EDB and IsDB Institute Discuss Development of Joint Initiatives in Islamic Finance
Ruslan Dalenov, Deputy Chairman of the Management Board of the Eurasian Development Bank (EDB), met with Dr. Sami Al-Suwailem, Director General of the Islamic Development Bank Institute (IsDB Institute), in Astana on the sidelines of Astana Finance Days 2026.
The parties discussed the current status of cooperation and further steps to implement joint projects of the EDB and the IsDB Institute aimed at developing Islamic finance in Central Asian countries.
The discussion also focused on potential mechanisms for mobilising Islamic investment capital in the region. In particular, the parties discussed approaches to the possible establishment, with the support of the EDB, of a specialised structure (SPV) or a regional investment platform involving national financial institutions from Central Asian countries.
The proposed platform could leverage the financial and legal infrastructure of the Astana International Financial Centre (AIFC). This would provide a mechanism for attracting capital from Islamic investors and international financial institutions and subsequently directing it towards financing small and medium-sized business across the region.
“For the EDB, the development of Islamic finance is, first and foremost, 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 brings together international investors, financial institutions and businesses across Central Asia,” said Ruslan Dalenov, Deputy Chairman of the Management Board of the EDB.
The parties noted significant potential for expanding cooperation in Islamic finance, including the development of new financial mechanisms, the mobilisation of international investment, and support for the development of the relevant financial infrastructure for Islamic finance in Central Asia.
The EDB and the IsDB Institute will continue working together to explore promising initiatives and instruments that can help expand businesses’ access to Islamic finance across the region.
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the EDB has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of June 2026, the EDB’s cumulative portfolio comprised 348 projects with a total investment of US$22.1 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
EDB Media Centre
+7 (727) 244 40 44, ext. 4774 and 2160