IslamicFinance.de

The head of National Bank of Kyrgyzstan Tolkunbek Abdygulov and the president of the Islamic Development Bank (IDB) Ahmad Mohamed Ali Al-Madani had discussed the prospects of jointly opening an Islamic bank in Kyrgyzstan.
Additionally, they had talked about the other relevant things such as the perspectives of Kyrgyz Republic economy development, the establishment of a joint Shariyah compliant commercial bank and the possibility of opening an IDB representative office in Kyrgyzstan. The discussion took place during the International Financial conference “Islamic Finance: Meeting Global Aspirations” in Kuwait, on November 11, 2015.

Tolkunbek Abdygulov also had a meeting with Christine Lagarde, the Managing director of the International Monetary Fund, in which they discussed further course of cooperation between Kyrgyzstan and the IMF and drew a plan on joint actions during the financial crisis. Ms Lagarde also noted the concerted actions of Kyrgyztan’s National Bank and the government on monetary and fiscal policies.

The Islamic Development Bank (IDB) will set up its country office in Dhaka, Bangladesh soon, according to its President Ahmad Mohamed Ali Al-Madani. Foreign Minister of Bangladesh, Dipu Moni, expressed satisfaction at the progress made with the Member Country Partnership Strategy (MCPS) for 2013-16 covering a number of important infrastructural, agricultural and human development projects. She also hoped that IDB would support several projects in the country. The IDB President assured of growing cooperation in power generation, including rural electrification and renewable energy use. He also shared his optimism about Bangladesh’s development pursuits to become a middle income country by 2021.