BAKU, Azerbaijan, May 7. The Islamic Development Bank (IsDB) Group is actively working with the Central Bank of Azerbaijan to establish the country's first framework program for sukuk issuance, Elvin Afandi, Manager of the Corporate Strategy and Research Department of the Islamic Corporation for the Development of the Private Sector (ICD), said during a presentation dedicated to the preparations for the Islamic Development Bank Group's Annual Meeting in Baku, Trend reports.
He noted that this will create a foundation for future sukuk issuances at both the sovereign and corporate levels.
"In addition to indirect support for SMEs, we also finance large corporate and infrastructure projects. These are projects that local financial institutions are not always willing to invest in for various reasons, primarily due to the size of the transaction, the complexity of the structure, and the associated risks. In such cases, we step in and directly invest in corporate or large infrastructure projects," he noted.
