The Islamic Development Bank is ready to consider the possibility of participating in the promotion of the Islamic Bank of Kyrgyzstan. The head of the regional office of the IDB, Ibrahim Shoukry, said during an online meeting with the Deputy Prime Minister of Kyrgyzstan Ravshan Sabirov.
Ravshan Sabirov noted that the Islamic Development Bank is a strategic partner of the Kyrgyz Republic, providing significant support to the country in many key development issues. The Deputy Prime Minister expressed special gratitude to the bank for its assistance in the implementation of measures to combat coronavirus infection.
In turn, Ibrahim Shoukry said that the financial institution plans to continue fruitful cooperation with the leadership of the republic in the implementation of joint projects.
«Ravshan Sabirov invited the Islamic Development Bank to take an active part in the program «Financing of Business Entities.» The idea found understanding and support from the financial institution,» the statement says.
The idea of creating an Islamic bank in Kyrgyzstan has been discussed for more than three years. Amendments have been made to the legislation for this, negotiations are underway with international institutions. However, there is no exact date for the possible opening of the country’s first bank that operates according to Islamic principles of financing only.
