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Saturday, October 20th, 2018

Islamic finance and infrastructure fund: Bakytzhan Sagintayev meets with leadership of Islamic Development Bank and Oppenheimer

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In the course of the meetings, issues of further cooperation in terms of financing for investment projects in Kazakhstan as well as expanding opportunities of international business were considered.

At the meeting with President of Islamic Development Bank Dr. Bandar Mohamed Hamza Hajjar, prospects for deeper cooperation in the priority sectors of the economy, including agriculture, infrastructure projects, as well as development of science and technologies were considered.

The participants of the meeting noted that the launch of a representative office of the International Islamic Trade Finance Corporation on the basis of the AIFC in Astana will influence the expansion of cooperation between Kazakhstan and IDB.

Dr. Bandar Mohamed Hamza Hajjar informed that the joining the Corporation will contribute to the promotion of Kazakhstan’s national export and mutual trade, as well as open the access to new instruments and stable financial resources and markets of the member states of Organization of Islamic Cooperation. In addition, the joining will allow Kazakhstan to acquire an important experience of mutual trade with the Organization’s member countries, as well as to apply the gained experience and the Corporation’s technologies for the development of exports of finished products.

At the meeting with the Director of Oppenheimer Fund John Tonelli, the company’s participation in the privatization of the Samruk-Kazyna Sovereign Wealth Fund, the creation of an infrastructure fund, and the emerging of Kazakh companies in the foreign capital markets were discussed.

Source: The Prime Minister of Kazakhstan

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