The Islamic Corporation for the Development of the Private Sector (ICD) has secured a $50 million line-of-finance facility with Al Salam Bank BSC to bolster Shariah-compliant financing for Bahrain’s private sector. This marks ICD’s second such facility in the country, according to a statement posted on the institution’s social media channel.

Bahrain’s economy recorded a real growth rate of 3.5 percent in 2025, driven largely by the financial and insurance sectors, which expanded by 5.6 percent and contributed 17.6 percent to the nation’s real gross domestic product. These sectors remain the largest non-oil contributors to the Bahraini economy.

ICD described the new facility as part of its ongoing commitment to supporting Bahrain’s economic diversification, private sector expansion, and job creation. The partnership with Al Salam Bank aims to align with Bahrain’s long-term development objectives. Details such as the facility’s maturity, pricing, and sectoral allocation were not disclosed.

Separately, Al Salam Bank reported an increase in consolidated assets to 8.05 billion Bahraini dinars ($21.36 billion) in 2025, up 14 percent from the previous year. The bank’s financing assets also rose by 11.1 percent to 4.1 billion dinars, underscoring its growing role in the Bahraini financial landscape.

This recent agreement differs from a $50 million Murabaha financing facility signed between ICD and Al Salam Bank during the Islamic Development Bank Group’s annual meetings in Baku in June. Together, these transactions highlight ICD’s strategic emphasis on expanding access to Islamic finance products within Bahrain to stimulate private sector growth and economic resilience.