Iran To Participate In Increasing Capital Of Islamic Development Bank

Iranian Finance and Economic Affairs Minister Ehsan Khandouzi said, Iran as one of the major shareholders of the Islamic Development Bank (IsDB), is implementing new measures to participate in increasing the bank’s capital. 

Khandouzi made the remarks in a meeting with IsDB Chairman Muhammad Sulaiman Al Jasser on the sidelines of the annual meeting of the bank’s Board of Executive Directors in Jeddah.

In this meeting, while pointing to the milestones of joint cooperation, the parties emphasized on removing the related obstacles and problems in the path of this cooperation.

Referring to the efforts made by the Iranian government to remove existing cooperation obstacles, Khandouzi pointed out the emphasis of the president of the Islamic Republic of Iran on strengthening joint cooperation with IsDB and solving the problems and challenges in the path of these interactions.

Al Jasser pointed out that the challenges facing the bank during the years of the Coronavirus pandemic and requested that the Islamic Republic of Iran, like other senior shareholders of the bank, supports the increase of the bank’s capital and fulfills its obligations to the bank.

The Islamic Development Bank is a multilateral development finance institution that is focused on Islamic finance for infrastructure development and is located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia.