GLOBAL: Turkic Investment Fund (TIF) has signed an Islamic co-financing agreement with the Islamic Corporation for the Development of the Private Sector (ICD), officially operationalizing the new Managed Islamic Co-Financing Program. Under the program, TIF will deploy up to US$50 million into SMEs alongside the ICD across common member states, namely Azerbaijan, Kazakhstan, Kyrgyzstan, Turkiye and Uzbekistan.
"This partnership gives us an immediate, credible channel to support private enterprise across our member states while we continue building our own institutional capabilities," Ramil Babayev, the general-director of the fund, said.
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