Damascus hosts symposium on Islamic Development Bank activities

A one-day symposium was held in Damascus on Saturday to acquaint the Syrian private sector with the Islamic Development Bank's various activities in fostering the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shariaa (Islamic law).

The bank's functions are to participate in equity capital and grant loans for productive projects and enterprises besides providing financial assistance to member countries in other forms of economic and social development.

The bank is also required to establish and operate special funds for specific purposes, including a fund for assistance to Muslim communities in non-member countries in addition to setting up trust funds.