The first two programmes under the five-year strategy of the ISFD will be covered by a $10 billion Waqf fund recently created by the bank for poverty reduction in Organisation of Islamic Conference (OIC) in member countries.
Dr Ali said that the ISFD was focused on increasing productivity and combating persisting problems of poverty, illiteracy and epidemics.
Key among these is the ISFD which aims to reduce poverty among the poorest Islamic nations.
In addition, the ISFD
demonstrates heading and landing approach deviation data in a format similar to primary flight displays.
Thales has been a Boeing supplier for many years and Boeing's preferred partner for the ISFD
The next section develops a contingent claims valuation model, which will be used to value each of the ISFDs and each of the call and put options imbedded in each ISFD.
where c(r, t) represents the rate at which debt service payments are made to FNMA ISFD holders.
was created by the Third Extraordinary Session of the OIC Islamic Summit Conference in Makkah in December 2005 and its framework subsequently approved by 32nd meeting of the Board of Governors of the Islamic Development Bank (IDB) in Dakar, Senegal in May 2007.
The ISFD was established by the OIC (Organization of the Islamic Countries) extraordinary summit in Makkah in December 2005 and launched in 2007 with the objective of fighting poverty, illiteracy, unemployment and diseases such as malaria and AIDS in IDB member countries.
The ISFD total approvals have thus far reached $515 million covering infrastructural, agricultural, educational, professional training and SME projects.
, whose objectives are linked directly to supporting the achievement of the United Nations' Millennium Development Goals, will focus on combating poverty in the poorest OIC member nations, 80 percent of which are located in sub-Saharan Africa, as well as to combat pockets of poverty in other more developed member states.
On eradicating poverty, the ISFD
report stated that to-date it has approved 29 projects having a total cost of US$ 1,062 million.