OIC holds virtual meeting on steps to establish family banks in G5 Sahel countries

OIC holds virtual meeting on steps to establish family banks in G5 Sahel countries

Jeddah (UNA-OIC) – The General Secretariat of the Organization of Islamic Cooperation (OIC) held on 23 July 2020 a virtual meeting to follow up and evaluate the implementation of the recommendations of the workshop on promotion of the Family Bank concept in G5 Sahel and ways of establishing family banks therein.

The meeting was held in coordination with Burkina Faso, Chair of the 7th Ministerial Conference on the Role of Women in Development in Member States, and the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA), an OIC affiliated organ, in the presence of Hélène Marie Laurence Ilboudo Marchal, Burkina Faso’s Minister of Women, National Solidarity, Family, and Humanitarian Action.

OIC Assistant Secretary General for Humanitarian, Cultural, and Social Affairs Ambassador Tariq Ali Bakheet indicated in the statement of the General Secretariat that the meeting convenes to “follow up the implementation of the recommendations of the workshop held in January 2020 and evaluate the actions taken by the countries concerned to implement the said recommendations and to submit proposals on ways and means to accelerate the process.”

Bakheet pointed out that the workshop, which convened at the beginning of last year, aimed at accelerating the process of establishing family banks and promoting Islamic microfinance in the G5 Sahel countries (Burkina Faso, Chad, Niger, Mauritania, and Mali). This would include, in particular, the establishment of national task forces in these countries to promote the concept of the family bank.

He stressed the interest of OIC Secretary General Dr. Yousef bin Ahmed Al-Othaimeen and his support for the establishment of family banks in the countries concerned, due to their importance and role in developing society by empowering the family economically and improving their standard of living.

In her opening speech, Ms. Marchal Ilboudo expressed Burkina Faso’s appreciation to the OIC General Secretariat for its efforts in following up the implementation of the decisions of the 7th Women Conference, especially promotion of Islamic microfinance and the family bank in the G5 Sahel countries.

The minister noted that this initiative constitutes a mainstay to support the efforts of the G5 in the area of ​​women’s access to finance and the promotion of women’s entrepreneurship. She affirmed the willingness of the Burkinabe government and the G5 to take practical measures to achieve this as soon as possible, to alleviate the suffering of women and enable them to engage in development.

The attendees included representatives from the public and private sectors of the G5 who presented a summary of the steps taken since the workshop and proposals for the next steps to proceed with the establishment of the family banks in their countries in coordination with the OIC General Secretariat and its relevant organs.


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