Sunday 28 August 2016
 
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ITFC plans to expand global reach

The Jeddah-based International Islamic Trade Finance Corp (ITFC) plans to strengthen its global network of offices in an effort to increase the use of sharia-compliant banking in merchandise trade. "We want to be closer to me

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IDB, World Bank produce report on Islamic Finance

The Islamic Development Bank (IDB) Group and the World Bank Group have jointly produced a global report on Islamic finance. Director General of the Islamic Research and Training Institute (IRTI), Prof Mohamed Azmi Omar, announced

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Turkey, IDB plan regional Islamic 'megabank'

Turkey will partner with the Islamic Development Bank to create a regional Islamic finance "megabank", Turkish Deputy Prime Minister Mehmet Simsek said on Wednesday, as part of a government drive to become a powerhouse in Islamic finan

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IDB in $53m deal to provide rural healthcare in India

The Jeddah-based Islamic Development Bank (IDB) has signed a SR200 million ($53.3 million) deal to provide medical care for poor rural people with a non-governmental organisation (NGO) in India, according to a report.  

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Tunisia, IDB sign funding for $200m power plant

Tunisia and the Islamic Development Bank (IDB) have signed an agreement to fund the gas turbine power plant in Mornaguia with a budget of $200 million, a report said. The project with a cost of $309 million to be granted to the Tu

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Iran wins $95m IDB funding for dam project

Iran has secured €87-million ($95 million) finance from Islamic Development Bank (IDB) for the construction of Sarney dam near the city of Minab in the southern province of Hormozgan,said a report. The funding will be used fo

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IDB agrees $593m funding for four nations

Saudi Arabia-based Islamic Development Bank has approved $593 million in funding for development projects in Kazakhstan, Gabon, Benin and Turkey, the bank said in a statement on Tuesday. It also agreed to provide a grant to study

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Iraq to seek up to $500m in loans from IDB

Iraq will seek up to $500 million in loans from the Jeddah-based Islamic Development Bank (IDB) to help cover its projected deficit, complementing the country's return to the international debt market, according to the bond's prospectu

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$48m loan to redevelop homes in Bahrain approved

A $48-million loan for Bahrain from the Islamic Development Bank was approved by the Shura Council yesterday (July 5), despite members expressing concern that the total cost of repaying it could reach $70 million. The money will b

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$48m loan to redevelop homes in Bahrain approved

A $48-million loan for Bahrain from the Islamic Development Bank was approved by the Shura Council yesterday (July 5), despite members expressing concern that the total cost of repaying it could reach $70 million. The money will b

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