Representative of the Islamic bank for development in Yemen: The Bank provided to Yemen $ 500 million since its inception
The Source: Mukalla/Hadramoutinfo/Saba.net - 22/October/2012
Home \
Business News
The representative of the Islamic bank for development in Yemen , the engineer Al-izzi Al-Mansoob that the bank provided to Yemen since its establishment in 1975, interest-free loans worth $ 500 million and an average $ 30 million annually .
He also said in an interview with the International Islamic News Agency (INA) that all sectors of development in Yemen still need the support, considering that Yemen from the least developed countries in the organization of the Islamic Altaan whose membership includes 57 countries.
The representative of the Islamic bank fo development in Yemen, that the country is the second largest state of the member states of the Islamic bank for development to take advantage of funding Islamic institutions for the development of the private sector after Saudi Arabia.
Furthermore ,he stressed that this institution of the Islamic bank for development contributed to the creation of many of the industrial enterprises in Yemen either from scratch or by contributing to the expansion .
Finally , the Islamic Development Bank (IDB) has different styles of funds, all consistent with the teachings of Shariah while commercial banks have one type of financing interest , he added .
|