IDB And Islami Bank Foundation sign $4.5m MOU to help
Sidr victims: IDB Expanding Operations
Islami Bank Foundation (IBF) yesterday signed a
memorandum of understanding (MoU) of US$ 4.5 million with Islamic Development
Bank (IDB) to operate and administer agricultural component of IDB programme
for the cyclone Sidr victims in Bangladesh.Visiting IDB President Dr Ahmad
Mohamed Ali and IBF Chairman Shah Abdul Hannan signed the MoU on behalf of
their respective sides at a local hotel, said a press release.Under the MoU,
the cyclone-affected people will get seed, fertiliser, insecticides,
agriculture equipment, livestock, small motorised boats and fishing nets with
training for the recipients of the agriculture inputs.
Dr Ali also joined a get-together followed by a lunch
at the same hotel with senior officials of non-government institutions,
diplomats, academics, editors of different national dailies, news agencies and
chiefs of electronic media.Speaking at the function, the IDB president said the
IDB Group has adopted poverty alleviation and the development of Islamic
Financial Services as the two key strategic objectives in addition to promoting
cooperation among member countries.He said Bangladesh has shown the world how
to reduce poverty by working with the poor and making them bankable. He sought
cooperation from the Islami Bank Bangladesh Ltd (IBBL) to introduce the IBBL
model throughout the Muslim world. IDB President refuted charge that the
institution charges interest as publicized by a section of news papers.He said
it was all lie. Under it charter approved by member countries it can not do
so.The confusion sometimes arise as some people are un aware of Islamic
instruments of financing
We are happy that IDB is expanding operation in
Bangladesh .It has also signed an agreement with Grameen Bank for construction
of poor man’s hospitals in Bangladesh and other countries.IDB has become a
major financial institution of the world which has expanded its activities in
many countries of Asia and Africa in particular, has set up regional offices
and increased its development finance.We hope IDB will open more country
offices and expand further its activities.
