On 29th of April 2024, the “Azerbaijan Investment Company” OJSC (AIC) and Islamic Corporation for the Development of the Private Sector (ICD) signed a Memorandum of Understanding during the meeting between the Minister of Economy of Azerbaijan Republic Mr. Mikayil Jabbarov and the the chairman of Islamic Development Bank Group Mr. Muhammad Sulaiman Al Jasser. This strategic partnership marks a significant milestone in the pursuit of cooperating and working closely together to identify investment, financing, advisory services and technical assistance opportunities or transactions of mutual interest to both Parties.

Under the terms of the agreement, the Parties expressed their willingness to collaborate in exploring and identifying investment and financing opportunities. These opportunities are intended to benefit both ICD and AIC mutually, foster financial sustainability, and drive sustainable socio-economic development.

By combining their expertise and resources, the companies aim to create an environment conducive to economic growth, entrepreneurship, and innovation.