Madrid, Spain - September 19, 2014 - IE Business School and ICD signed a partnership agreement at the start of the program, which opens with the first of the two residential periods in Madrid next week.  The agreement aims to create a Corporate MBA program specifically developed for the employees of ICD, IDB Group and private sector entities from their member countries.

Harnessing and developing talent, building a high performance culture by creating an conducive environment- transparent, merit driven and supportive are main objectives of ICD. In line with its private sector developmental mandate, ICD is keen to build a pool of highly talented young executives who are capable of supporting the channels and investees current and future business requirements.

The 15-month Corporate MBA program will include 10 residential periods, each one week in length.  The opening and closing sessions, including the graduation ceremony, will take place on the IE Business School campus in Madrid, Spain; and six residential periods will be held at ICD headquarters in Jeddah, Saudi Arabia.  The remaining two modules will be taught by faculty at collaborating U.S.-based schools, including​ Harvard Kennedy School in Cambridge, Massachusetts.

Between these face-to-face classroom sessions, the ICD students will utilize IE's online learning platform to access multimedia material and cases, group work, and class updates.

The 40 executives participating in the Corporate MBA program have been chosen by ICD as experienced and polyvalent employees with an average of 10 years of work experience. The Graduates of the ICD MBA will receive an MBA degree from IE Business School.

The core ICD MBA curriculum will include Marketing, Accounting, Strategy, Economics, Finance - including Valuation and Behavioral Finance - Operations, and Entrepreneurship.  Courses will also develop the leadership, teamwork, and negotiation skills of participants.  Instruction at Harvard Kennedy School will include a policy perspective on the MBA curriculum.

Dr Abdelziz Mustafa commenting on the agreement on behalf of the Chief Executive Officer of ICD, Mr. Khaled Al Aboodi, by saying: "The mandate of ICD is basically the development. We are certain that a critical part of the development is education. In this regard, ICD management is keen to build the capacity of its staff in order to be able to develop and apply the best practices in our markets in the member countries. Furthermore, ICD is not only financing and investing institution but also advising and catalyzing positive change".

 "This institutional MBA, which we developed specifically for ICD is unique in terms of learning objectives covered and the format how it is being delivered. Especially our collaboration with the Harvard Kennedy School adds the necessary political perspective to the program" said IE Business School Dean of Programs Martin Boehm.

-Ends-

For media enquiries,  please contact:
Felix Valdvieso
Director of Communications
IE Business School, IE University
Email: Felix.Valdivieso@ie.edu
Website: www.ie.edu/

Nabil El-Alami,
Head, Marketing and Communication Division
Islamic Corporation for the Development of the Private Sector
E-mail:  nalami@isdb.org 
Website: www.icd-idb.org  

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 organization, part of the Islamic Development Bank (IDB) Group. ICD was established in November 1999 to promote economic development of its member countries in accordance with the principles of the Sharia through private sector development. ICD encourages the establishment, expansion and modernization of private enterprises through financing private sector enterprises or projects. Projects are selected on the basis of their contribution to economic development considering factors such as creation of employment opportunities and contribution to exports. ICD also provides advice to governments and private sector groups on policies to encourage the establishment, expansion and modernization of private enterprises, development of capital markets, best management practices and enhance the role of market economy. ICD operations complement the activities of the IDB. For more information, visit www.icd-idb.com

About IE Business School
IE Business School, considered to be among the best in the world, offers a range of top-ranked masters, MBA and Executive MBA programs. IE's master degrees are available in a number of different formats, allowing you to organize your studies around your personal and professional life. IE Business School, a triple crown accredited business school, has masters programs to fit all profiles - from recent graduates to experienced executives. . For more information, visit www.ie.edu

© Press Release 2014