Jeddah, Kingdom of Saudi Arabia 30 January 2017: Islamic finance is meant to benefit the entire humanity, rather than just Muslims, according to the Vice President of Islamic Development Bank (IsDB), Mr. Sayed Aqa.
The Vice President (Cooperation and Country Programming) stated this when he received a delegation of Rwandan Muslims, led by Shaikh Salim Hitimana, the Mufti of Rwanda.
Mr. Aqa stated that countries like Luxemburg, the United Kingdom and Japan are adopting Islamic finance.
He added that Islamic finance has several instruments like Sukuk (Islamic bonds), Awqaaf (endowments) and Islamic banking.
“Connecting countries through businesses and private sector development is a top priority for IsDB. We are ready to support Rwanda by linking the country with investors and entrepreneurs in IsDB member countries. The most important thing is the conducive atmosphere for business,” stated the Vice President.
In his remarks, Shaikh Salim Hitiman thanked IsDB for the projects it supported in Rwanda, and assured the Vice President that the business climate in Rwanda is one the best in Africa. He added that IsDB and Rwanda can work together in different sectors of development such as health, education and Islamic finance.