JEDDAH, 30 April — The total assistance extended by the Islamic Development Bank reached $25 billion in the past one year. This was announced by IDB President Dr. Ahmad Muhammad Ali during the opening ceremony of the 200th meeting of the bank’s board of executive directors in Jeddah yesterday. The aid was approved for development projects in member countries and Muslim minority communities as well as to finance intra-Islamic trade.
The two-day meeting was opened by Dr. Abdul Aziz Al-Khuwaiter, minister of state and member of the Cabinet, on behalf of Dr. Ibrahim Al-Assaf, minister of finance and national economy.
Dr. Ali said the meeting was being attended by many respected figures from the commercial world who are familiar with the bank’s activities. “They are here to observe and to give an honest evaluation of the activities of the bank, and make suggestions to help us face all the challenges from the information technology revolution,” said Dr. Ali.
The ceremony concluded with a speech by Dr. Al-Khuwaiter who commended the success of the IDB. “What makes us all proud is that all the organization’s operations depend on a solid base provided by Islam,” said Dr. Al-Khuwaiter. He added that IDB had become an example for many organizations to follow.
The opening ceremony was followed by the first session of the meeting entitled “IDB’s achievements and the Future Expectations”. The program ended with an open discussion and a dinner party for the guests. The meeting will continue its deliberations today after the guests return after performing Umrah.
