The Road to the SDGs

transactions will ensure speedy project implementation in MCs – The platform will encourage FIs to adopt solutions and policies that ensure sustainable development in MCs. METHOD X The platform will enable the following areas of activity between Islamic banks, takaful companies, leasing companies and microfinance institutions: – Collaboration and facilitation for activities including cross selling and sourcing syndication, term finance, advisory, sukuk transactions, line of financing, asset management, PPP, equity, dealing in treasury and financial market instruments, and other transactions of mutual interest – Provision of advisory services and best practices for SME financing (for example) – Provision of online training — Islamic finance, takaful, sound financial management, treasury management and impact of economic data on financial markets – Mortgage business with fintech servicing (mortgage-backed securities (MBS)) – Asset management products to be sold through the platform after regulatory approvals – Treasury operations to serve all 100 participating FIs – Sharing of information in relation to mutually beneficial private sector projects and business opportunities in MCs (via matchmaking) – Managing big data through the platform to allow the reporting of information to flow back to ICD so that its investments and financing will improve as a result – Maintaining the privacy of all data shared through the platform to ensure fairness and avoid any conflict of interest between participating FIs. X Registration of interested FIs for free on ICD’s website with a choice of two types of membership: – Standard — Free and open to all FIs. This section consists of articles and resources of Islamic financing tools and techniques plus a CEO Club where CEOs can network for support, advice and mentoring – Gold — FIs can register for a modest annual fee and join the global network of over 100 FIs for information and deal sharing. ACHIEVEMENTS X The Bridge Platform is composed of three main phases: – Phase 1: Information sharing and communications – Phase 2: Business and market intelligence services, standardisation of services and matchmaking with investment opportunity identification – Phase 3: Commercial transactions and global marketplace exchange, with a range of Islamic financial products such as sukuk, mortgages, takaful, direct investments, SME financing, MBS, and robotic advisory. X Phase 1 was successfully completed in 2020 with a network of more than 88 FIs and 12 leasing companies worldwide entitled to register on the platform. X A trial version of the deal-flow testing was also launched before the official launch of phases 2 and 3. INVESTMENT X The Bridge Platform has been funded internally by ICD as one of the main initiatives to be adopted as a means for it to contribute to the digital transformation journey of IsDB’s partner FIs. T H E B R I D G E P L A T F O R M Phase 1 was successfully completed in 2020, with a network of more than 88 FIs and 12 leasing companies worldwide entitled to register on the platform [ 95 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S