Financial and Banking News


IDB Approves $135mn in Loans 

The Jiddah-based Islamic Development Bank (IDB) last week approved credits totaling $134.7mn to member countries, of which $124mn are for foreign trade financing and the remainder are project loans. A total of $96mn is to be provided to finance imports of oil from OPEC countries by Bangladesh ($21mn to buy Saudi and UAE crude), Morocco, Pakistan ($20mn to buy Saudi crude), Turkey ($20mn to buy Iraqi crude) and Jordan...