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Saudi Arabia: Islamic Dev Bank elects Saudi nominee as new president

JEDDAH: Saudi Arabia’s nominee Mohammed Suleiman Al Jasser has been elected its new president for a five-year time period, the Islamic Growth Financial institution (ISDB) stated. In line with media studies, the ISDB Group Normal Secretariat formally confirmed the election on Sunday.

In line with an official assertion, the Islamic Growth Financial institution Board of Governors has adopted a decision expressing Saudi Arabia’s deep gratitude and appreciation for its continued assist to the financial institution since its inception. The Board of Governors’ Committee of Process held an internet assembly on 6 July to contemplate Al Jassar’s candidacy for the publish of ISDB President to succeed Bandar Hajar. Primarily based in Jeddah, ISDB is a multilateral growth finance establishment specializing in Islamic finance. Saudi Arabia is the most important single shareholder of the financial institution’s 57 member nations.

The election of Al-Jaser was introduced by the Chairman of the ISDB Board of Governors, Sardar Umurzakov, who can be the Deputy Prime Minister and Minister of Funding and Overseas Commerce of Uzbekistan, following the affirmation of the ISDB Group Normal Secretariat. The Board of Governors additionally adopted a decision expressing deep gratitude and appreciation for the Custodian of the Two Holy Mosques King Salman and the Saudi authorities for its continued assist to ISDB since its inception.

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