-- The annual international summit of the economy and finance ministers of the Islamic countries will be held for three days in Ashkhabad, the capital of Turkmenistan, from Tuesday, June 2.

According to the WAS news agency, the summit will be organized by the Islamic Development Bank under the supervision of Kurbanguly Berdymukhamedov, Turkmenistan president.

The economy ministers of 56 Islamic countries along with 600 managers from regional and international financial institutes and representatives of Islamic banks and investment companies will take part in this summit.

The participants will investigate proper strategies to confront the challenges caused by the global financial crisis and the effects it has on the economy of the member countries of the Islamic Development Bank. They will discuss ways to strengthen economic and trade cooperation in the Islamic world.

The Islamic Development Bank spent over $5 billion in 2008 to carry out 399 economic programs in various Islamic countries.

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