The Islamic Development Bank Group is investing more than US$2 billion into projects in Kazakhstan. The IDB also supports three major initiatives of the president of Kazakhstan, particularly, the establishment of an organization on food security of Muslim countries, a project of integration of Islamic infrastructure and the establishment of the Astana International Financial Center, which intends to become the center of Islamic finance in the region.

 

BANDAR BIN MOHAMMED HAJJAR, PRESIDENT, ISLAMIC DEVELOPMENT BANK:

 - In fact, it was a very good meeting for strengthening bilateral relationship between the IDB and government of Kazakhstan in many areas.

 

 

The Islamic Development Bank will start financing innovative projects by scientists of Islamic countries. On its basis, the Foundation for Development of Science, Technology and Innovation was established. 20% share of the foundation’s capitalization belongs to the IDB. In addition, the bank undertakes the creation of the cooperation ecosystem, which should unite efforts of governments, businessmen and scholars of Islamic countries, and allow to realize the most advanced ideas into a ready-made, commercial product.

 

BANDAR BIN MOHAMMED HAJJAR, PRESIDENT, ISLAMIC DEVELOPMENT BANK:

 - First of all, I would like to express my highest gratitude for president of Kazakhstan and government and for people for hosting the first summit on science and technology and also for the warm welcome. 

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