President of the Islamic Development Bank (IDB) Dr. Ahmad Mohamed Ali called on Monday to establish Islamic microfinance institutions in the Republic of Mozambique in order to alleviate poverty and increase financial integration. This call came during a speech delivered by Dr. Mohammed Ali in Maputo, the capital of Mozambique, at the opening of the 10th Global Forum of Islamic finance, which was held on the sidelines of the 40th annual meeting of the IDB which will be opened here on Wednesday. Dr. Ali explained that the IDB spent about $ 190 million on 35 different projects in the member states to contribute to the creation of thousands of jobs opportunities for the poor and low-income people, pointing out IDB efforts to develop Islamic finance in the member countries, including African Member States. The 10th Global Forum of Islamic Finance was jointly organized by the IDB's Islamic Institute for Research and Training, the Central Bank of Mozambique and the General Council for Islamic Banks and Financial Institutions.
