Bishkek, Feb. 14, 2024. /Kabar/. President of Kyrgyzstan Sadyr Zhaparov met with Chairman of the Dubai Islamic Bank, Muhammad Al-Shaibani as part of his working visit to the UAE.
According to the press service of the Kyrgyz president, issues of joint implementation of large investment projects, as well as the development of banking services based on the principles of Islamic finance, were discussed.
The president noted that Kyrgyzstan is interested in opening a full-fledged financial institution that operates in strict accordance with Shariah norms.
Sadyr Zhaparov emphasized that for these purposes the republic already has a legal framework and great interest in such financial services. He also added that Islamic banking in Kyrgyzstan is at the initial stage of its development, and therefore the experience of the Dubai Islamic Bank, which was opened in 1975, would be an important contribution to improving Islamic finance services.
The Chairman of the Dubai Islamic Bank, Muhammad Al-Shaibani, emphasized with satisfaction the importance of the projects outlined by Sadyr Zhaparov, and announced his intention to send a working group from among the bank’s representatives to Kyrgyzstan to study priority areas of mutually beneficial cooperation. During the conversation, he also expressed interest in implementing joint projects in the field of tourism.
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