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Islamic Finance Briefing - Categorized | Banking, Finance more

IDB cumulative loan portfolio exceeds $70 bln

Posted on 24 June 2011

The 36th Annual Meeting of the Board of Governors of the Islamic Development Bank Group will take place in Jeddah, Saudi Arabia from 26 to 30 June. IDB Group president Ahmad Mohamed Ali has stated that the cumulative funding by the IDB Group by December 2010 exceeded $70 billion.
“In 2010 Group’s funding reached $7 billion covering 363 operations. The Bank allocated 40% of its funding through interest-free loans and affordable financing for programs and initiatives; 58.8% to businesses; and 1.2% for scholarships and grants to Muslim communities in non-member countries to support health and education programs among global Muslim communities,” he said………………………………………..Full Article: Source

 
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