Promise of the Beast | Campaign for debt relief gains momentum, allies in the Vatican

A Washington-based organization and its worldwide partners working to carry on the biblical principle of jubilee have gained the attention of the Vatican.

June 13 - The International Monetary Fund Executive Board meets to discuss responsible lending and borrowing, predatory hedge funds and aspects of an international bankruptcy process. Jubilee USA and New Rules for Global Finance urged the Fund to pass reforms that will protect the poor.

Representatives of Jubilee USA Network and its partners discussed the need for debt relief for poor countries and international financial reform for 90 minutes May 21 in the Apostolic Palace with Cardinal Pietro Parolin, Vatican secretary of state, and Cardinal Peter Turkson, president of the Pontifical Council for Justice and Peace.

The Islamic Financial World Order in Istanbul via World Bank

Earlier this month we mentioned  that Turkey was to open first Islamic finance research center.

 

Now today it was announced The World Bank will open its first center on Islamic Finance at Borsa Istanbul premises, the exchange market said Monday.

A statement on Borsa Istanbul's website says a ceremony will be held later on Monday to inaugurate the World Bank Global Islamic Finance Development Center, the first of its kind.

Deputy Prime Minister Ali Babacan, World Bank President Dr. Jim Yong Kim, Treasury Undersecretary Ibrahim Halil Canakci and Borsa Istanbul Chairman & CEO Dr. Ibrahim M. Turhan will participate in the ceremony, the statement adds.

Istanbul has become more popular in recent months as a center of finance, specifically in Islamic instruments. Turkey issued its first sukuk, Islamic equivalent of bonds, in September 2012, and this year in the same month Istanbul hosted an international forum on financial systems where the topic of Islamic finance featured prominently.

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