Azerbaijan to examine future membership in Islamic Trade and Financial Corporation

Business Materials 2 June 2006 18:48 (UTC +04:00)

Azeri government is eager to consider joining the international Islamic Trade and Financial Corporation (ITFC), Trend reports referring to the Ministry of Finance. ITFC was established by Islamic Development Bank May 30, 2006 in Kuwait at annual session of banks board.

The Ministry officials said this decision will be made upon examining the corporation membership agreement.

ITFCs own capital amounts 3bn Islamic dinars, with 51% stock belonging to IDB. The corps main objective is financing trade operations.

Islamic Development Bank today unites 56 countries.