ICD Eyes Cooperation With Rysgal Bank

BUSINESS TURKMENISTAN
ICD Eyes Cooperation With Rysgal Bank
Askar Baimuldin noted that the purpose of the ICD is to support economic development and promote private sector development through financing or investment.

Islamic Corporation for the Development of the Private Sector (ICD) is interested in cooperation with the Rysgal Joint-Stock Commercial Bank, ICD representative Askar Baimuldin said during the meeting held at the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) on November 11.

According to the UIET, Baimuldin noted that the purpose of the ICD is to support economic development and promote private sector development through financing or investment. Representatives of ICD named the banking sector as a productive area of interaction and expressed interest in cooperation, particularly with Rysgal JSCB.

During the meeting, the representative of the UIET Suhan Atayev acquainted the guests with the structure, activities and achievements of the Union.

Atayev noted that the Entrepreneurship as the driving force of a market economy receives government support.

During their stay in Turkmenistan, ICD delegation also met with the leadership of the Rysgal bank and visited the production facilities of Ak Harman and Ak Gaya companies.

Since its inception in 1999, ICD, which is part of Islamic Development Bank Group, has approved more than 400 projects, valued at around $6.4 billion. ICD supports a wide array of industries including finance, infrastructure, Agriculture, manufacturing, and oil and gas. ICD investment operations are at work in 51 Member countries.