16.11.2011, Jeddah, KSA – Chairman of the Republic of Tajikistan’s central bank, the National Bank of Tajikistan and IDB Alternate Governor, Mr. Sharif Rahimzoda and Dr. Ahmad Mohamed Ali, President, IDB Group, on Tuesday signed a Technical Assistance agreement on developing legal, regulatory, and supervisory frameworks required for Islamic banking in the Central Asian country.
The signing came during a visit by a high ranking delegation headed by Tajik Deputy Prime Minister, H.E. Murodali Alimardon who thanked IDB for its active participation in development of his country particularly in power generation and transportation while expressing his country’s willingness to boost cooperation with the IDB Group in the fields of irrigation, infrastructure, rural development, agriculture, power generation, trade financing, food security and micro-financing.
At the session, the IDB Group President praised the imminent connection of the power grid networks between Tajikistan and Kirgizstan as a ground breaking idea and hoped other IDB member countries in Central Asia, the GCC and the Arab World would follow suit. He further expressed pleasure over the smooth implementation of the 9 IDB Group projects currently underway in Tajikistan and called for proceedings to take place for enhancement of private sector investment in the Republic of Tajikistan through further involvement of elite businessmen.
Tajikistan joined the IDB in November 1996 and the Bank has to date allocated US$ 500 million of development financings to the Central Asian country.