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Islamic Development Bank to create leasing company in Kazan

May 02, 2012, 17:20 UTC+3

A major stand of Tatarstan called “Invest in Tatarstan” is working at the Dubai investment forum

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KAZAN, May 2 (Itar-Tass) — The Islamic Development Bank (IDB) intends to create in Kazan a leasing company. The corresponding agreement was reached between the Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector (ICD) under the IDB, Khaled Mohammed Al-Aboodi, and President of Tatarstan Rustam Minnikhanov that take part in the AIM 2012 investment forum in Dubai, the press service of the republic’s head told Itar-Tass on Wednesday.

“Khaled Mohammed Al-Aboodi also offered the Tatarstan leadership assistance in the borrowing of funds on the Islamic finance market,” the press service said.

The IDB’s principal office is in Jeddah in the Kingdom of Saudi Arabia. Four regional offices were opened in Rabat, Morocco (1994), Kuala Lumpur, Malaysia (1994), in Almaty, Kazakhstan (1997), and Dakar, Senegal (2008). The Bank also has field representatives in twelve member countries. These are: Afghanistan, Azerbaijan, Bangladesh, Guinea Conakry, Indonesia, Iran, Nigeria, Pakistan, Sierra Leone, Sudan, Uzbekistan and Yemen.

When visiting the Dubai Chamber of Commerce and Industry (DCCI) at a meeting with DCCI head Hamad M. Buamim, Minnikhanov proposed to send to the DCCI a delegation of Tatarstan’s specialists for the study of the advanced experience of the United Arab Emirates (UAE) in the introduction of the electronic government systems.

The president of Tatarstan also held a substantive meeting with the leadership of Tecom Investments – a world leader in the sphere of management of economic zones and technological parks. It implements the Smart City projects in India, Malta and plans to make considerable investments in Tatarstan.

Minnikhanov said that a meeting with the leadership of Kele Contracting that participated in the construction of Olympic facilities in Sydney was “very important.” According to Minnikhanov, Tatarstan is interested in cooperation with Kele Contracting in the run-up to such large-scale events in Tatarstan as the 2015 World Aquatics Championships and Kazan's participation in the 2018 FIFA World Cup.

A major stand of Tatarstan called “Invest in Tatarstan” is working at the Dubai investment forum.


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