Jan 29 2013

Establishment of Islamic states savings fund propose

Tehran - Chairman of Board of Managers of National Development Fund Mohammad Reza Farzin in a meeting with the head of Islamic Development Bank ( IDB ) Monday proposed establishing an Islamic states savings fund.

At the meeting, both sides exchanges views on promoting cooperation between the fund and the bank to issue bonds as well as making investments in Muslim states' markets.

Head of IDB Ahmad Mohammad Ali, for his part, voiced the bank's readiness to cooperate with National Development Fund and described its role in advancing the economic objectives of the bank as crucial.

He also hoped that the grounds for promotion of economic cooperation between the fund and IDB will be prepared through constructive interaction.

© IRNA 2013

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