Cooperation with Organisation of Islamic Cooperation (OIC)

As a manifestation of its basic aim to help promote socio-economic and commercial cooperation among its members, the IDB Group has always supported the activities of the Organisation of Islamic Cooperation (OIC) and its affiliated institutions. The Bank has also played an effective role in promoting and strengthening cooperation among OIC affiliated and subsidiary organs by providing opportunities to exchange views on matters of collective concern and play their assigned roles.

Cooperation at the OIC level
With the aforementioned objective in mind, IDB has developed working relationships specially with:

  1. Statistical, Economic and Social Research and Training Center for Islamic Countries (SESRTCIC) in Turkey,
  2. the Islamic Center for Development of Trade (ICDT) in Casablanca,
  3. the Islamic University of Technology (IUT) in Dhaka, and
  4. the Islamic Chamber of Commerce and Industry (ICCI) in Karachi.

The co-operation between the IDB and these institutions includes undertaking joint studies, collaboration in collection and exchange of information, research and training activities, participation in joint working groups, task forces and attending each others' meetings, as well as holding Islamic Conference Summit, Islamic Conference of Foreign Ministers (ICFM) sessions to exchange information, views and experiences at the services of the Ummah, Consultative and Sessional Committee meetings on the sidelines of the annual Standing Committee for Economic and Commercial Cooperation (COMCEC) and Islamic Commission for Economic, Cultural and Social Affairs (ICECS).

Cooperation at the COMCEC Level
One particular forum of great importance to the IDB is the COMCEC, which is the Summit level Ministerial Committee of OIC Economy and Trade Ministers. This committee convenes annually to discuss specific agenda prepared by the annual meeting of the Follow-up Committee of the COMCEC. The Bank not only reports on various aspects of its activities to this summit-level Committee, but also undertakes tasks assigned to it. The IDB also participates in many consultative meetings with the OIC and the relevant OIC institutions such as SESRTCIC, ICDT, IUT, ICCI and COMCEC Coordination Office, where possibilities of joint activities are discussed in areas of common interest relating to promotion of economic, commercial and technical cooperation.