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In
addition to its project financing activities, ICD devoted significant
time and effort to carry out some parallel tasks deemed essential
for the fulfillment of its mandate. These are outlined as follows:
Building necessary
infrastructure
During the first year of operation, ICD
started to build up its internal procedures through the preparation
and internal approval of the accounting manuals, human resources
policies and procedures, code of ethics and its investment guidelines.
Finally, improving the role of IT within the organization was
also given a significant attention in ICD's first year of operation.
Identifying
Strategic Partners
Since co-operation with other institutions
is regarded by ICD as a key-element for success, it started identifying
strategic partners in the last two years. Thus, ICD visited and
received delegations from various international, regional and
bilateral private financial institutions to build alliances and
partnerships.
Establishing Market Presence
Given that ICD is a new institution and
its geographical reach is the member countries of IsDB, emphasis
was put on promoting its image in its constituencies. Within this
framework, ICD visited a number of member countries to introduce
itself to the private sector and establish contacts with business
people, and participated in several seminars on topics related
to its field of activity.
Setting up its
organization
ICD currently consists of
three departments, namely the Investment and Marketing Department,
the Portfolio Management and Treasury Department, and the Corporate
Services and Risk Management Department. Moreover, ICD started
its operation with 9 staff members, and during the year recruited
4 additional staff members. Effort is also being made to recruit
and train the needed staff in order to enable ICD to operate efficiently.
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