TODAY.AZ / Business

Islamic Trade Chamber plans to set up bank

22 June 2006 [08:34] - TODAY.AZ
Establishment of International Development Bank has taken a start at initiative of Islamic Countries' Trade Chamber.

As APA reports, the Chamber chairman Sheikh Saleh ibn Abdullah Kamal said in Baku that the bank will be capable of investing $100bn in the Islamic countries.

He also stated that three companies is now dealing with this work. One of them is studying potential of investing in the Islamic countries, the second is busy with the issue of employees exchange between Islamic countries and the third is getting acquainted with potential of development of tourism in these countries.

"Muslim countries' capital should be directed to Muslim countries, welfare of these countries. In this way Islamic countries can develop and grow powerful," Sheikh said.

He thinks investment exchange should be intensified among Islamic countries.

"We will try to introduce investment climate of Azerbaijan to other Muslim countries. Most Islamic countries don’t have real information about Azerbaijan, they are aware of history of Azerbaijan but don’t know the real situation in Azerbaijan in fact."

URL: http://www.today.az/news/business/27502.html

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