PUBLICATION OF THE AWARD OF CONSULTANCY CONTRACTS FOR THE PROJECTS FINANCED BY THE ISLAMIC DEVELOPMENT BANK

INFORMATION NOTE

Publication date: 1 December 2025

Country: Saudi Arabia

Executing agency: Islamic Development Bank Institute

Name of Project / Study: Formulate a Comprehensive Study on Developing Risk-Sharing Financial Solutions for Startups in Civil Law Jurisdictions

Mode of Financing Number: ZZZ2816

Name of Request for Proposals (RFP): CONSULTING SERVICES to Develop Risk-Sharing Financial Solutions for Startups in Civil Law Jurisdictions

Selection method: Consultants’ Qualification Selection (CQS)

REOI publication date: 18 March 2025

Issuance date of the RFP: 16 June 2025

Opening date of technical proposals: 5 July 2025

Opening date of financial proposals: 5 July 2025

Date of approval by the Bank of the negotiated draft contract: 11 November 2025

1. Successful Consultant

Name: IE Foundation (Fundacion Instituto De Empresa)

Nationality: Spain

Address: María de Molina 13, 28006 Madrid

Contract amount: USD 150,000

Contract’s start date: 13 November 2025

Duration of execution of the Contract: Between 13 November 2025 and 13 November 2027

Summary of the purpose of the Contract: The core purpose of this contract is to design a comprehensive, Shari'ah-compliant model contract for risk-sharing financing of startups that integrates seamlessly within the European legal framework, particularly focusing on civil law systems using a detailed EU country case study. This requires first reviewing current European risk-sharing financing solutions for their compatibility with Islamic finance principles, followed by in-depth research into viable solutions within civil law. The resulting model must be adaptable for broader use across the EU, North Africa, and the Gulf, and its potential will be evaluated for supporting entrepreneurship beyond just startups. The entire study and proposed models will be subject to an independent external Shari'ah review.