37th Meeting of the Islamic Development Bank (IDB) Group in Khartoum
Vice President Namadi Sambo has led a Nigerian delegation to the 37th annual meeting of the Islamic Development Bank (IDB) Group in Khartoum, Sudan.
Sambo is joining leaders from eight other countries including Saudi Arabia, Libya, Iran, Egypt, Kuwait, Turkey, Qatar and the United Arab Emirates (UAE) who are major shareholders in the bank.
Vice President Mohammed Namadi Sambo received by the Nigeria Embassy Official in Khartoum on Sunday.
The official opening ceremony took place yesterday, while the meeting will end on Thursday.
The meeting is also being attended by representatives of countries who are not necessarily major shareholders but are members of the group as well.
The IDB is a multilateral development financing institution located in Jeddah, Saudi Arabia founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), now the Organization of Islamic Cooperation in 1973.
The bank which officially began its activities 1975, has 56 shareholding member states on the basis of paid-up capital.
The basic condition for membership is that the prospective member country should be a member of the OIC, pay its contribution to the capital of the bank and be willing to accept such terms and conditions as may be decided upon by the IDB Board of Governors.
Sessions slated to hold during the annual event include 37th Annual Meeting of Board of Governors of IDB, the 19th Annual Meeting of the Board of Governors of the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC), the 5th Annual Meeting of the Board of Governors of the Islamic Solidarity Fund for Development (ISDFD), the 12th Annual Meeting General Assembly of the Islamic Corporation for the Development of the Private Sector (ICD) and the 7th General Assembly of the International Islamic Trade Finance Corporation (ITFC).
Source: All Africa
Vice President Mohammed Namadi Sambo received by the Nigeria Embassy Official in Khartoum on Sunday.
The official opening ceremony took place yesterday, while the meeting will end on Thursday.
The meeting is also being attended by representatives of countries who are not necessarily major shareholders but are members of the group as well.
The IDB is a multilateral development financing institution located in Jeddah, Saudi Arabia founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), now the Organization of Islamic Cooperation in 1973.
The bank which officially began its activities 1975, has 56 shareholding member states on the basis of paid-up capital.
The basic condition for membership is that the prospective member country should be a member of the OIC, pay its contribution to the capital of the bank and be willing to accept such terms and conditions as may be decided upon by the IDB Board of Governors.
Sessions slated to hold during the annual event include 37th Annual Meeting of Board of Governors of IDB, the 19th Annual Meeting of the Board of Governors of the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC), the 5th Annual Meeting of the Board of Governors of the Islamic Solidarity Fund for Development (ISDFD), the 12th Annual Meeting General Assembly of the Islamic Corporation for the Development of the Private Sector (ICD) and the 7th General Assembly of the International Islamic Trade Finance Corporation (ITFC).
Source: All Africa
