The World Bank (WB) and Islamic Development Bank (IDB) Sunday signed a Memorandum of Understanding (MoU) to set out a framework for collaboration between the two parties and lend support to global, regional and country efforts in the development of Islamic Finance, reports UNB.
President of the IDB Group Dr Ahmad Mohamed Ali and WB Managing Director Dr Mahmoud Mohieldin signed the memorandum on behalf of their respective institutions in Tokyo with the common objectives of fostering, encouraging, and studying the expansion of Islamic finance globally, according to a message received here from Tokyo on Sunday………………………………………..Full Article: Source