The Islamic Chamber of Commerce& Industry (ICCI) has held the 10th meeting of its Board of Directors headed by H.E Sheikh Saleh Kamel on Friday 20 August, 2010 in Hilton Hotel, Jeddah, Saudi Arabia in the presence of the assistant secretaries and heads of the Islamic chambers of commerce and industry in the OIC member countries, including Mr. Ahmed Al-Wakeel, Chairman of the Federation of  Egypt Chambers of Commerce, Sheikh Khalifa bin Jassim, Chairman of Qatar Chamber of Commerce & Industry (QCCI),  Abdullah Sultan Abdullah, Head of Federation of UAE Chambers of Commerce and Industry (FCCIUAE), Engineer Fahad Mohammad Al-Salmy, President of Council for Saudi Chambers of Commerce and Industry, Hamza Mahmoud Ramadan, Kuwait Chamber of Commerce $ Industry (KCCI), Mr. Rifa’at, Head of Union Of Chambers Of Commerce And Commodity Exchanges Of Turkey (TOBB), Nael Kabariti, President of Jordan Chamber of Commerce,  Atao Sofiano, Head of Benin Chamber, and Observer from OIC.

The International Monetary Fund warned that many wealthy countries were approaching debt levels that could spark a market-wide panic, but suggested fears of governments defaulting on their skyrocketing debts was overstated.