ALGIERS, Algeria, May 20. The Islamic Development Bank Group is committed to supporting the advancement of Islamic finance in Central Asia, reads a message from the Chairman of the Islamic Development Bank Group Dr. Muhammad Al Jasser, published in the joint report the Eurasian Development Bank, the Islamic Bank Institute and the London Stock Exchange Group.
It was presented during the IsDB annual meetings in Algiers, Trend’s special correspondent reports.
“Islamic finance has become an important tool for addressing
economic and social challenges,
contributing to sustainable development and inclusive financial
systems globally. The Central Asian countries, namely the Republic
of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and
Uzbekistan,
are at a crucial stage in developing their financial systems and
economic growth,” he said.
Al Jasser pointed out that with strong cultural traditions and a growing demand for financial options, the region has great potential for the growth of Islamic finance.
“This growth could help financial systems expand and achieve broader socioeconomic objectives. The Islamic Development Bank Group is committed to supporting the advancement of Islamic finance in Central Asia and beyond. Our collaboration with Eurasian Development Bank demonstrates how development banks can work together to create inclusive and resilient financial systems,” said the IsDB Group chairman.
He expressed confidence that Islamic finance will continue to have a significant impact on fostering shared prosperity and contributing to sustainable development in Central Asia.
“We are committed to strengthening our relationships and expanding the positive influence of Islamic finance across this important region,” he added.