BRICS Bank and Islamic Development Bank Announce Collaboration

The New Development Bank (NDB) and the Islamic Development Bank (IsDB) on Jan. 18 announced they are “developing a framework for mutually beneficial cooperation and collaboration. A statement by NDB President Dilma Rousseff and IsDB President Dr. Muhammad Al Jasser was posted to the NDB website. It said, “The two multilateral development banks from the Global South are committed to work together to improve the quality of life of the people in their member countries. The NDB and the IsDB are ready to strengthen their relations and promote joint work for sustainable development of their members.”