From April 26 to 29, the management of Development Bank of Kazakhstan JSC (a subsidiary of «Baiterek» NMH JSC), as part of the Kazakh delegation headed by Deputy Prime Minister - Minister of National Economy Nurlan Baybazarov, took part in the anniversary annual meeting of the Islamic Development Bank in Riyadh. A number of DBK bilateral meetings with financial institutions from the Middle East countries were also held at this venue.
«Participation in the work of such large sites helps us strengthen ties with our foreign partners, discuss prospects for cooperation to financially support Kazakhstani projects and export our products to foreign markets. All this creates additional value for the economy in the long term», comments Marat Yelibayev, Chairman of the Management Board of the DBK.
The delegation held meetings with the leadership of the Islamic Development Bank Group, the Islamic Investment and Export Credit Insurance Corporation, the International Islamic Trade and Finance Corporation, the Abu Dhabi Development Fund and the Saudi Fund for Development (SFD). Additionally, the DBK management held bilateral meetings with representatives of such financial institutions as Al Rahji Bank and Banque Saudi Fransi, as well as the Kuwait Fund for Economic Development and the OPEC Fund for International Development.
The result of these meetings was to give a new impetus to the development of business relations with financial institutions in the Middle East, which in the long term will allow the Bank to diversify the geography of its borrowing portfolio and help expand the list of financial instruments used. Moreover, the establishment of strategic partnerships with these institutions significantly facilitates the exchange of experience, knowledge and the latest technological achievements in the financial sector.
