PM opens IDB's regional head office today

Prime Minister Sheikh Hasina is expected to inaugurate a regional head office of the Islamic Development Bank (IDB) - Regional Hub - at a function to be held at Hotel Radisson in the capital today (Sunday), reports BSS.

IDB President Dr Bandar MH Hajjar, who is now on a five-day visit to Dhaka, will attend the opening ceremony of the regional head office of the Jeddah-based multilateral development partner.

The Islamic Development Bank currently operates a field representative office in Bangladesh.

Establishment of the regional hub in Dhaka is expected to give a major push to the IDB activities in Bangladesh as well as help speed up its decision-making process.

At present, the Dhaka office needs to take final nod from its Jeddah headquarters for conducting its activities in Bangladesh.

A regional hub manager will lead the Dhaka headquarters, which will cover three IDB member countries - Bangladesh, the Maldives and Afghanistan - as well as a number of non-member countries like India and Myanmar.

Since beginning its journey in 1975, the IDB has 57 shareholding member states.