Islamic Development Bank #meeting in Jakarta

On May 15 representatives of 56 muslim countries came together at the 41st IDB annual meeting in Jakarta. In 2015, the IDB Group recorded approvals worth $1.83 bn, representing 21% of the total since the bank’s inception. In Turkey Islamic banking comprises 5% of the total banking system, but the government aims to increase this figure to 15% by 2023. IDB's president, Ahmad Mohamed Ali, said the bank also fully supported Turkey’s plans to develop Istanbul as an international financial center.