ISTANBUL - Secretary-General of the Organization of the Islamic Conference (OIC) Ekmeleddin Ihsanoglu said Thursday a global economic crisis presented an opportunity for Muslim countries to offer Islamic financial mechanisms as a consistent and sustainable alternative against international finance mechanisms.
"The global financial crisis had caused serious problems in OIC member countries and we need to monitor it very closely and conduct studies against a possible recession and cut down in international assistance," Ihsanoglu told the 24th meeting of OIC's Standing Committee for Economic & Commercial Cooperation (COMCEC) in Istanbul.
Ihsanoglu said that the committee and the OIC should launch an initiative to tackle the effects of the economic crisis with the support and the contributions of the member states.
(YMB-MS)
(ECO)