December 2016 Current Affairs

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Islamic Development Bank announced to open its first branch in India at Ahmedabad

Islamic Development Bank announced to open its first branch in India at Ahmedabad
26 May 2016 Current Affairs: Islamic Development Bank (IDB) in May 2016 announced to open its first branch in India at Ahmedabad, Gujarat. IDB is headquartered at Jeddah, Saudi Arabia.

The plans to set up the branch at Gujarat is part of MoU signed between India’s EXIM Bank  and IDB during Prime Minister Narendra Modi visit to United Arab Emirates (UAE) in April 2016. As part of the MoU a 100 million dollar line-of-credit was to be given to facilitate exports to IDB's member countries.

Besides, it also announced to provide 30 medical vans as part of IDB’s social sector initiatives. These vans will be used for the tribal areas of Chhota Udepur, Narmada and Bharuch in Gujarat, in the first phase.

This plan is part of 55 million dollar pact signed between IDB and Rashtriya Institute of Skill and Education (RISE) to provide medical care to rural poor in India. As part of it, IDB will provide 350 fully-equipped medical vans (mobile clinics) to India

The IDB is also keen at investing in small and medium enterprises (SMEs) of Gujarat and in executing a project on Wakf properties in different countries.Other than IDB, the government of Saudi Arabia is planning to set up BPOs for Saudi women with the support of India.

Islamic Development Bank : The Islamic Development Bank is an international financial institution was established in 1975.It was established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in December 1973.IDB's main objective is to foster the economic development and social progress of member countries as well as the Muslim community in accordance with principles of Shariah (Islamic law).The bank has 56 Islamic countries as its members.

 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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