In the capital of Uzbekistan, Tashkent in the framework of the 46th annual meeting of the Board of Directors of the Islamic Development Bank (IBR) between the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank, and the Azergold Closed Joint Stock Company (CJSC) Signed Memorandum of Understanding.
Memorandum Signed CEO ICD Aimin Cezhini and Deputy Chairman of the Board of Azergold High Farzaliyev.
The main purpose of signing a memorandum of understanding is to establish mutual cooperation, studying the possibilities of the issue of Sukuk (Islamic equivalent of bonds) to meet the growing demand of Azergold CJSC on project financing. In addition, under this document, the parties will determine the existing opportunities for cooperation in the implementation of infrastructure projects in Azerbaijan, as well as other potential areas of cooperation associated with Azergold CJSC.
Noting that the Islamic Corporation for the Development of the Private Sector is committed to supporting the development of member countries and will continue to work in this direction, Ayman Amin Cezhini said that the Memorandum signed with Azergold is an example of a high-level plan of the International Organization for Azerbaijani Companies various sources of financing.
Highy Farzaliyev stressed that the signed document is an important step to ensure potential cooperation. He noted that the joint-stock company has successful experience in attracting various financial resources to implement mining projects in the country, at the same time stressed the importance of Azergold international cooperation in this area. He expressed confidence that the upcoming discussions would be useful for determining other potential activities.