A statement by the Jeddah-based bank, issued after Al-Shabibi's meeting with the bank's president Dr Ahmad Mohammad Ali, said both officials discussed bilateral cooperation and bank's assistance to reconstruction efforts in Iraq. Ali said the bank was ready to provide technical assistance to build government institutions.
He said the bank was providing 500 million dollars to backing reconstruction efforts in Iraq. Established in 1975 with a nine-billion-dollar capital, the bank is a financial tool used to fund development projects and encourage trade between 45 Islamic countries.
