Saudi-based Islamic Corporation for the Development of the Private Sector (ICD) has signed a memorandum of understanding with Morocco’s Al-Ajial Funds (Al-Ajial), Arab News has reported. Through this partnership, ICD and Al-Ajial Funds will establish a framework of cooperation in order to co-invest in potential projects within Morocco’s private sectors. “ICD is particularly interested in Al-Ajial Funds’ experience in supporting Morocco’s private sector and its strong record of successful accomplishments,” said ICD chief executive, Khaled Al-Aboodi. “Joining our forces to accompany the development of Morocco’s private sector is an important milestone for ICD’s investment strategy in the kingdom.”
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