BAKU, Azerbaijan, June 17. Islamic Development
Bank (IsDB) Group supports investment and trade development in the
member countries, IsDB Group Chairman, Mohammed Sulaiman Al Jasser,
said at the opening ceremony of Private Sector Forum 2026 in the
second day of the Annual Meeting of the IsDB Group in Baku,
Trend's
correspondent reports from the event.
He expressed his gratitude to the government and people of
Azerbaijan for the warm hospitality extended to the Islamic
Development Bank Group Annual Meetings for 2026 and for the
excellent organization of the event.
"On this occasion, I would also like to express my gratitude to
the Ministry of Economy and AZPROMO for their valuable partnership,
close cooperation, and tireless efforts to successfully hold the
Private Sector Forum," he stressed.
Al Jasser noted that the Private Sector Forum is not just an
annual event, but a vibrant platform where dialogue turns into
concrete directions, ideas into investments, and partnerships turn
from promises into real action.
"This is a place where governments and markets, entrepreneurs
and financial institutions, ambitions and opportunities come
together. As the IsDB Group, we believe that inclusive economic
growth is ensured not only by politics, but also by
entrepreneurship, not only by state efforts, but also by private
initiatives, not only by financing, but also by trust and
partnerships," he said.
The head of the IsDB Group emphasized that the relevant
organizations of the organization continue their activities in the
direction of mobilizing investments, promoting trade, and
strengthening economic stability in member countries.
According to him, the institutions included in the IDB Group
contribute to the transformation of potential into real development
by providing tools for financing, risk reduction, insurance, and
trade facilitation.
Al Jasser said that since its inception in 1994, the Islamic
Corporation for Investment and Export Credit Insurance (ICIEC) has
insured more than $139 billion in trade and investment flows in 51
member countries. Of this amount, about $57 billion accounts for
transactions between the member countries.
"In 2025 alone, ICIEC expanded access to financial resources for
nearly 6,000 small and medium-sized enterprises, contributed to
supporting more than 294,000 jobs, and facilitated the provision of
essential goods and services worth nearly $890 million in food
security, energy, health, and other strategic areas," he added.
He noted that since its inception, the Islamic Corporation for
the Development of the Private Sector (ICD) has financed more than
450 projects in 41 countries, with approved financing exceeding
$7.1 billion.
"These projects have supported the main pillars of economic
diversification and sustainable development, covering financial
institutions, small and medium-sized enterprises, industry, mining,
energy, and transport sectors," Al-Jasir stressed.
The chairman of the IsDB Group added that the International
Islamic Trade Finance Corporation (ITFC) has provided trade finance
worth about $20 billion since its inception.
"A significant portion of these funds has been channeled to
support small and medium-sized enterprises through local and
regional banks. The corporation has also implemented technical
assistance programs to strengthen export potential and deepen trade
among member countries," he added.
