Int'l Development bank to be established

Business Materials 21 June 2006 13:15 (UTC +04:00)

The International Development Bank will be established at the International Organization Zakat, Trend reports quoting Sheikh Saleh Inb Abdullah Kamal, the President of the Chamber of Commerce and Industry of the Islamic countries, as stating in Baku on 21 June.

According to Kamal, the major capital of the Bank will comprise $100bn. The banks activities will cover several directions, including the study of investment opportunities in the Islamic countries, exchange of workforce in Islamic countries; development of tourism, establishment of free economic zone, and exchange of information.

The activities of the Bank will also cover Azerbaijan, the President of the CCI of Islamic countries underscored.