Iranian president: Islamic banking can reform global economy
Azerbaijan, Baku, Jan. 26 / Trend F.Mehdi/
Iranian President Mahmoud Ahmadinejad has called for setting up a bank based on Islamic fiscal system, saying that it would reform the global economy, the Mehr News Agency reported.
In a meeting with Ahmad Mohamed Ali, the president of the Islamic Development Bank, in Tehran on Saturday, Ahmadinejad said that the goal of a developed world without poverty requires a banking system based on Islamic regulations.
The Islamic Development Bank is an international financial institution established in December 1973.
The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Islamic Law.