BAKU, Azerbaijan, September 5. The Central Bank of Azerbaijan (CBA) and the Islamic Corporation for Insurance of Investment and Export Credits (ICIEC) have discussed issues of investment insurance and export credits on the basis of Islamic principles, said CBA Chairman Taleh Kazimov on X (Twitter), Trend reports.
"We discussed the issues of export credit insurance and investment insurance based on Islamic principles during our meeting with the ICIEC delegation led by Director General Ousama Abdel Rahman Kaissi. In particular, we discussed the role that these financial relationships played in the growth of the real sector and financial system in our nation. At the same time, we talked about strengthening the connections between our organizations," the chairman said.
Earlier in January this year, ICIEC welcomed Azerbaijan as its 49th member state. ICIEC will work closely with the Government of Azerbaijan to support economic and social infrastructure projects in trade, agriculture, energy, water, sanitation, and urban services, and with the private sector to improve access to finance. Also, ICIEC supports Azerbaijan's national priorities for socio-economic development until 2030 by achieving sustainable economic growth and high social welfare, as well as prioritizing a clean environment and a country of green growth.
ICIEC was established in 1994 to strengthen economic relations among OIC member states and facilitate trade and investment.