Eurasian Development Bank plans to develop Islamic financial products

The Eurasian Development Bank (EDB) plans to develop Islamic financial products, Nikolai Podguzov, chairman of the EDB Management Board, said at the bank's final press conference for 2025, Report informs.

Podguzov recalled that the bank previously opened a representative office in the United Arab Emirates.

"The opening of the representative office will ensure strategic access to the capital markets of the GCC countries, Asia, and Africa, diversify funding sources with a focus on an annual inflow of up to $500 million from the Persian Gulf region, develop Islamic financial products, and provide specialized support to the bank's clients and partners, create a direct channel of interaction to strengthen relations with regulators, government agencies, and investors, and increase EDB brand awareness and strengthen its position in the global financial community," the chairman emphasized.