Turkish President Promotes Islamic Megabank Idea
The president of Turkey suggested creating an Islamic megabank that would finance both infrastructure projects and the liquidity requirements of Islamic financial institutions.
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Recep Tayyip Erdogan reiterated his push for expanded international trade in local currencies during a video link address to the D-8 developing nations.
To protect our nations from dangers based on foreign currencies, he continued, we must focus on commerce in local currencies.
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He asserted that the D-8 Network for Research and Innovation is essential because it enables academic institutions and other organizations to exchange knowledge in areas such as nanotechnology, artificial intelligence, robotics, the internet of things, big data, and renewable energy.
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