ID :
108904
Sat, 02/27/2010 - 17:58
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Shortlink :
http://m.oananews.org//node/108904
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Iran’s Central Bank proposes establishing a joint D8 bank
Tehran, Feb 27, IRNA – A top official in Iran’s Central Bank (CB) proposed formation of a joint bank by member states of D8 group.
Deputy CB Governor Hamid Borhani said his bank has already extended the proposal to the D8 group and the preliminary measures are underway.
According to the CB official, the details of the establishment of the bank like its initial capital and its performance will be finalized later.
Borhani also said the idea of establishment of a joint bank served the purpose of enhancing cooperation among member states and establishment of powerful economic ties.
The first meeting of industry ministers of eight Muslim developing states (D8) will be held in Tehran from February 28 to March 2.
The meeting aims to utilize capacities in order to increase the influence of D8 countries in global industry.
The D8 members include Iran, Bangladesh, Egypt, Indonesia, Malaysia, Nigeria, Pakistan and Turkey.
The combined population of the eight countries is about 60 percent of the Muslim people, or close to 13 percent of the world’s population.
Following the “Conference on Cooperation for Development”, on October 22, 1996, and after a series of preparatory meetings, the establishment of D8 was announced officially by the Summit of Heads of State in Istanbul, on June 15, 1997.
The objectives of D8 are to improve developing countries’ positions in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide better standards of living.
Around 400 domestic and foreign guests have been invited to the event./end
Deputy CB Governor Hamid Borhani said his bank has already extended the proposal to the D8 group and the preliminary measures are underway.
According to the CB official, the details of the establishment of the bank like its initial capital and its performance will be finalized later.
Borhani also said the idea of establishment of a joint bank served the purpose of enhancing cooperation among member states and establishment of powerful economic ties.
The first meeting of industry ministers of eight Muslim developing states (D8) will be held in Tehran from February 28 to March 2.
The meeting aims to utilize capacities in order to increase the influence of D8 countries in global industry.
The D8 members include Iran, Bangladesh, Egypt, Indonesia, Malaysia, Nigeria, Pakistan and Turkey.
The combined population of the eight countries is about 60 percent of the Muslim people, or close to 13 percent of the world’s population.
Following the “Conference on Cooperation for Development”, on October 22, 1996, and after a series of preparatory meetings, the establishment of D8 was announced officially by the Summit of Heads of State in Istanbul, on June 15, 1997.
The objectives of D8 are to improve developing countries’ positions in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at the international level, and provide better standards of living.
Around 400 domestic and foreign guests have been invited to the event./end
