All Arab Infrastructure Bank

[Huojin]

ALL ARAB INFRASTRUCTURE BANK

كل بنك البنية التحتية العربية

Brothers and sisters of the Arab world,

Long has our wealth and prosperity been held beyond our reach. In the hands of foreign interests or simply not yet discovered, we have languished in poverty and been consigned to merely remember the ages past when we were the centre of the economic world, a focal point for trade, riches and knowledge beyond compare. With the birth of a new era, prosperity has begun to return to the Arab world and we find ourselves once more poised to return to our position of prominence and prestige. This is an opportunity we ought not to squander or waste on vanity, but rather one which we ought to come together to fulfil.

It is with this aim in mind that the Iraqi Republic proposes the establishment of an All Arab Infrastructure Bank - a new international financial institution whose target must be the development of the Arab people and our collaborative growth. Whether through collaborative programmes to enhance our interconnectivity, projects to bring basic infrastructure and resources to the people, or efforts to alleviate the suffering of our beset friends and allies around the Arab world, there is much we can, and indeed must do. Around the globe, from Europe to East Asia, nations have bound together to strengthen themselves - and indeed, here in Arab lands the Kuwait Fund has begun on that esteemed task. But why should be toil in isolation, when the bond of our shared heritage and aims imbues a strength few others can contend with?

The value of our shared wealth and knowledge waits to be tapped, to be brought forth and enrich the Arab World. The All Arab Infrastructure Bank has within it the potential to be the instrument of that enrichment.

We therefore invite all members of the League of Arab States to become members of the AAIB, that we may work together to build a better world.

[Gesar]

While not an affected state, Tanzania has a substantial Arab and Muslim population, and has a long history with the people of the Arab League. We applaud this measure, and any other step taken, to strengthen a portion of the world that has, despite its numerous accomplishments, long lived in the shadow of Europe and North America.

[Murtox]

Saudi Arabia sees this project as a way to really improve the conditions and standing of the Arab world , therefore the monarchy will support this initiative and is ready to contribute to it , as necessasry.

[Huojin]

Saudi Arabia sees this project as a way to really improve the conditions and standing of the Arab world , therefore the monarchy will support this initiative and is ready to contribute to it , as necessasry.

Iraqi Republic

The Iraqi people applaud wholeheartedly the position of the Saudi government, and welcome them to the AAIB.

[Master of Oblivion]

The Kingdom of Morocco is hesitant to join this organization. Will the practices of Sharia Law and the Islamic teachings on Finances guide this organization?

[Huojin]

Iraqi Republic

That is indeed our intention - for while Iraq and many other Arab states are secular in nature, we cannot ignore the spiritual influence which presides over the vast majority of Arab peoples. Therefore it was our hope that the AAIB should be a guiding instrument in the development of Islamic banking and finance, while retaining an Arab-based structure.

[Serenissima]

Given our long-standing cultural and political ties with the region, and our policy of friendship and co-operation with the Arab world, France suggests that an invitation to associate membership for the French Republic may be desirable to the AAIB, so that we may better work together in peace to encourage the development of North Africa and the Middle East.

[Huojin]

Iraqi Republic

We thank the French government for the interest in the matter - it is our hope that once the AAIB has begun operations the Board of Governors will be able to give consideration to suitable associate and/or observer members with strong historic and political ties to the region. However for the time being it is our hope that the bank will be able to operate as a solely Arab endeavour, as its independence from all exterior nations must be held as a matter not merely of cultural pride but economic necessity. If we are to reach beyond our present position, we must begin as we mean to go on - a sovereign people, determined to restore our once-held prosperity.

Nevertheless it is our sincere hope that the AAIB will be able to work with France in such an interim period - either on a bilateral or multilateral basis, or as part of joint efforts with the European Investment Bank - while maintaining the organisation in its present condition for now. We wish further to underscore the great goodwill seeded by this offer from France, and hope cooperation can be maintained and deepened in the future.

[LordMoose]

[ooc moment] both Sharia Law and the Islamic teachings forbid interest and a good number of
normal banking theories and practices, I question how well this would work out

[Serenissima]

[ooc moment] both Sharia Law and the Islamic teachings forbid interest and a good number of
normal banking theories and practices, I question how well this would work out

(It works out okay.)