-          Taking advantage of the Islamic Bank's experience in issuing the Islamic bonds (Skuk).

-          Considering the establishment of Scientific Research Finance Fund and linking it to the requirements of industry.

-          President of Islamic Bank agrees on the proposal of Minister of Finance to establish a regional representative office in Cairo.

Minister of Finance, Dr. Al Morsy Hegazy confirms that Egypt looks forward to held strategic partnership with IDB's group, indicating that there are many fields of cooperation and partnership either in financing infrastructure projects to lessen the burdens of general budget or in financing, Egypt's international trade especially with Islamic Countries.

The Minister said that Egypt has enormous potentials to enhance such partnership with the Islamic Bank.

In this context, Egypt is considering many PPP projects across several sectors such as infrastructure, energy, roads and hospitals… etc. As well as Egypt can take advantage of the IDB's experience in issuing Islamic bonds (Skuk).

The above mentioned issues were discussed during the Minister's meeting with the Minister and the president of IDB's group, Ahmed Mohammed Ali during his visit to Cairo, First Undersecretary of the Ministry of Finance, Mr. Ayman Gohar, Head of the Finance Sector at the Ministry, Mohammed Al Morsy, executive director of Islamic Bank, Mr. Zenhom Zahran, country operations department official at the bank, Saleh Mansour and technical assistant of the bank's president, Saleh Amer.

The Minister said that they discussed the bank's experience in the field of Islamic bonds (Skuk) as the bank issues new bonds every year, contributing to raise the bank's growth rates from 15% to 30% annually. 

The Minister added that the main markets of Islamic bonds are in Islamic countries which cover about 50% of globally bonds offering, while the remaining 50% are in European and American markets.

The Minister praised the role of Islamic bank and its contributions in Islamic waqf system to finance the establishment of Al-Azhar centre to teach Arabic to non-native speakers and Al-Azhar Islamic mission city. He noted that the trend which bank considers will contribute in raising the community awareness of the role of Islamic waqf system and its development role whereas it contributed in establishment of several hospitals and health care centers besides establishment  of  Al-Azhar and Cairo university.

Minister of Finance proposed to the president of IDB's group the establishment of scientific research Finance Fund which contributes in a qualitative leap in production and development of Egyptian industry and in Islamic Countries' industry. This will increase the competitiveness of our industrial products by reducing the costs.