IslamicFinance.de

The Islamic Corporation for the Development of the Private Sector (ICD) and OJSC Agroinvestbank of the Republic of Tajikistan have signed a memorandum of understanding for cooperation to consider extension of a line of financing facility to OJSC Agroinvestbank as part of the country program allocation of $25 million for Tajikistan. The line of financing facility will be extended by OJSC Agroinvestbank to the SMEs sector to project’s in industrial, communication, technology, health, construction and agricultural sectors. Khaled Al-Aboodi, CEO and general manager of ICD, said the SME sector is important in all the member countries, including the higher income ones. ICD is now focusing on this sector by extending lines of finance to local banks in addition to the establishment of ASR Leasing Company in Tajikistan.

Some 2,300 international investors, a 12% increase on the same period 2009, have already signed up for the 21st edition of MIPIM (Cannes from March 16-19), as executives report improved confidence in the real estate market and economic recovery opens the door to new investment opportunities. Other major investment topics on the conference agenda include the presentation by Khaled Al-Aboodi, CEO of the Islamic Corporation for the Development of the Private Sector (Saudi Arabia), who will talk about Islamic finance.