ICD and Alat Free Economic Zone Authority sign MoU

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IsDB), and the Alat Free Economic Zone Authority (AFEZA) of the Republic of Azerbaijan have signed a Memorandum of Understanding (“MoU”), Report informs, citing The Guardian.

The MoU was signed by Mr. Ayman Amin Sejiny, CEO of ICD, and Mr. Valeh Alasgarov, Chairman of the Board of Directors, AFEZA.

The MoU aims to explore the possibility of providing diversified sources of funding to meet the growing demand of companies registered at AFEZ. Additionally, both parties will explore the possibility of organizing joint activities to promote AFEZA as a Free Economic Zone for ICD member countries.