Muslim thinkers can introduce independent monetary, banking system

Iran-IDB-Ahmadinejad
President Mahmoud Ahmadinejad said here Saturday that Muslim world thinkers are capable of introducing a monetary and banking system independent of the current system dominating the world.

President Ahmadinejad told head of the Islamic Development Bank Ahmad Mohammad Ali that any decision and activities for establishment of a banking and monetary system being based on Islamic injunctions would have an impact on colonial approach of some states towards Muslim states.

Stressing that the monetary and banking system regulates relations among countries and is the basis for economic activities, Ahmadinejad said Muslim states have been facing some restrictions in acting on the monetary and banking system governing the world.

He went on to say that the monetary and financial system underway in the world were devised after World War II as a means for domination on other countries.

He said among restrictions which such financial and monetary systems have created for Muslim states are outflow of Muslim nations' wealth and achievements and usage of the financial and monetary mechanisms against Muslim world.

He said some financial institutions, while offering loans, impose their economic policies on countries.

He then referred to war in Africa and said some countries wage war in Africa to raise their arms sale there and plunder the continent's mineral resources and wealth, prepare the ground for massacre of enormous people.

He said there are yet other groups of states which have monopolized drugs to dominate other nations and test their new drugs on nations.

The president went on to say that cooperation among Muslim states will help speed up growth and development.

Part of Muslim states' wealth can be put at the disposal of the IDB so that it can present them to Muslim countries to be spent on their development.

He said sound management is needed for better exploitation of Muslim world potential.

He added that more than 90 percent of Muslim states' needs can been met by the countries themselves.

He noted that the IDB and the Islamic Solidarity Fund for Development can help enhance areas of their activities.

The Islamic Republic of Iran is ready to put all its scientific achievements and its engineering and technological services at the disposal of other countries, he added.

Elsewhere in his remarks, Ahmadinejad said all countries today need sustainable and peaceful nuclear energy for their industrial, agricultural and health development, so Iran is ready to put its invaluable experience in the field at the disposal of Muslim states under the IAEA supervision.

He also pointed to Iran's extensive progress in different fields and said Iran has gained remarkable achievements in the dam and power plant construction, auto manufacturing, health, medicare and new technologies.

He hailed the IDB as a strong and supportive base for Muslim world economic activities.

He pointed to establishment of the Islamic Solidarity Fund for Development, calling it one of the IDB blessings.

He hoped that through efforts of Muslim officials and their assistance, there will be no poverty and illiteracy in Muslim world, which is not an inaccessible goal.

He then hailed Muslim world for having the best financial resources, tourism attractions and rich underground resources, saying facilities and ground are prepared for a big jump towards reconstruction in the world of Islam.

Passion, fraternity, peace loving and Islamic justice seeking feelings are assets of Muslim world as mankind needs them, he added.

Prior to the president's address, IDB Chief Ahmad Mohammad Ali said there are extensive grounds for Muslim world's using Iran's valuable experience.

He said the Islamic Solidarity Fund for Development has been established to eliminate poverty and illiteracy and eradicate contagious diseases in Muslim states.

He hoped that through constant support of Muslim states, especially Iran, the Fund would achieve its goal of development.