Daily Mirror - Print Edition

IDB suggests international conference in SL to find ways to address liquidity

26 Jan 2023 - {{hitsCtrl.values.hits}}      

By Kelum Bandara  

In the backdrop of the financial crisis in Sri Lanka, the Islamic Development Bank (IDB) offered to have an international conference here to explore alternate ways to address liquidity issues, a Minister said.  

Foreign Affairs Minister Ali Sabry who is on a visit to Saudi Arabia held talks with the officials of the IDB and discussed ways and means to get financial support for Sri Lanka to tide over the current economic crisis.   

The Minister told Daily Mirror over the phone that the IDB suggested having an international conference. He said he would get in touch with the Finance
 Ministry in this regard.  

“The IDB will offer interest free approaches to address current liquidity issues. That is basically Islamic financing,” he said.   

The IDB is a multilateral development bank that works for social and economic development in member countries and Muslim communities worldwide. It is located in Jeddah, Saudi Arabia.