Caribbean News Now!

About Us Contact Us

Countries/Territories

Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.

Contribute

Submit news and opinion for publication

Subscribe

Click here to receive our daily regional news headlines by email.

Archives

Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Travel


Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin



News from the Caribbean:


Back To Today's News

Suriname seeks to bridge Islamic Bank, South America and Caribbean
Published on June 30, 2014 Email To Friend    Print Version

By Ray Chickrie
Caribbean News Now contributor

JEDDAH, Saudi Arabia -- At the just concluded 39th governors’ meeting of the Islamic Development Bank (IsDB) in Jeddah, Saudi Arabia, last Thursday, Suriname called for expansion of ties with the bank and to position itself as the “bridge” between the IsDB, South America and the Caribbean after decades of isolation, in the words of Gillmore Hoefdraad, Governor of Suriname to the Islamic Bank.

Hoefdraad, who is also the governor of the National Bank of Suriname, said, “As the only member country of the Islamic Development Bank in the Western Hemisphere, we see ourselves as a natural bridge between the new world and our fellow members in the other continents. Therefore, I want to mention that Suriname would like to support the efforts of the Islamic Development Bank to engage with countries in South America and the Caribbean.”

The Surinamese governor gave an overview of his country’s economy. He told the gathering that Suriname is rich in natural resources and is safe for investments. He pointed out also that Suriname continues to diversity its economy and is working to strengthen “institutional framework” and improve transparency of government operations.”

“We are also strengthening our institutional framework, with the view to broadening our revenue base and improving public finance management and reporting. In the past, insufficient public financial management and inadequate checks and balances squandered increased mining revenues during boom periods in Suriname.

“Transparency of government operations is a high priority for our government, and we are working with regional and international partners to strengthen statistical data and information systems in national accounts, public finance, balance of payments, and monetary statistics,” he said.

Hoefdraad congratulated the IsDB on its 40th anniversary. He applauded the bank for its many achievements and successes in the past 40 years and said that Suriname has been a proud member of the Islamic Bank since 1997. Suriname is the only country in the Americas that is a member of the Islamic Bank.

According to Hoefdraad, Suriname received US$102.8 million in financing for 12 operations since 1997. Recently, Suriname and the IsDB agreed on a new interim member country partnership strategy which translated into Suriname recently receiving additional loans totaling US$75.8 million for two projects in the health and education section.

Suriname will now work on a wider partnership with bank.

“We look forward to the success of the newly established projects and the definition and application of a wider member country partnership strategy,” said Hoefdraad.

Hoefdraad has been the most active representative of Suriname at the Islamic Bank since its membership began in 1997.

The Islamic Bank has received the highest ratings from the three major credit rating agencies over consecutive years.
 
Reads: 2554





Click here to receive daily news headlines from Caribbean News Now!



Back...

Comments:

No comments on this topic yet. Be the first one to submit a comment.

Back...

Send us your comments!  

Send us your comments on this article. All fields are required.

For your contribution to reach us, you must (a) provide a valid e-mail address and (b) click on the validation link that will be sent to the e-mail address you provide.  If the address is not valid or you don't click on the validation link, we will never see it!

Your Name:

Your Email:

(Validation required)

Comments:
Enter Code



Please note that, if you are using an AT&T domain email address, e.g. att.net, bellsouth.net, sbcglobal.net, the verification email will likely not be delivered. This is outside of our control and the only remedy seems to be for readers to complain to AT&T





Disclaimer
User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.



Other Headlines:



Regional Sports: