Kuwait financial house invests first $15,000,000 to project of investment fund creation with AIC

According to Riad Gasimov, deputy chief executive of the Azerbaijan, said that within the first two years the company capital will make up $20,000,000 with AIC share to make up $5,000,000.

"We expect the next session of the AIC Observation Council to consider the allocation of the funds", Gasimov said.

Gasimov said regarding the projects to be financed by the fund that there are numerous perspective projects, yet considering the characteristics of works of Islamic structures, there are projects, which they will not be able to consider.

"We expect that this structures will develop a flexible investment system. The AIC itself may not become a major shareholder, while the new company may invest up to 100% of the project and then sell a part of its share", Gasimov said,

He noted that Islamic financial structures are usually interested in the projects in the sphere of agriculture, infrastructure, logistics, transport. "We will work in these directions with the Kuwait financial house", Gasimov concluded.

/Day.Az/