ISLAMABAD: Pakistan plans to borrow more than $4bn from the Islamic Development Bank as part of efforts to revive the economy and restore the low levels of foreign currency, according to a report in the Financial Times. The Financial Times quoted two anonymous officials saying that the Jeddah-based bank has agreed to make a formal offer to lend Islamabad the money when Imran Khan takes over as prime minister. Asad Umar, who is proposed as the next finance minister, is expected to accept the offer. “The paperwork is all…
SARAJEVO: The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB), the head of the Jeddah-based multilateral lender told Reuters.
A new infrastructure fund from the Islamic Development Bank aims to help Gulf-based companies expand in Asia and Africa, developing stronger economic ties among these regions.