significant player in the Middle East's non-woven sector. The company produces non-woven fabrics, calcium carbonate, masterbatch, disposable medical clothing, and non-woven reusable bags, leveraging its 540,000 tons annual capacity operated with state-of-the-art German machinery. Known for consistent growth and profitability, API employs 500 individuals and maintains a strong commitment to ongoing human resource development.
About the Islamic Corporation for the Development of the Private Sector (ICD):
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development finance institution and member of the Islamic Development Bank (IsDB) Group. Established in November 1999 and headquartered in Jeddah, Saudi Arabia, ICD supports economic development in its 56 member countries by providing financial assistance to private sector projects in accordance with Shariah principles.
With an authorized capital of USD 4.0 billion and more than 25 years of operational excellence, ICD complements IsDB's activities by promoting capital market development, best management practices, and enhancing the role of market economies. ICD holds strong credit ratings of A2 by Moody's, A+ by Fitch, and A by S&P, reflecting its solid financial standing and commitment to sustainable development.
For more information, visit www.ICD-ps.org
Forum of Operators for the Guarantee of Economic Emergence in Africa (FO.GE.CA) Dubai 2025: MIR Holding subsidiaries recognized, highlighting an entrepreneurial journey with global...
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In the margins of the 18th edition of the Forum of Operators for the Guarantee of Economic Emergence in Africa (FOGECA), held from 18 to 20 December 2025 in Dubai, several subsidiaries of MIR Holding SAS (https://MIRHolding.Odoo.com) were recognized for the quality of their achievements, their operational structuring, and their ability to operate sustainably in demanding international economic environments.
FOGECA has established itself as a high-level economic forum bringing together each year business leaders, investors, financial institutions and public decision- makers from Africa, the Middle East, Europe and Asia. The distinctions awarded during the forum aim to recognize companies that demonstrate, beyond discourse, a genuine capacity for execution, strong governance, and measurable, long-term value creation.
Three companies recognized across strategic sectors
Among the MIR Holding group entities recognized this year are three companies operating in key strategic sectors:
JC Maclean International, specializing in high-end fit-out and interior design for residential, commercial and corporate projects. Based in Dubai, the company has distinguished itself through its technical rigor, its ability to manage complex projects, and its strict adherence to international standards in quality, timelines and safety.
Moustev Limousine Dubai, a premium VTC and chauffeur-driven transport company, recognized for its integrated approach and its capacity to support corporate clients in managing their mobility needs, particularly in multicultural and multi-country contexts. Its model is built on service reliability, operational responsiveness and adaptability to both local and international environments.
Majestic Living Properties, a real estate platform focused on development, marketing and investment advisory for residential and commercial assets. The company was recognized for its vision of real estate investment, combining transparency, asset quality and customer experience, particularly across Africa–Middle East investment flows.
A recognition rooted in long-term structuring
For MIR Holding SAS, these distinctions are not an end in themselves but rather the outcome of a long-term structuring process. They reflect the ability of companies originating from an African group to grow, attract talent and operate successfully within major global economic hubs, while maintaining a pragmatic and disciplined understanding of markets.
Present in Dubai during the forum, Mouhamad Dieng, Founder and CEO of MIR Holding and President of the Mouhamad Rassoul Dieng Foundation, emphasized that this trajectory is above all the result of entrepreneurial discipline, method and long- term vision.
“These distinctions primarily recognize the work of committed teams and the strength of business models built to last. They demonstrate that starting from local realities, and remaining demanding in terms of structuring and governance, it is possible to build companies capable of operating at the highest international level,” he stated.
Originally from Senegal, Mouhamad Dieng highlighted that this international recognition also carries a message of inspiration for young Senegalese and African entrepreneurs, illustrating a path to success grounded in hard work, rigor and the ability to think globally without renouncing one's roots.
A strong signal for Senegal's economic ecosystem
At a time when Senegal is seeking to strengthen the role of its private sector within regional and international value chains, the recognition of MIR Holding subsidiaries at FOGECA illustrates the potential of African companies to establish themselves beyond their domestic markets.
Through its various entities, MIR Holding SAS continues to pursue a development strategy based on the structuring of robust companies, the upgrading of service offerings, and expansion into high-value markets, particularly between Africa and the Middle East.
The distinctions awarded in Dubai are part of a broader dynamic in which credibility is built through results, consistency and the ability to generate tangible economic impact.
Distributed by APO Group on behalf of MIR Holding.Press Contact:
Elisabeth Tine
Communications Officer
contact@brainz-sn.com
Tel: +22133 843 99 47
Empowering Uzbek Small and Medium Enterprises (SMEs): Islamic Corporation for the Development of the Private Sector (ICD) Provides $10 Million Line of Financing to...
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Anor Bank, a leading digital bank in Uzbekistan, has signed a Line of Financing agreement with ICD (https://ICD-PS.org/). Under the agreement, ICD will provide a USD 10 million Line of Finance facility to Anor Bank. The facility aims to support small and medium-sized enterprises (SMEs) in Uzbekistan and enhance access to Islamic financial solutions for the private sector, in line with Anor Bank's mission to promote sustainable economic growth across the country.
This financing facility represents a significant milestone in advancing Anor Bank's strategic objectives, particularly in strengthening SME development, expanding private sector financing, promoting Islamic finance, and contributing to the diversification of Uzbekistan's economy.
The initiative is fully aligned with ICD's strategic focus on fostering SME growth and supporting private sector development as a key driver of sustainable economic progress across its member countries.
The agreement was signed by Dr. Khalid Khalafallah, Acting Chief Executive Officer of ICD, and Mr. Sherzod Akramov, Chairman of the Management Board of Anor Bank.
This pioneering transaction establishes ICD as the first multilateral development bank to provide a Line of Finance to Anor Bank, creating a strategic cornerstone for accelerating private sector growth in Uzbekistan. It paves the way for a new era of collaboration and investment.
Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).For further details, please contact:
Anor Bank
Mr. Mirsodiq Mirzahidov
Head of International Relations Division
Mirsodiq.Mirzahidov@anorbank.uz
Ms. Nozigul Ismatova
International Relations Division
Anor Bank
Nozigul.Ismatova@anorbank.uz
Islamic Corporation for the Development of the Private Sector (ICD)
Nabil El-Alami
Communications & Corporate Marketing Division Manager at ICD
Nalami@isdb.org
About Anor Bank:
JSC Anor Bank, founded in 2020, is one of Uzbekistan's fastest-growing digital banks, offering a full range of financial services to retail and corporate clients through digital channels and 17 sales offices nationwide. The Bank leverages technology-driven platforms to provide fast and convenient access to financial products for both small and medium-sized enterprises and individual clients. Anor Bank actively implements CSR initiatives in education, environmental sustainability, and social development, while promoting financial literacy, especially in remote regions of Uzbekistan, contributing to inclusive economic growth and the country's sustainable financial sector development.
About the Islamic Corporation for the Development of the Private Sector (ICD):
ICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD's mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises. ICD is rated ‘A2' by Moody's, ‘A+' by Fitch, and ‘A' by S&P.
Website: https://ICD-PS.org/
Africa-wide campaign celebrates the joy of going ‘home-home’ – with KFC
What can you get away with at home, that you could never dream of doing when you get back “home-home”, over the festive season?
An insightful pan-African KFC campaign celebrates exactly this fascinating part of life across the continent – the parallel lives that young people live at “home” in the city, and “home-home”, where they come from.
In Kenya, visiting the rural areas is called “going to Shagz,” and there are a bunch of other vernac expressions for it. The culture clash of going home is a hilarious part of our shared African culture, come Christmas time.
The KFC Home-Home campaign shows that while there are certain parts of ourselves that we might not want to bring “home-home”, the one thing that everyone agrees on is the finger-lickin' good taste of KFC.
“In the city, anything flies; you can rock your tattoos, wear anything, and speak any way you want,” says Mukundi Munzhelele, KFC Marketing Director, EW&I and Marketing Excellence. “But when you're home-home, that doesn't fly. You're expected to go back to your default settings. Luckily, the good thing about KFC is that it always flies – whether you're at home or home-home.”
The Home-Home campaign launched across several African markets and runs throughout the festive season. It features two social-media components, several branded films, out-of-home, and the #KFCHomeDos&Donts rollout on radio and social.
The latter rollout has grabbed the imagination of listeners and users right across Africa, as they share what they got up to at home that would never fly at home-home — via voice notes, comments or replies. Participants stand to win a range of KFC vouchers and prizes.
The campaign also launched trends on socials, as influencers embraced the idea, with travel vlogs, and “home vs home-home” content becoming the flavour of the moment. User-generated clips could see kids pranking their parents, by calling them by their first names, or leaving the TV on when they went to bed!
Leaving unwashed dishes overnight? Wearing shoes indoors? Fancy nails? Glam outfits? Speaking your mind a little too freely? All these big-city ways must be put on the back burner when young Africans return home.
Some have even noted the unwritten rules that apply when enjoying a bucket of KFC with the family. Dad has dibs on the biggest piece of chicken, while it takes brave diplomacy to secure the last piece in the package. Another eternal truth is that the one who goes to pick up the KFC order is never the one who pays for it!
Whether the festive bucket is brought home, or all the way home-home, the joy of sharing KFC with friends and family remains undiminished.
The KFC Home-Home campaign was devised by KFC along with lead agency Ogilvy.
“The campaign began with the cultural insight that many urbanised African people live parallel lives, between our homes in the city and our other homes in the communities of our extended families,” says Ogilvy South Africa Executive Creative Director Snooze Kambuwa. “We tried to celebrate that, complete with all the good-natured subterfuge and code-switching that goes with it. But we also made the point that KFC flies wherever you are – at home, or home-home.”
The KFC Home-Home campaign rolled out across Ghana, Tanzania, Senegal, Kenya, Uganda, Rwanda, Gabon and Mauritius, and runs into early January.