Zamir Iqbal: IsDB ready to co-finance projects, support TIF sukuk issuance

The Islamic Development Bank (IsDB) is ready to support the Turkic Investment Fund (TIF) through co-financing opportunities, treasury-related cooperation, and knowledge exchange, IsDB Vice President Zamir Iqbal told a meeting with the TIF delegation headed by President Baghdad Amreyev, as quoted by Report.

The meeting held at the ISDB headquarters discussed areas of potential collaboration between TIF and the IsDB.

During the discussion, Baghdad Amreyev reaffirmed the fund's intention to build a long-term and practical partnership with the IsDB. He pointed to the close alignment between the two institutions' strategic priorities and noted TIF's interest in cooperation covering co-financing projects, treasury and liquidity management, resource mobilization, and institutional capacity building.

The TIF president had noted the importance of formalizing cooperation efforts in the form of an MoU, regular technical engagement, and a collaborative project pipeline, and expressed optimism that closer collaboration would yield concrete results for the member states shared by both institutions.

Vice President of the IsDB, Dr. Zamir Iqbal, conveyed the IsDB's readiness to support the TIF through co-financing opportunities, treasury-related cooperation, and knowledge exchange. In that context, the discussion touched on the possibility of a future liquidity line between the two institutions and potential support for sukuk issuances by TIF when timing allows. He also referred to IsDB's experience with Islamic finance products and principles as relevant input for TIF as it develops its funding framework.

The Igbal noted that IsDB operations remain largely focused on the public sector, accounting for around 90% of total activities. The bank also maintains a dedicated PPP department, with which TIF held separate discussions during the mission, following his suggestion.

The meeting confirmed the mutual interest of both institutions in advancing structured and practical cooperation. The parties also agreed to further explore cooperation in relation to the upcoming IsDB Annual Meetings, scheduled for 16-19 June 2026 in Baku, Azerbaijan.

The Turkic Investment Fund was established on May 18, 2024, by Türkiye, Azerbaijan, Kazakhstan, Kyrgyzstan, and Uzbekistan. The fund aims to support public and private projects in Turkic-speaking countries, attract investment in infrastructure, renewable energy, agriculture, and tourism, and promote sustainable economic growth.