Board of Islamic Bank's executive directors starts new session

The board of executive directors of the Islamic Development Bank (IDB) began on Sunday its 180th session to discuss ways of contributing to higher economic and social growth in member countries.

The board, meeting under the bank's president, Ahmad Mohammad Ali, will discuss during the three-day meeting, financing a number of development projects, offering technical aid and financing a series of trade operations for some member countries.

The agenda also features preparations for the 23rd annual meeting of the bank's board of governors in Benin in November at the level of ministers of economy, finance and planning in the 52-member states.

Founded in 1975, the Islamic Development Bank is the financial arm of the Organization of the Islamic Conference (OIC). It now has 52 members and a capital of $9 billion.