Dr. Ahmad Mohamed Ali

Islamic Advisory Group supports final push for polio eradication

The Islamic Advisory Group (IAG) for Polio Eradication has adopted a new work plan to end polio in Pakistan and Afghanistan. The announcement came at the third annual IAG meeting held at the Islamic Development Bank’s headquarters in Jeddah. In a statement issued by the meeting, the IAG affirms the religious obligation of parents to vaccinate their children to keep them healthy. According to IAG deputy Dr. Abbas Shouman, the misperceptions usually arise due to fatwas issued by non-specialists who leave children exposed to handicap or death. IDB president Dr. Ahmad Mohamed Ali urged the partner institutions of the IAG to coordinate with WHO to transfer their experience in polio to other emergency and epidemic situations, particularly in Africa.

World Bank and IDB sign Islamic finance deal

A Memorandum of Understanding (MoU) has been signed by the World Bank and the Islamic Development Bank (IDB). It will provide a framework for collaboration between the two parties and support global, regional and country efforts in the development of Islamic Finance. The common objectives of the two banks include fostering, encouraging, and studying the expansion of Islamic finance worldwide. Some of the leading principles of the MoU are sharing knowledge sound practices in the Islamic financial services industry and cross fertilization of ideas.

Turkey’s Islamic Bank gets $75 million from IDB

Turkye Finans Participation Bank was given $75 million line of finance by Islamic Development Bank (IDB). An agreement was signed by IDB Group President Dr. Ahmad Mohamed Ali with one of Turkey’s largest Islamic Banks. This proccess took place at the 27th meeting of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation, (COMCEC), in Istanbul.
The agreement brings long term financing opportunities to small and medium enterprises in Turkey through Installment Sale, Ijara and Istisna’a modes of Islamic finance.

IDB Extends $ 46 Million to Gambia for New Development projects

Islamic Development Bank has signed four agreements with the Republic of Gambia to finance new development projects totaling $46 Million.
The two financing project agreements were signed by Dr. Ahmad Mohamed Ali, the IDB President and Abdu Cooley, the IDB Governor for the Republic of Gambia who also signed the two trade financing agreements with Dr. Walid Al-Wehaib, CEO of the Islamic International Islamic Trade Corporation.
the total financing of IDB Group in Gambia reached around $ 310 Million that included financing of projects in the area of agricultural, micro financing, infrastructure, education, and health as well as trade financing operations.



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