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The Ministry of Labor of the Kyrgyz Republic and the Islamic Charitable Foundation signed a memorandum

As part of a charity event, representatives of the KIBI Corporation visited the only Nursing Home in Bishkek and provided humanitarian assistance by transferring a gift in the form of two rams.



Chairman of the Board of Directors of the Corporation Rustam Abduvalievich Yusupov, Honorary Chairman of the Islamic Charitable Foundation "Iman" Sheikh Saleh Al-Maziad and President of the Islamic Development Fund of Central Asia (IDFCA) Murad Sekakmia talked with representatives of the Bishkek Nursing Home and in a friendly atmosphere passed on their gift to the elderly living there .



During the meeting with the director of the center and his deputy, it was decided to continue cooperation and coordination of the activities of the Nursing Home with the IBIC Corporation and the Iman Islamic Charitable Foundation for continued support and assistance.



The delegation visited the elderly and gave sums of money (zakat). It should be noted that in total there are 227 elderly people in the nursing home.

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Adopted on March 13, 2023 in Bishkek We, participants of the First Bishkek Forum, are participants

of the Round Table "Opportunities and Prospects for the Development of Islamic business and Investment" of the Kyrgyz Republic


"Islamic Business and Investments-2023", confirming its interest in the socio-economic development of the country Central Asia,emphasizing that the accumulated centuries-old experience

The principles of conducting entrepreneurial activity and the Islamic financial system deserve to be widely applied, appealing to all interested parties, as well as to the legislative and executive authorities of the Central Asian countries, we consider it extremely expedient and urge:


1. To develop and adopt the Laws that are urgently needed today: "On the foundations of the Waqf", "On the implementation of partner financing activities", and "On organizations engaged in partner financing Activities (OPF)". Partner financing will in no way restrict the constitutional rights and freedoms of citizens.

2. Make the necessary amendments and additions to the existing Laws: "On Investments", "On charitable activities" and "On insurance according to Islamic principles – Takaful".

3. Under the Ministry of Economy and Commerce of the Kyrgyz Republic to create an "International Advisory Council on Islamic Business and Investment (ICSBI)", which will monitor and develop recommendations on creating favorable conditions for attracting investment and innovative economic development, as well as promote the introduction and effective use of Islamic principles in the implementation of Islamic investment projects in various fields the vital activity of our countries.

4. With the participation of interested countries and international organizations, create an "International Islamic Development Fund" to support and develop the economies of Central Asia and the Middle East.

5. To contribute in every possible way to the creation of "Halal certification centers" in Central Asia, for which to summarize experience and conclude Memoranda on the exchange of experience and close cooperation with successfully operating Halal centers of Arab countries, as well as to contribute to the formation of a favorable environment for international trade in goods and products that have passed Halal certification.

6. Create centers in Central Asian countries for training specialists in Sharia law, Halal standards and doing business according to Islamic principles.

7. With the participation of Arab banks and local shareholders to create an "Islamic Investment Bank" in Kyrgyzstan, and subsequently in all countries of Central Asia. This bank should work exclusively according to Islamic principles.

8. To create an international Kyrgyz-Saudi Business Council (CSDC), which will integrate and expand business ties between entrepreneurs of the Kingdom of Saudi Arabia and the Kyrgyz Republic.

9. To hold annual exhibitions of Islamic investments and trade in the Kyrgyz Republic in cooperation with the Arab-Turkish Trade Organization for the development of business exchange in various fields between Islamic countries and Central Asia (trade, industry, agriculture, tourism).

10. To support the practical implementation of socio-economic, charitable and investment projects presented at the Forum on Islamic principles.

11. Take additional measures at the state level to facilitate visa regimes with Arab countries for entrepreneurs of Central Asian countries.

12. To hold an annual "Islamic Business and Investment Forum" with the participation of all interested parties. Preparations for the next IBIF-2024 Forum should begin now, for which, at the first stage, an Organizing Committee-2024 should be formed, which should include representatives of the Middle East, Central Asia and the authorities of the participating countries.


The Ministry of Labor of the Kyrgyz Republic and the Islamic Charitable Foundation signed a memorandum

Following the results of the first Islamic investment forum IBIF 2023, which is taking place in Bishkek, a memorandum of cooperation was signed between the Ministry of Labour, Social Security and Migration and the NGO "Islamic Charitable Foundation" Iman ".

The memorandum was signed to establish partnerships and develop long-term, effective and mutually beneficial cooperation between the parties aimed at achieving joint goals, the main of which are the organization of charity, the provision of humanitarian assistance and assistance to socially vulnerable segments of the population of Kyrgyzstan.

Minister of Labour, Social Security and Migration Kudaibergen Bazarbayev and President of the NGO “Islamic Charitable Foundation “Iman” Murad Sekakmiya took part in the signing of the document.



IBIF-2023: a great start to promote the Islamic financial industry in Kyrgyzstan

The first Islamic Business and Investment Forum in Central Asia, held on March 13 and 14 in Bishkek, was a great success, bringing together business representatives and investors from the Middle East interested in developing and promoting finance and investment according to Islamic principles.


The event was regarded as an important milestone in the promotion of Islamic financial instruments in the region. The forum is expected to attract more investment, promote economic growth and present new opportunities for Islamic financial businesses and investors in Kyrgyzstan, as well as provide an opportunity for the development of various sectors of the economy.



Participation of the (IDFCA) delegation in the 18th Turkish-Arab Economic Cooperation Forum (Turab Expo) in Istanbul, Turkey

On 23rd-25th November 2022, IDFCA representatives participated in the 18th Turkish-Arab Economic Cooperation Forum (Turab Expo) in Istanbul, Turkey. More than 260 delegations from the Middle East, Europe, and Central Asia took part in the Forum.
There were also separate business meetings with representatives of Turkey, Iran, and the UAE in Istanbul. It was agreed on further cooperation and implementation of joint investment projects in 2023-2024. 
The work on the promotion of IDFCA investment projects continues.


Distinguished meetings with Dr. Faisal Saadi Benjaber, Director of the Department of Office and International Relations at the General Secretariat of the World Assembly of Muslim Youth, Dr. Nasser Hammad Al -Jaidi, CEO of "Global Strategic Economic Alliance"

On 21st-22nd November 2022, members of the IDFCA delegation held very essential and informative meetings with Dr. Nasser H. Al Hammad Al Jaidi, CEO of "Jadeer Strategic Global Alliance", Dr. Saleh Al-Suhaybani, owner of the healthy diet Magnesia Trading Company.

The meeting also took place with Dr. Fisal Saadi A. Benjaber, Head of World Assembly of Muslim Youth. There were reached agreements to continue and expand cooperation in such areas as construction, energy, and tourism.

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O mankind, indeed We have created you from male and female and made you peoples and tribes that you may know one another.... (49:13 Quran) 

On the 3rd of November 2022, our Fund's delegation, with its President Yusupov's R.A. headship, held a meeting with the Ambassador of Saudi Arabia ambassador in Kyrgyzstan, Mr.Ibrahim bin Radi bin Abdurahman Al-Radi. The long and warm meeting lasted more than one hour. Additionally, the issues of close cooperation between the entrepreneurs of Kyrgyzstan and KSA and the exchange of delegations were discussed.On goodbye, Mr.Ambassador stated: "We are very pleased with our acquaintance; we appreciate your action efforts and ask you to come to us as frequently as possible to fill our cooperation between our countries with effective joint projects."



Meeting with officials of the Saudi Islamic Bank "Al-Inma"

On 21.11.2022, Members of the IDFCA delegation met with Yasser Abdulaziz Al Marshde, General Secretary of the "Al-Inma" Bank Shariah Committee. 
During a lengthy and informative dialogue, the willingness of both sidesto cooperate in expanding Islamic finance opportunities for the development of the economy and society was emphasized. It was also related to the strengthening ties between the people of Kyrgyzstan and the Kingdom of Saudi Arabia.

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A delegation of IDFCA (Islamic Development Fund for Central Asia) led by Rustam Abduvalievich Yusupov, , visited the Kingdom of Saudi Arabia on November 18-25, 2022.

The business trip consisted of meetings with heads of local companies, funds, banks, and public organizations, as well as with potential investors from KSA. IDFCA reached several agreements on joint perspective plans.
Dr. Majid bin Abdulaziz bin Nasser Al Turki, who heads the International Foundation for Russian-Arab Studies and Information, made an enormous contribution to the success and efficiency of the trip. By God's will, with him, the first Memorandum of Cooperation was signed between the Islamic Foundation for Development of Central Asia (IDFCA) and the Saudi Foundation for Russian-Arab Studies and Information.



Cooperation for the Benefit of Humanity

Recently in Bishkek, at the headquarters of the Islamic Financial Cooperative, a long-term memorandum of cooperation was signed between three institutions: the Islamic Financial Co-operative, Islamic Development Fund of Central Asia and the International Holding Company "JTA KG". The memorandum includes a number of items of cooperation in the field of guarantee and effective promotion of new financing instruments in Kyrgyzstan. 
You can follow the memorandum signing ceremony on the Islamic Financial Cooperative YouTube channel:



We cannot make good news out of bad practice.
(Edward R. Murrow)

Our Fund was admitted to the Chamber of Commerce and Industry members of the Kyrgyz Republic. The president of the Chamber, Sharshekeev M.D., handed over Certificate #1297 dated 19.10.2022 to the President of IDFCA Fund Yusupov R.A. and wished us further success in our work.

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