ALGIERS, Algeria, May 20. The Islamic Chamber of Commerce and Development (ICCD) can support Azerbaijan’s private sector in issuing Sukuk bonds, Mohamed Ibrahim, CEO of the Islamic Chamber Holding Company (ICCIA Holding), established by the Islamic Chamber of Commerce and Development, told Trend on the sidelines of the IsDB Annual Meetings in Algiers.
“We can support the private sector in Azerbaijan in issuing Sukuk bonds. We have a very strong knowledge and we have a very qualified team to serve and to provide everything needed by private sector in Azerbaijan as well as OIC countries,” he said.
Ibrahim pointed out that the Islamic finance is a very right way to finance all cash need by the Islamic treatment.
“As the Islamic Chamber of Commerce Development (ICCD), we collaborate with Islamic financial institutions to provide Sharia-compliant financing solutions that meet the cash flow needs of the private sector, in order to help the private sector to find right way of the finance through the Islamic bank or the Islamic treatment.
We have a very successful deal. It's already done in Egypt with a well-known Islamic finance institution, which is Baraka Bank, and with the private sector. It is the Islamic deal worth up to $2 million. This will help the infrastructure in Egypt to move from the traditional ticket for the public transportation to a prepaid card for the public transportation,” he added.