BAKU, Azerbaijan, September 11. The Eurasian
Development Bank (EDB) and the Islamic Development Bank Institute
(IDB Institute) discussed the possibility of establishing a special
purpose vehicle (SPV) or a regional investment platform to attract
Islamic investment capital to Central Asia.
This was reflected in the statement published by the press
service of EDB, following the meeting between Deputy Chairman of
the Management Board of the EDB Ruslan Dalenov and Acting Director
General of the Islamic Development Bank Institute (IsDBI) Sami
Al-Suwailem on the sidelines of Astana Finance Days 2026.
According to the EDB, in the course of the meeting, the sides
discussed the current cooperation and further steps to implement
joint initiatives aimed at developing Islamic finance in Central
Asian countries. In particular, the sides considered the possible
establishment, with EDB support, of a specialized SPV or regional
investment platform involving national financial institutions from
Central Asian countries.
According to EDB, the platform could potentially use the
financial and legal infrastructure of the Astana International
Financial Centre (AIFC) to attract capital from Islamic investors
and international financial institutions and channel it into
financing small and medium-sized business projects across the
region. "For EDB, the development of Islamic finance is primarily
an opportunity to expand Central Asian countries' access to
international capital markets and diversify sources of project
financing in the region. We see significant potential in this area
and are interested in building a sustainable ecosystem that brings
together international investors, financial institutions and
businesses from Central Asia," Dalenov said.
The sides also noted the potential to expand cooperation in
Islamic finance, including through the development of new financial
mechanisms, attracting international investment and supporting the
development of the region's Islamic finance infrastructure.
