Why we’re investing hugely in power, agric, other sectors – IsDB | Dailytrust

Why we’re investing hugely in power, agric, other sectors – IsDB

The Islamic Development Bank (IsDB) says it is investing hugely in power, agriculture and other critical sectors due to their viability in improving the economic growth of member nations.

Director, Marketing and Communications of the bank, Dr Thamer Baazeem stated this yesterday when he led a delegation of the bank on a courtesy visit to Media Trust Group headquarters in Abuja.

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In his remarks, he said energy serves as a key component of economic boom, which is why it takes a larger percentage of its projects.

“We have currently 57 member countries out of which Nigeria serves as one of the largest contributors after Saudi Arabia.

“With a presence in 4 continents, 11 regional hubs and 2 excellence centres, the overall focus of the bank is to boost recovery, improve resilience and also drive the green economy and we consider Nigeria as a big partner which is why we have about two big projects currently running in the country,” he explained.

Speaking further, Baazeem corrected public perception about the bank being an Islamic institution geared toward driving the Islamisation of member countries.

“We want everyone to know that we are a socio-economic institution established to promote the socio-economic status of both member and non-member states. We have projects spread across countries that are not even our members and their citizens benefit so we are not out to Islamisalise anyone,” he further stated.

He added that this is the first time the bank’s delegation is visiting Nigeria and will want to build a lasting partnership with the Media Trust Group.

In his response the Group Executive Director, Finance and Corporate Services of the Media Trust Group Mal. Nura Daura who spoke on behalf of management said the company is willing to explore areas of collaboration with the bank.

He said: “The company has transited to a group with the introduction of television and other digital contents to its services while working to ensure that radio comes onboard soon,”

He added that the company is repositioned to leverage on technology to collaborate with international institutions like the IsDB.

Also contributing, the Group Executive Director, Digital Services, Naziru Mikailu said the company will be launching a business publication next year, which will focus on Islamic financing and will reach out to the bank for expertise input.


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