EDB to develop Islamic Finance in Central Asia
On the sidelines of the Annual Meeting of the Islamic Development Bank Group, representatives of the Eurasian Development Bank (EDB) noted the high potential of Islamic finance in Central Asian countries. In this regard, it was announced its intention to comprehensively promote the development of this area in the region.
"The EDB aims to develop the Islamic finance industry and opens a specialized Islamic finance unit in the structure of the bank. This is dictated by the fact that the demand for Islamic financing instruments is increasing in Central Asia," said Nikolai Podguzov, Chairman of the EDB Board.
Among the topics that were also discussed during the meeting was the possibility of conducting joint economic research on topical issues for the Central Asian region in order to find solutions to economic challenges.
"Our further cooperation both within the framework of individual projects and in strategic terms will have a synergistic effect on the way to improving the economic well—being of the region," concluded the head of the EDB.
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