A major conference on international accounting standards for Islamic finance is being organised in Bahrain in partnership with the World Bank.
Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (
Bahrain’s Ahli United Bank (AUB) said the International Finance Corporation (IFC), the World Bank’s private sector arm, has bought 167 million shares in the lender as part of conversion of its preference shares in the bank to equity.
The World Bank sharply lowered its forecast for India's economic growth to 4.7 percent from 6.1 percent for the current fiscal year, citing a sharp slowdown in manufacturing and investment as well as negative business confidence.
World Bank President Jim Yong Kim said the global development lender must work to halve extreme poverty in the next seven years if it is to reach a more ambitious target set for 2030.
Kim in April set a goal to reduce the number o
The World Bank lowered its 2013 and 2014 economic growth forecasts for China and most of developing East Asia on Monday, citing slower growth in the world's most populous nation as well as weaker commodity prices that have hurt exports and
Bahrain has launched an Energy Efficiency Programme (KEEP) in association with the World Bank aimed at making optimal use of energy in order to maintain resources and support development plans and programmes.
The accord was signed
Global food prices fell by 2 percent in the latest four-month period, marking the third straight period of declines, on declining imports in the Mena region and lower demand, the World Bank said.
Prices were down 12 percent from their A
Iran denied on Sunday it had failed to make payments on its loans to the World Bank for the last six months, blaming Western sanctions for preventing an intermediary from forwarding funds to the global lender, Iran's IRNA state news agency s
Iran has not paid back any of its loans to the World Bank for more than six months, the bank said on Thursday, a further sign of the strains on the sanctions-hit Iranian economy.
Faced with a combination of poor fiscal management
Massive protests in Brazil, Egypt and Turkey should jolt governments across the globe into ensuring they are providing crucial public services and opportunities to their citizens, World Bank President Jim Yong Kim said in an interview.