YANBU, 31 May 2007 — The Madinah branch of the Centenary Fund, which aims to enable Saudi young men and women to launch their own businesses, is ready for action with the completion of a SR5 million collection drive in the region.
Madinah Gov. Prince Abdul Aziz ibn Majed made this announcement at a meeting organized by the Yanbu Chamber of Commerce and Industry (YCCI) at its headquarters yesterday.
The YCCI arranged the function to introduce Yanbu businessmen to Centenary Fund officials. Ibrahim Al-Sultan, governor of Yanbu, Mansur Al-Ansari, Shoura Council member and chairman of the YCCI, and Hisham Tashkendi, director general of the fund, attended the function.
Prince Abdul Aziz said he hoped that more donations would be forthcoming as more meetings with businessmen in other cities in the region are planned for the coming days.
“We have completed today the collection of SR5 million, a minimum amount set for the fund. It also means we will be getting a matching amount from the main Centenary Fund. Thank God, the fund has become a reality,” the governor said.
The prince watched a visual presentation of the fund’s tasks and goals as well.
In his address, Mansur Al-Ansari said that the fund aims at creating employment opportunities for youngsters.
Speaking on the occasion, Hisham Tashkendi said a young man from Ahsa, Abdul Hafiz Al-Khenaizi, had the distinction of becoming a millionaire benefiting from the support of the fund. He was congratulated in a function attended by Prince Abdul Aziz ibn Abdullah, chairman of the board of trustees of the fund, a month ago, said Tashkendi.
“A total of more than 300 young men and women have received the fund’s assistance in the Kingdom so far,” he said.
