Guyana discusses cooperation with Islamic Development Bank

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From left to right: Ministry of Finance’s Chief Planning Officer, Clyde Roopchand; President of the Islamic Development Bank, Dr. Ahmed Mohammed Ali Al Madani; Minister Dr. Ashni Singh, Acting Governor of the Bank of Guyana Dr. Gobin Ganga and Guyana Ambassador to the United States, Bayney Karran.
From left to right: Ministry of Finance’s Chief Planning Officer, Clyde Roopchand; President of the Islamic Development Bank, Dr. Ahmed Mohammed Ali Al Madani; Minister Dr. Ashni Singh, Acting Governor of the Bank of Guyana Dr. Gobin Ganga and Guyana Ambassador to the United States, Bayney Karran.

[www.inewsguyana.com] – Minister of Finance, Dr. Ashni Singh says Guyana is currently exploring the option of fostering closer cooperation with the Islamic Development Bank, including giving active consideration to the possibility of joining that Bank.

According to a press release from the Finance Ministry, Dr Singh made the revelation after meeting with the leadership of the Bank during a visit to Washington DC at the weekend.

“The Islamic Development Bank aims to foster economic and social progress and is an internationally respected development institution.” Furthermore, Islamic finance is currently attracting more international attention than ever before. In addition, Guyana is already a member of the Organisation of Islamic Cooperation and is home to a large and vibrant Muslim population. It is therefore appropriate that we explore further this option of financial support,” the Minister said.

According to the release, at the meeting Minister Singh and the Bank’s President Dr. Ahmed Mohammed Ali Al Madani, discussed opportunities for closer cooperation between Guyana and the Bank, and the process by which Guyana could eventually become a member.

Minister Singh reaffirmed Guyana’s interest in being able to access concessional financing from the Bank to help fund local projects aimed at further improving Guyana’s physical and social infrastructure and to raise the standard of living for all Guyanese.

The Islamic Development Bank is an international financial institution established in October 1975 with 56 member countries. The Bank participates in equity capital and grant loans to support projects and enterprises in member countries.

The Bank also establishes and operates special funds for specific purposes including a fund for assistance to Muslim communities in non-member countries. The Bank is also charged with the responsibility of assisting in the promotion of foreign trade especially in capital goods, among member countries; providing technical assistance to member countries; and extending training facilities for personnel engaged in development activities in member countries

3 COMMENTS

  1. beware if anyone with the name abu bakr in dis thing..all dem abu bakr are nothing but trouble makers..they come in your country to recruit your poor and less educated to carry out their violent mandate..put security pon dem once u know dem entering your country like Jamaica did that one ..

  2. This world is really a full of two faced teaching and complete deception. This bank is supporting education but yet women in most of the countries they support are being deprived.

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