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Global Islamic Fintech (GIFT) Report 2022 launched today

Global Islamic Fintech market estimated at $79 billion in transaction volume (2021), and projected to grow to $179 billion by 2026: Global Islamic Fintech (GIFT) Report 2022 launched today. The GIFT Index ranks the UK amongst the top five most conducive ecosystem for Islamic Fintech. The UK continues to punch above its weight as the […]

Halal Accreditation Agency of Turkey (HAK) Is Now Embracing More of the OIC/SMIIC Halal Standard

Since the first day SMIIC began to publish halal standards, there has been an extensive use and interest from interested parties, including producers, conformity assessment bodies, standardization institutions, accreditation bodies and such.  Now, a prominent example of the benefits of drawing upon OIC/SMIIC standards on halal issues can be observed in Turkey for different levels […]

US GDP falls for second-straight quarter, signs of a possible recession

Washington: US Gross Domestic Product contracted by 0.9 per cent in the second quarter of this year after a first-quarter drop of 1.6 per cent, the US Commerce Department said on Thursday in a preliminary estimate that technically placed the economy in a possible recession. “Real gross domestic product (GDP) decreased at an annual rate of […]

Delegation briefed about immense opportunities in Salalah Free Zone

Muscat: The existing and potential investment opportunities and the world-class infrastructure that meet the requirements of investors, were conveyed to a delegation on their visit to the Salalah Free Zone and Port. The media delegation comprising reporters of Arab and foreign news agencies were also acquainted with the transport system, the logistics sector and the available […]

IsDB Group announces a USD 10.54-billion package for Food Security Response Program (FSRP) to respond to the global food security crisis in its member countries

Jeddah, Kingdom of Saudi Arabia, 28 July 2022 – The Islamic Development Bank (IsDB) Group held today an extraordinary joint meeting of the IsDB Board of Executive Directors, the Board of Directors of the Islamic Solidarity Fund for Development (ISFD), and the Board of Directors of the Islamic Corporation for the Insurance of Investment and […]

Islamic Finance: An Alternative Source Of Funding Healthcare Infrastructure In Africa

VIRTUAL SUMMIT As an organization committed to fostering the Islamic paradigm of economic development in Africa, the Africa Islamic Economic Foundation (AFRIEF), in collaboration with Glocal Healthcare Services Private Limited, is organizing a two-day Virtual Summit on Tuesday, December 20th, 2022 on a topic of growing relevance in recent years: Islamic Finance: an Alternative Source of Funding Healthcare Infrastructure […]

Africa Islamic Economic Forum – 2023

THE EVENT OVERVIEW Recognizing the strategic importance and considerable opportunities presented by the Islamic Economy in accelerating the economic growth and development of the continent, the Africa Islamic Economic Foundation (AFRIEF) is happy to announce the Africa Islamic Economic Forum (AIEF) scheduled to take place virtually on the Tuesday, 10th January, 2023 under the theme: Islamic Economy in […]


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The Islamic Development Bank (IsDB), during its 344 Board of Executive Director’s meeting of 13 February 2022, approved Projects for Cote d’Ivoire, Guinea, and Senegal

The Board of Executive directors of the Bank, at its 344th meeting held on 13 February 2022, approved a total of EUR 297.67 million for 3 Member Countries under the Regional Hub of Dakar. These are: EUR 35.14 million for Phase 3 of the Hydro-Agricultural Development Project in Upper Sassandra and Fromager Regions in Cote d’Ivoire, EUR 24.30 million for Phase 2 of the Development of Technical and Vocational Education Project, Guinea, and EUR 238.23 million for the Construction of the Dakar – Tivaouane – Saint Louis Highway/ Mékhé – Saint Louis Project.