29 Mar, 2023
The Islamic Development Bank Institute (IsDBI) participated in the First Islamic Business and Investment Forum hosted by the Islamic Business and Investment Corporation (IBIC) in Bishkek, Kyrgyz Republic, from 13 – 14 March 2023.
The two-day forum was attended by government officials, representatives from the country’s Chamber of Commerce and Industry, and business leaders from Qatar and Saudi Arabia, among others. The event was organized with the assistance of the Kyrgyz Parliament, the Cabinet of Ministers, JTA International Holding (Qatar), and the Russian-Arab Research and Information Foundation (Saudi Arabia).
The forum provided a platform for socio-economic, cultural, and spiritual interaction between the countries of Central Asia and the Middle East to exchange ideas, investment opportunities, and establish new partnerships. Discussions revolved around Islamic finance, e-commerce, and green investments. The event was an essential step in promoting cooperation between the countries of Central Asia and the Middle East and strengthening economic ties.
The IsDBI was represented in the forum by Dr. Turkhan Ali Abdul Manap, Senior Research Economist. During his remarks at the forum, he emphasized the need for a comprehensive Islamic Finance ecosystem in the Kyrgyz Republic to facilitate the Islamic model of investments. He also discussed the importance of a robust regulatory framework to protect against potential risks and to foster public and investor confidence.
Dr. Abdul Manap provided insights into the intricacies of Islamic finance and its practical applications and responded to queries from the attendees on Islamic finance. He also reiterated the IsDB Institute’s commitment to the development of Islamic finance in the country.
The IsDB has been supporting the development of Islamic Finance in the Kyrgyz Republic through numerous interventions in the areas of banking, Sukuk and Takaful.