Islamic finance

October 17, 2018

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Islamic Development Bank plans to raise $1 billion for Africa and Asia

To help fill a gap in infrastructure investment among its member countries, the Saudi-based Islamic Development Bank (IDB) plans to raise two funds worth $1 billion that will be deployed to Africa and Asia in 2019. The decision from IDB, the largest development organisation in the muslim world, follows the launch of a $500 million technology focused fund in April 2018.

Mohamed Nouri Jouini, Vice President of Partnership Development said the new"...

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