Addressing members of Business Owners' Union in a meeting held at the Qatar Chamber of Commerce and Industry (QCCI), Kamel said the proposed bank will seek to facilitate movement of capitals among the Organisation of the Islamic Conference (OIC) member states and encourage mutual cooperation between Islamic banks as well as boost tourism, increase trade exchange and National Product.  

He added: "I met yesterday with leaders of Islamic banks in Qatar and I introduced them to the idea." 

The meeting was attended by Sheikh Khalifa bin Jassim bin Mohammad Al Thani, Chairman of QCCI and several businessmen from Islamic countries.         

Kamel, who became president of ICCI in 2005 and was introducing business owners in the Islamic world to ICCI's 'Ten Year Work Plan', said the chamber has prepared a plan to activate the role of youth in the economic future of the Islamic World as well as open before them avenues for self employment opportunities.

He spoke in detail about the ICCI objectives, the challenges facing the Islamic countries and mechanisms set by ICCI to deal with all these challenges.  

He added the challenges were like poverty, unemployment, low economic development rate, low trade exchange and economic cooperation, adding that ICCI, has developed several projects to deal with such situation including setting up companies for training and employing labourers, firms from developing education curriculum, and creating Global Authority for Zakat and Islamic Waqf (endowment) Funds.      

Kamel said ICCI has created the International Business Opportunities Company with aim to discover the investment opportunities in the Islamic World and promote them through the elements of the Islamic economy system so as to increase the volume of inter-investment, raise the national product, and increase the volume of inter- trade for the all specified states.   

He added to further improve investment integration in the Islamic world, nine investment maps for nine Islamic states with 700 million people will be developed by drawing a general investment road map.  

The work plan aims to establish two kinds of holding companies: Regional companies such as Egyptian Forass Company with capital 100 m $US; Senegal Forass Company with capital 5 m$US; Sudan Forass Company with capital $20m; Ugandan Forass Company with capital $5m.   

Sectorial Companies, including Inter-tourism Development company; Infra structure development company; Roa'a (vision) Media Company, Exchanging and improving labour company; Free Zones Development Company; the Holding Company for Pharmaceutical and Medical Industries.

© The Peninsula 2008

 

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