Iranian Minister: Islamic banks, safe from crises

Minister of Economic Affairs and Finance Shamseddin Hosseini said on Saturday the Islamic banks and the Islamic financial institutions have been safe from the recent world recession.

Ahlul Bayt News Agency, Talking to reporters on the sidelines of the 21st Conference on the Islamic Banking System in Tehran, Hosseini said the Islamic Development Bank (IDB) has not also been hurt by the world economic crisis.

The Islamic Republic of Iran is the only country managing its banks under the usury-free banking system’s regulations, the Iranian minister said.

The two-day 21st Conference on the Islamic Banking System started in the capital city of Tehran on Saturday with participation of top Iranian officials.

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