African News

Nigeria to Host Islamic Development Bank Group Business Forum

9 March 2012 at 04:48 | 680 views

Under the Patronage of the H.E. Goodluck Jonathan GCFR, President of the Federal Republic of Nigeria, the Islamic Development Bank (IsDB) Group, based in Jeddah, Saudi Arabia, willbe holding a two day business forum under the title "IsDB Group-Nigeria Business Forum" in cooperation with the Federal Ministry of Finance of Nigeria and the Nigerian NationalInvestment Promotion Commission (NIPC).

The objective of the Business Forum, scheduled to be held during the period from 15-16 March 2012, at the Transcorp Hilton Hotel, Abuja, is to sensitize the Nigerian public and highlight the products and services being offered by the IsDB Group, including eligibility criteria, modes of financing, terms and conditions of financing, procurement, and other operational matters.

Islamic Banking and Development finance is the latest global innovative trend providing additional as well as alternative source of international business funds.Leading the IsDB delegation to Nigeria is HE Dr Ahmad Mohamed Ali (photo), President, Islamic Development Bank Group. Other members of his delegation includes HE Dr Birama B. Sidibe,Vice President (Operations), Dr. Abdel Rahman Taha, CEO, Islamic Corporation for the Insurance of Investment & Export Credit (ICIEC), Khaled Al-Aboodi, CEO, Islamic Corporation for the Development of the Private Sector (ICD) and Dr. Waleed Al-Wohaib, CEO,International Islamic Trade Finance Corporation (ITFC).

The Islamic Development Bank (IsDB) is an international development financing institution,established in 1975, to foster economic development and social progress in member countries and for Muslim communities in non-member countries. IsDB provides assistance through products and services that are based on Islamic Principles.

The IDB membership stands at 56 countries, when IsDB welcomed Nigeria as its 56th member country. As a Group, IsDB now offers a range of specialized, complementary and integrated services and activities to support the socio-economic development of its member countries.

These include public and private sector project financing; technical assistance for project preparation and capacity building; trade financing and facilitation; technical cooperation;scholarships and special assistance for Muslim communities in non-member countries; and assistance to member countries affected by natural disasters.The IsDB serves the member countries from its Headquarters in Jeddah, and four regional offices in Rabat (Morocco), Kuala Lumpur (Malaysia), Almaty (Kazakhstan) and Dakar(Senegal).