ICD buys Capitas Group International - africanbusinessmagazine.com
Jeddah — As part of its strategy to facilitate private sector investment, the Islamic Corporation for the Development of the Private Sector (“ICD”), has acquired Capitas Group International and has changed its name to Catalyst Group.
The existing Catalyst Group management team is extending market interventions in real estate development and Islamic non-bank financial institution advisory services.
In conjunction with the launch of the new brand, the tag line ‘Energizing Enterprise’ has been chosen to better reflect the current and future direction of the company.
Khalid Al Aboodi, CEO of ICD stated “the acquisition of Catalyst Group is strategically important as it will act as a facilitator for business in the markets we serve”. “Catalyst Group is pleased to have the support of the ICD and looks forward to assisting our partners with pure play real estate opportunities, real estate finance advisory services, and generally improving access to capital for small-to-medium enterprise through our interventions” added Nazih Al Naser, CEO of Catalyst Group.
About the Islamic Corporation for the Development of the Private Sector
ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Sharia’a. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information, visit www.icd-ps.org
About Catalyst Group
Catalyst Group was established in 2009 and is a wholly-owned subsidiary of the Islamic Corporation for the Development of the Private Sector, member of the Islamic Development Bank Group. The company is a leading provider of technical advisory services for Islamic Non-Banking Financial Institutions & Real Estate Development Services. For more information visit www.catalsytgroup360.com
Mr. Yousef Faris,
Shaker Center, 7th Floor
Prince Sultan Street
Jeddah 21493 Saudi Arabia
fax: +966 12 618 2123
tel: +966 12 618 2100