Azerbaijan and Islamic Bank of Development Discuss Prospects of Corporation
Azerbaijan, Baku, 9 June / Trend / Azerbaijan and Islamic Development Bank (IDB) have discussed the prospects of enhancing corporation, the Ministry of Economic Development of Azerbaijan said on 9 June.
Last week, the meeting of the Board of Executives of IDB was held in Saudi Arabia. Azerbaijan was represented by the economic development minister Heydar Babayev who is the executive from Azerbaijan.
The further spheres of corporation of the organization included in IDB - Islamic Unity Fund, Islamic Trade and Financial Corporation and Islamic Corporation on Insurance of the Export Credits was discussed in the meeting.
Hamadan Tagaymuradov (citizen of Tajikistan) has been elected managing director of D group of IDB which coves Central Asia, Albania and Azerbaijan.
The meeting also decided to hold 35th meeting in 2010 in Baku.
Ahmad Muhammad Ali, the president of IDB is expected to pay a visit Baku on 12 June during which he is also expected to take part in the international conference organized by the Caspian Investment Company (CIC) founded by the Azerbaijani Investment Company and Islamic Corporation for Development of Private Sector (division of IDB).