EDB, IsDB Institute step up efforts to attract Islamic capital to Central Asia
The Eurasian Development Bank (EDB) and the Islamic Development Bank Institute (IsDB Institute) have discussed expanding cooperation on Islamic finance initiatives in Central Asia, Qazinform News Agency cites the press service of EDB.
EDB Deputy Chairman of the Management Board Ruslan Dalenov met with IsDB Institute Director General Sami Al-Suwailem in Astana on the sidelines of Astana Finance Days 2026.
The sides reviewed the current state of cooperation and discussed next steps for implementing joint EDB-IsDB Institute projects aimed at advancing Islamic finance across Central Asian countries.
Particular attention was given to potential mechanisms for attracting Islamic investment capital to the region. The sides discussed the possible establishment, with EDB support, of a specialized special purpose vehicle (SPV) or regional investment platform involving national financial institutions from Central Asian countries.
The proposed platform could make use of the financial and legal infrastructure of the Astana International Financial Centre (AIFC). This could create a mechanism for attracting capital from Islamic investors and international financial institutions and subsequently channeling it into financing small and medium-sized business projects across the region.
“For EDB, the development of Islamic finance is, above all, an opportunity to expand Central Asian countries’ access to international capital markets and diversify sources of financing for projects in the region. We see significant potential for developing this area and are interested in building a sustainable ecosystem that will bring together international investors, financial institutions and businesses from Central Asia,” said EDB Deputy Chairman of the Management Board Ruslan Dalenov.
The sides noted significant potential for expanding cooperation in Islamic finance, including the development of new financial mechanisms, attracting international investment, and supporting the development of the region’s Islamic finance infrastructure.
EDB and the IsDB Institute will continue working together to explore promising initiatives and financial instruments aimed at expanding businesses’ access to Islamic financing across Central Asia.
Earlier, Qazinform reported EDB investments reached 5.2 billion US dollars in Kazakhstan.