Azerbaijan will host an international conference on alternative financing

Azerbaijan will host an international conference on alternative financing

Webinar on "SUKUK - Alternative Financing Mechanism in Azerbaijan" will be held in partnership of The Islamic Corporation for the Development of the Private Sector (ICD) of  the Islamic Development Bank (IDB) and Center for the Analysis of Economic Reforms and Communication (CAERC), Small and Medium Business Development Agency (SMBDA). The conference, which will  be held on October 26, 2021, will focus on the  development of the Islamic financial system on a global scale and the position of this alternative financial mechanism in infrastructure projects and public-private partnerships with the participation of representatives of public, private and international organizations.

The webinar will consist of two session and there will be an opportunity for  questions and answers at the end of each session.  Welcome speech will be delivered by professor Vusal Gasimli, the Executive Director of CAERC,  Ayman Sejini, Chief Executive Director of ICD and Orkhan Mammadov, Chairman of the Management Board of SMBDA. The topic of the first session will be "SUKUK, an alternative financing mechanism in Azerbaijan." The second session will be dedicated to a panel discussion on "Islamic financial system as an alternative financial mechanism for financing infrastructure and public-private partnership projects in Azerbaijan."

Despite the effects of the recent global pandemic and economic downturn, the Islamic financial system is thriving. The constantly developing alternative financing mechanism is applied even in developed countries such as the United States and the European Union countries. UBS, HSBC, City Bank, Lyolds TSD and other world-renowned banks offer this service to their customers through the Islamic window. The Islamic financial system shows   the importance of commercial and financial transactions based on real assets. This is the reason why asset-based transactions are reflected in securities. SUKUK, being one of them, is an Islamic bond.  In general, the total global financial assets of the Islamic financial sector are around $ 2.88 trillion, and this figure is expected to reach $ 3.69 trillion by 2024.

The webinar will serve to promote SUKUK, an alternative financial mechanism, in Azerbaijan.  The possibility of applying SUKUK as an alternative financial mechanism in infrastructure and public-private partnership projects in Azerbaijan will also be discussed.

To attend  the Webinar that will be held on October 26, 2021 at 14:00 , it is possible to register through the link below:

https://idbgbf-org.zoom.us/webinar/register/WN_0gcPTmu3RyeAJ3JcjMbw-g