Morocco proposes creation of joint funds to restructure enterprises in Islamic states

Morocco proposed the creation of joint funds to restructure small and medium-sized enterprises in Islamic states to enable them face up globalization.

The proposal was made by minister of social economy, small and medium enterprises and handicraft, Ahmed Lahlimi, before the 16th session of the standing committee for economic and commercial cooperation, stemming from the organization of Islamic Conference (OIC) held in Istanbul, Turkey, October 23 through 236.

Lahlimi made a presentation on Morocco's experience regarding the promotion of SME which play, he said, a key role in the country's economy and in the creation of jobs. He said Morocco is about to adopt a charter for the promotion of SME.

Lahlimi also called the committee to mobilize funds to the benefit of Bayt Mal Al-Quds (Fund for Jerusalem) to preserve the Islamic heritage in the holy city and proposed that the Islamic Development Bank, in partnership with other national financial institutions, extends funds to small and medium enterprises operating in the Palestinian territories to consolidate the Palestinian economic fabric, and back the Palestinian People's resistance to Zionist aggressions.

The committee's 16th session adopted several recommendations and a resolution on the economic incidence of the recent developments in the region on Palestine. The committee which deplored the violation of Islamic and Christian holy shrines in Al-Quds (Jerusalem) called OIC member states to extend urgent assistance to Palestine to help it establish a firm, independent Palestinian economy.

During his stay in Turkey, Lahlimi conveyed President Ahmed Nejdat Sezer a message of friendship and consideration from King Mohammed VI and held side talks with the OIC secretary general and the IDB president.