ICD and Azerbaijan’s AzerGold Sign MoU to Explore Possibility of Project Financing Via Sukuk Issuance

The Islamic Corporation for the Development of the Private Sector (ICD), which is the private sector arm of the Islamic Development Bank (IsDB) Group has signed a Memorandum of Understanding (MoU) with AzerGold Closed Joint-Stock Company, which is a 100% state-owned mining company in Azerbaijan. The MoU was signed during the 46th IsDB Annual Meeting which took place in Tashkent, Uzbekistan on the 2nd of September 2021.

Why it Matters?

The cooperation between the two parties aims to explore the possibility of issuing Sukuk to meet the growing demand for AzerGold’s project financing requirements. In addition, both ICD and AzerGold will explore collaboration activities regarding infrastructure projects in Azerbaijan, and other potential activities...