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Islamic Corporation for the Development of the Private Sector (ICD) to Launch Roadshow for Groundbreaking Tenge Sukuk

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The Islamic Corporation for the Development of the Private Sector (ICD) is proud to announce that it has enlisted the services of Tengri Partners Investment Banking to organize investor meetings in advance of a five-year Tenge-denominated sukuk

JEDDAH, Kingdom of Saudi Arabia, May 14, 2023/APO Group/ — 

Islamic Corporation for the Development of the Private Sector (ICD) (http://www.ICD-ps.org) is launching a potential five-year Tenge sukuk to expand its operational assets in Kazakhstan and support local lending; this could be the first-ever tenge sukuk by a Development Financial Institution and will be an amortized Sukuk with all payments made in Tenge; the move supports ICD’s Line of Finance activities in Kazakhstan and highlights the growing trend of local currency borrowing in ICD member countries.

The Islamic Corporation for the Development of the Private Sector (ICD) is proud to announce that it has enlisted the services of Tengri Partners Investment Banking to organize investor meetings in advance of a five-year Tenge-denominated sukuk. This move is expected to pave the way for the very first tenge sukuk by a Development Financial Institution.

The senior unsecured sukuk is currently subject to market conditions, with fixed-income investor meetings already underway in Almaty and set to continue this week. ICD, rated ‘A+’ by Fitch Ratings, is eager to expand its operational assets in Kazakhstan and will use the proceeds to finance its local lending in the country.

All payments, including settlement, coupon, and principal, will be made in Tenge. The potential issuance will be an amortized Sukuk that matches the cashflow of the financing assets, starting from the end of 12 months from the issuance date and semi-annually thereafter on an equal amount basis.

ICD is proud to be at the forefront of this trend, making it easier for eligible financial institutions and SMEs to access financing in local currencies

ICD has chosen the Republic of Kazakhstan for its first borrowing from the local markets, marking a significant milestone for the organization. With well-established ties to Kazakhstan, which is the leading player in Islamic finance in the Central Asian region, ICD has played a key role in the conversion of Zaman Bank into a fully Shariah-compliant operation, making it one of the few Islamic banks in the country. In recent years, Kazakhstan has taken legal and regulatory steps to introduce Islamic banking and finance, positioning itself as a hub for Islamic finance in Central Asia.

This move is expected to support ICD’s Line of Finance activities in Kazakhstan, facilitating the implementation of an approved local currency global line of finance to support eligible financial institutions and SMEs in Kazakhstan.

With hard currency rates on the rise and making the private sector reluctant to borrow, there is a strong demand for local currency borrowing in IsDB member countries. Other multilateral financers have utilized local currency borrowing for their on-lending activities, and local currency emerging market bonds have been a growing trend for the past few years in the Commonwealth of Independent States (CIS).

ICD is proud to be at the forefront of this trend, making it easier for eligible financial institutions and SMEs to access financing in local currencies. The potential sukuk issuance is a crucial step forward for ICD, demonstrating the organization’s commitment to the development of the private sector across member countries.

Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

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Digital Storytelling: “Zhengzhou in Cultural Relics” Debuts with AR Reconstructions Global Premiere on International Day for Monuments and Sites

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ZHENGZHOU, CHINA – Media OutReach Newswire – 25 April 2025 – On International Day for Monuments and Sites (April 18), Zhengzhou in central China’s Henan Province launched the documentary series “Zhengzhou in Cultural Relics” for global distribution, digitally bringing the brilliance of Central Plains civilization to worldwide audiences.

Curated from the 50-episode documentary “Zhengzhou in Cultural Relics”, the 10-episode series highlights major cultural heritage sites in Zhengzhou, including the Shuanghuai Tree “Heluo Ancient Kingdom”, Peiligang Site, and the Pagoda Forest of Shaolin Temple. Using animation, reenactments, and other techniques, it brings these ancient sites to life, blending storytelling with historical interpretation.

Zhengzhou, capital of Henan Province and once known as Shang Capital, sits at the heart of China. A key cradle of Chinese civilization, it ranks among the nation’s eight major ancient capitals. The city boasts 2 World Heritage Sites (12 entries), 83 national-level key cultural relics protection sites (89 entries), and nearly 10,000 immovable cultural relics. Its archaeological finds have been listed in China’s “Top Ten New Archaeological Discoveries” 16 times, more than any other Chinese city. Over recent years, Zhengzhou has excelled in archaeological research, museum revitalization, top-tier exhibitions, and cultural heritage promotion, winning wide acclaim.

“Zhengzhou in Cultural Relics“, jointly produced by Zhengzhou’s Institute of Cultural Relics and Archaeology and Xinhua News Agency, took five years to craft. In 2024, the documentary was named an “Excellent Project for Chinese Cultural Relics New Media Dissemination” by the National Cultural Heritage Administration, making it Henan Province’s sole honoree that year.

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Chinese and foreign guests gather to talk about innovation and development of Museum in Liangzhu, Hangzhou

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HANGZHOU, CHINA- Media OutReach Newswire – 25 April 2025 – From April 23 to 25, 2025, the Third UNESCO High-level Forum for Museums was held in Hangzhou, Zhejiang Province. More than 190 Chinese and foreign guests, including museum curators, experts and representatives of relevant institutions from more than 60 countries and regions, gathered in Liangzhu to discuss the innovation and development of museums.

“Museums are the most visited cultural sites in the world, and their development is also facing multiple challenges.” said Mr. Ernesto Ottone R., Assistant Director-General for Culture, UNESCO in his opening speech. He likened museum to a beacon of resilience and hope, “It guards memory, stimulates creativity and builds bridges to a more equal, inclusive and sustainable society.”

The forum lasts for three days, including keynote speeches, thematic exchanges, interactive links and field visits. Representatives from Chantilly Castle in France, National Museum of Colombia, Singapore Museum, Jordan Museum, Palace Museum of China, China Arts and Crafts Museum (China Intangible Cultural Heritage Museum) as well as others shared their experiences and practices around the themes of “the evolution and transformative role of museums”, “the application of digital technology and artificial intelligence”, “the role of museums as educational carriers and lifelong learning platforms”.

The forum also conducted interactive exchanges on topics such as virtual museum of stolen cultural relics, cutting-edge technology exhibitions, the challenges and innovations in contemporary museums. Additionally, it submitted a report on the outcomes of the World Conference on Cultural Policies and Sustainable Development, which is scheduled to take place in Spain in September 2025.

Hangzhou is a famous historical and cultural city, a city of innovation and vitality, and a city of ecological civilization. Hangzhou embodies history in every corner and cultural legacy every step. The three wonders of world cultural heritages, West Lake, Liangzhu Archaeological Ruins and Beijing-Hangzhou Grand Canal, synergize into a heritage matrix where historical legacies mutually illuminate their civilizational dimensions. Nearly 300 museums, various cultural relics resources and cultural products are distributed throughout the city.

Technological innovation and Liangzhu culture are two shining “golden cards” in Yuhang District of Hangzhou, “Five thousand years of Chinese civilization are epitomized in the Liangzhu Ruins”. In recent years, Hangzhou Liangzhu Archaeological Site Administrative District Management Committee has cooperated with many universities and scientific research institutions to solve the problem of “protection of earthen sites in humid environment” and provide solid support for the protection and inheritance of Liangzhu culture.

At Liangzhu Museum, global visitors use AR glasses to animate engraved black pottery from 5,000 years ago, digitally reviving ancient lifeways while building inclusive cultural bridges through technology. The Liangzhu culture is radiating new vitality in the new era.

“Led by AI-driven technological and scientific revolution, the museum sector is undergoing systemic transformation. Digital technologies now serve as an important transnational connectors of civilizations. We are willing to join hands with our global counterparts to promote dialogue among civilizations through technological innovation and inject cultural impetus into sustainable development”,said Ding Pengbo, deputy curator of the National Museum of China .

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Golar Liquefied Natural Gas (LNG),Chief Commercial Officer (CCO) Joins Invest in African Energy (IAE) 2025 Speaker Lineup

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Federico Petersen, Chief Commercial Officer of Golar LNG, will share his expertise on the future of LNG in Africa and the role of floating LNG solutions in driving the continent’s energy transformation at the Invest in African Energy Forum in Paris next month

PARIS, France, April 25, 2025/APO Group/ –Federico Petersen, Chief Commercial Officer (CCO) of Golar LNG, will join the upcoming Invest in African Energy (IAE) 2025 Forum in Paris to discuss scaling LNG in Africa, overcoming infrastructure challenges and attracting investment. With Africa rapidly expanding its gas infrastructure, Petersen’s insights are expected to showcase how innovative LNG solutions can support sustainable energy growth across the continent.

As a global leader in floating LNG (FLNG) solutions, Golar LNG is advancing gas monetization across Africa. The company is actively involved in several key projects, including the Hilli Episeyo FLNG facility off the coast of Cameroon, operational since 2018, which plays a crucial role in unlocking regional gas resources with cost-effective, scalable LNG production. Golar LNG is also a key player in the Greater Tortue Ahmeyim project offshore Senegal and Mauritania, where it owns and operates the Gimi FLNG, which received its first feed gas in January 2025, marking a major milestone in LNG export operations.

IAE 2025 (https://apo-opa.co/3ECl25bis an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Additionally, Golar LNG is exploring further opportunities across the continent, including ventures in the Republic of Congo and Nigeria. In June 2024, the company signed an agreement with the Nigerian National Petroleum Corporation to deploy an FLNG vessel in the Niger Delta, utilizing 500 million cubic feet of gas per day to generate LNG, propane and condensate, with a final investment decision expected later this year.

The growth of LNG in Africa is set to accelerate in the coming years as key markets seek to tap into their vast natural gas reserves. As such, Petersen’s participation at IAE 2025 is poised to showcase the pivotal role of FLNG in enhancing energy security, driving economic growth and fostering regional cooperation.

As the global energy landscape shifts toward cleaner, more sustainable sources, LNG will remain crucial in powering Africa’s future, offering a reliable transition fuel to support the continent’s ambitious energy goals. With IAE 2025 as a platform for high-level dialogue and partnerships, the forum will provide an invaluable opportunity for stakeholders to explore the latest LNG developments, deepen collaboration and drive investments that will shape the future of African energy.

Distributed by APO Group on behalf of Energy Capital & Power

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