UAE participates in IDB meetings in Jakarta

The UAE is participating in the 41st Annual Meeting of the Islamic Development Bank, IDB, Group Board and meetings with affiliated institutions, which will be held in Jakarta, Indonesia, from 17th to 19th May.

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, will head the UAE delegation which includes Khalid Ali Al Bustani, Assistant Under-Secretary of International Financial Relations at the Ministry of Finance, MoF, and a number of heads of departments and other officials of the Ministry.

The Annual Meeting will be held in the presence of Dr. Ahmad Mohamed Ali Al-Madani, IDB Group President, IDB board of governors from finance and economic ministries, as well as general managers of Arab Islamic financial institutions, representatives from the International Monetary Fund, IMF, and the World Bank, in addition to financial and economic experts.

Al Tayer stressed the importance of the UAE’s participation in the annual meetings of the IDB Group, as it offers a platform to discuss financial and economic plans and develop future strategies in order to achieve and support the sustainable economic development and reduce poverty and unemployment in all IDB member countries and the Islamic world.

The 41st Annual meeting of IDB will discuss a number of topics, particularly the 41st IDB annual report, the approval of annual audited accounts for IDB and Endowment Fund in 1436H (2014-2015), selecting the external auditors for IBD, Waqf Fund and Awqaf properties investment fund as well as Waqf international organisations. A percentage of IDB’s net income will be allocated for technical assistance operations and scholarship programmes for bright students in member countries, and Islamic financial services industry for 1436H (2014-2015).

Source :WAM