ALGIERS, Algeria, May 20. Eurasian Development Bank intends to become a platform for the development of Islamic finance in Central Asian countries, Chairman of the Management Board of the Eurasian Development Bank Nikolai Podguzov, said, addressing the 19th IsDB Global Forum on Islamic Finance: Digital Transformation and Financial Inclusion in Islamic Finance, held as part of the IsDB Annual Meetings in Algiers, Trend’s special correspondent reports.
“The further development of Islamic finance in Central Asia will expand financial inclusion and connect local businesses to the global Islamic market, contributing to regional economic growth. The Eurasian Development Bank intends to become a platform for the development of Islamic finance in Central Asian countries.
To this end, the Bank is currently working on creating relevant institutional and administrative solutions to develop the Islamic finance industry in its member states, particularly in Central Asia. The Eurasian Development Bank is considering attracting investments, including issuing Ṣukūk, to finance projects in Central Asia,” he said.
Podguzov highly appreciated the cooperation with the Islamic
Development Bank, which provides
its methodological and advisory support in implementing the
principles of Islamic finance in the Eurasian Development Bank’s
operations.
“The Eurasian Development Bank is also undertaking economic studies that are relevant to Central Asia,” he added.