Tajikistan is promising investment destination

In conjunction with the 38th IDB Annual Meeting, the Dushanbe Business Forum 2013 was organized by the Islamic Corporation for the Development of the Private Sector (ICD), in collaboration with the Islamic Development Bank Group Business Forum (THIQAH) and in association with Tajinvest. The forum took place at the Tajik President’s Residence "Pugus". It was opened by Prime Minister of Tajikistan Oqil Oqilov, the chairman of the State Committee on Investments and State Property Management of Tajikistan, IDB Governor in Tajikistan, Davlatali Saidov and the CEO of the ICD, Khaled-Al Aboodi. The forum showcased Tajikistan as a promising investment destination and focused on the best practices of Islamic banking and leasing and aimed to strengthen the economic ties between the Tajikistan and OIC countries by attracting investment into Tajikistan. Khaled Al-Aboodi said: "The forum represents a unique opportunity to investors, business people and policymakers to network and establish business relations with their counterparts and other leading representatives from the local business community in order to explore together the many investment and trade possibilities that the country offers." He added: "This forum intends to present to the Tajikistan business community ICD’s associated Islamic financial institutions network in the member countries in general and in the CIS in particular. Also, it is an opportunity for the CEOs of the Islamic banks and leasing (Ijara) companies to address key factors around achieving scale through consolidation or merger activity to strengthen their institution and ensure long-term industry stability." As for its outcome, the Dushanbe Business Forum 2013 created linkages and business relations between Tajikistan and the private sector community in OIC and CIS countries, gave opportunity for local participants to discuss business collaboration with potential shareholders and addressed the prospects of developing and introducing Islamic banking and financial tools into the market of CIS countries as a viable model for boosting stable economic growth. ICD is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments, which are in accordance with the principles of Shariah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. Source: ArabNews