MUSCAT — His Highness Sayyid Fahd bin Mahmood al Said, Deputy Prime Minister for the Council of Ministers, received here yesterday Dr Ahmed Mohammed Ali al Madani, Chairman of the Islamic Development Bank Group, who is currently taking part in a conference hosted by the Sultanate.
HH Sayyid Fahd hailed the role of the international Islamic banking institution in supporting communication among the 56 member states of the Organisation of Islamic Co-operation. He expressed appreciation for the Islamic Development Bank Group’s efforts in supporting social and economic development and trade financing in member states.
The group comprises a number of funds, including the investment stakes fund, the Islamic Bank’s Infrastructure Development Fund. The Sultanate is a shareholder in the institution’s capital. HH Sayyid Fahd reviewed the comprehensive development being witnessed by the Sultanate, stressing that the government provides all sorts of incentives for local and foreign investors. He noted that the country’s Five Year Plans seek to diversify sources of income, develop human resources and expand co-operation with international organisations like the Islamic Development Bank Group.
The discussion also dealt with the future of economic and financial co-operation through the Islamic institution, particularly in the fields of training, research and private sector parternship.