Kabul, Afghanistan, September17, 2015 – President of the Islamic Republic of Afghanistan, HE Mohammad Ashraf Ghani, has expressed interest in gaining support and assistance from Islamic Development Bank (IDB) Group for development of Islamic finance systems in his country including Islamic banking, Islamic micro-finance, Awqaf, Takaful to create impetus for sustainable development and equitable economic growth.
The Afghan President made the remarks during meeting with IDB Delegation attending the Senior Officials Meeting (SOM), and the 6th Regional Economic Cooperation Conference on Afghanistan (RECCA VI), in the capital Kabul during September 3 – 5, 2015 in Kabul.
Under the chairmanship of HE President Ashraf Ghani of the Islamic Republic of Afghanistan, the SOM focused on the practical support various institutions could provide in working together to achieve tangible results for the people of Afghanistan and the entire region. High-level delegates from 70 nations and international organizations attended SOM and RECCA VI where. Important projects on transit, energy, trade, investment, telecommunication, agriculture and oil pipeline were discussed.
The IDB Group was represented by a senior delegation headed by IDB Vice President for Cooperation and Capacity Development, Sayed Aqa who stated that the IDB Group will continue to work with the Government of Afghanistan in sharing its expertise and knowledge in Islamic Finance to promote the development of all instruments of Islamic Finance. Mr. Aqa also stated IDB Group commitments towards regional cooperation. The IDB Group will also invest in Agro-based economy, as well as irrigation
initiatives and renewable energy as an avenue to improve its employment and reduce poverty.
IDBG Delegation also discussed Afghanistan’s membership in other IDB Group entities including ICD, ITFC, and ICEIC to benefit for a full package of cooperation including trade and private sector development. The government of Afghanistan expressed strong interest to fast track joining other IDB Group members. The Government appreciated IDB Group’s initiation of its Member Country Partnership Strategy (MCPS) for Afghanistan and stated its support to the process. The IDB Group was requested to
boost its presence and capacity of its field office in Kabul.
The IDB Group delegation expressed commitment to expand its partnership with Afghanistan as requested by the government, and coordinate closely with government ministries, other MDBs, bilateral donors, the UN system, CSOs, and the private sector - on practical actions to advance regional cooperation and contribute to regional stability, poverty reduction, and economic prosperity.