IslamicFinance.de

Guyana, which joined the Organisation of Islamic Cooperation (OIC) in 1998, but not the Islamic Development Bank (IsDB), an organ of that group, will finally join the bank by mid-year according to Finance Minister Winston Jordan. Since Guyana is now a low-middle-income country, it cannot easily access concessionary loans from traditional lenders, and this is one reason why Guyana will join 56 other countries that are members of the IsDB. The IsDB now wants to market its product in the Caribbean and, with Guyana now poised to join, the bank will open an office in a Caribbean Community (CARICOM) country.

From November 16 -15, Suriname will host a meeting of central banks and monetary authorities of the Organisation of Islamic Cooperation (OIC) member countries. This will be one of the first meetings of the OIC that Paramaribo will host to enhance its economic standing and raise its global profile. The meeting will bring together economic and financial officials from OIC member states under the theme: "Structural and financial policies to cope with international and domestic economic challenges in the OIC member countries." The first day of the meeting will be dedicated to the experts’ group workshop. On the second day, the meeting of governors will take place.