Ghana and Islamic Development Bank Join African Legal Facility

Posted by on Jul 1st, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Ghana and the Islamic Development Bank (IDB) have joined the African Legal Support Facility (ALSF). Ghana is now the 48th country to join the facility and the IDB the sixth international organization to become a member. The membership of the IDB shall be followed by the approval of an IDB financial contribution to the Facility of up to US$ 1 million, according to ALSF Director Stephen Karangizi. An independent body hosted by the African Development Bank (AfDB), the ALSF supports the AfDB's Regional Member Countries in the negotiation of complex commercial transactions and litigation brought against them by vulture funds. It also provides capacity building. The ALSF's goal is to ensure fair and balanced negotiations.


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