Role of Banks in Financing Projects in OIC

Doha, December 04 (QNA) -Participants in a session on the role of banks in financing projects in the Organization of the Islamic Cooperation emphasized on Sunday the role of banks in advancing investment of youths and those interested in small and medium industries. The participants also called for giving priority to the sector of small and medium industries because of its contribution to reinvigorating the economy. They noted that the German economy, the biggest in Europe relied by 80 percent on the small and medium industries. Hamad Al Marzouq, chairman of the Kuwaiti banks federation said that sovereign funds from this region have invested in faltering international companies and gave no attention to banks that have been successful in this part of the world. Other participants called for finding new mechanisms at banks that help advance investment and ultimately growth especially in the sector of small and medium industries. The session was held on sidelines of the second Conference of the business association in member states of the OIC and was attended by a number of Arab banks executives. (QNA)