Financial Issue

IDB: Debt Mechanism is the Key

VIVAnews - President of the Islamic Development Bank (IDB) Ahmed Mohamed Ali said the success of world's financial reform lies on the mechanism of fund disbursement.

"If the status of the loan providers were creditors, now they should be partners," said Ali in the fifth World Islamic Economic Forum on Monday, March 2.

According to Ali, the global financial crisis is affected by the inaccurate financial system. "We learn from experience that there have been failed projects," he said. Through the G-20, Muslim countries also contribute ideas taking into account proposal on financial reform.

"I have already answered several questions from the G-20 in line with the future contributions to the world's economy," he said. The proposal was conveyed through Indonesia, Saudi Arabia and Turkey. The reason for this is that the three countries are the representatives of the Organization of the Islamic Conference existing the G-20.

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Translated by: Bonardo Maulana Wahono

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VIVA.co.id
19 Maret 2024