Ahmadinejad: Establishing Islamic bank, a way to improve world economy

President Mahmoud Ahmadinejad said on Saturday that establishing an Islamic bank rendering standard services is one way to improve world economy.

President Ahmadinejad made the remarks in a meeting with President of Islamic Development Bank Ahmad Mohamed Ali in Tehran.

Islamic banks can bring just development, eradicate poverty and solve problems facing the world, he said.

Rules and regulations of the Islamic bank have roots in Islamic teachings, he said.

The current international banking system tries to transfer money from the poor to the capitalists, he said.

The US central bank is now printing money without any financial support which means they are pick pocketing the poors in favor of special individuals, said President Ahmadinejad.

Establishment of Islamic banks with circulation of Islamic money can help improve the current world economy, he said.

“We believe that Islamic Development Bank with its rich and valuable experiences can play a more active role in the world markets,” he said.

The President of the Islamic Development Bank, for his part said that Iran is now regarded as one of the biggest supporters of the bank.