Jan 6, 2014, 6:09 PM
News Code: 80982839
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Economy minister confers with president of Islamic Development Bank

Tehran, Jan 6, IRNA -- Minister of Finance and Economic Affairs Ali Tayebnia conferred on Monday with the President of the Jeddah-based Islamic Development Bank (IDB) Ahmad Mohamed Ali on expansion of finance cooperation.

IDB has attained high ranks in previous year and it is expected the trend to be continued and the bank could successfully attain higher ranks (AAA) in the year ahead, Tabyebnia said.

Tayebnia made it clear that last June presidential election in Iran was a landmark movement toward political and commerce advances.

“We are to make use of the existing potentials to find access to the world financial markets in order to remove our shortcomings,” he said.

The Islamic Republic of Iran as the third main shareholder of IDB is to broaden its relations with the bank more than ever, he said.

“We hope to witness further expansion of relations and cooperation between the Islamic Republic of Iran and IDB,” Tayebnia said.

IDB President Ahmad Mohamed Ali, for his part, expressed pleasure with his visit to Iran and hoped to witness expansion of cooperation between the two sides.

He appreciated IDB members such as the Islamic Republic of Iran who played prominent role to upgrade ranking of the bank in the past ten years.