Islamic Development Bank Group to Hold 36th Annual Meeting Governors in Jeddah

JEDDAH, Saudi Arabia, June 26, 2011 (GLOBE NEWSWIRE) — Islamic Development Bank (IDB) Group in Jeddah is making preparations for its 36^th annual Governors Meeting to be held under the patronage of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz.

Ministers of Finance, Economy and Planning from 56 IDB member countries will participate in the meeting which will take place in Jeddah, KSA, 26-30 June, 2011.

Several high profile events feature on the agenda of the upcoming IDB Board of Governors Meeting including: holding the 276^th session of General Directors; the signing of a large number of agreements with IDB member countries; a number of important seminars; and the presentation of awards to this year’s winners in the field of Islamic banking and financial services as well as other awards for promoting the role of women in development.

The meeting precedes the 6^th Global Forum on Islamic Finance on June 27, 2011, which will cover enhancing the liquidity and size of Islamic financial institutions, followed by several seminars on June 28, the most prominent of them being the joint seminar between the Association of National Development Finance Institutions in IDB Member Countries and other national development financing institutions. The gathering will be addressing the role that development financing institutions play in job creation. Other concurring events focus on economic empowerment and youth employment in Palestine and the impact of the recent events in the Arab region on the consulting sector in IDB member countries.

The events are to conclude with a meeting with the IDB African Governors’ Group on the Special Program for the Development of Africa (SPDA).

Meanwhile, IDB Group entities are also to hold meetings in conjunction with the annual Governors’ Meeting including: the 18^th annual meeting of the Board of Governors of the Islamic Corporation for Insurance of Investment and Export Credit (ICIEC); the 4th annual meeting of the Board of Governors of the Islamic Solidarity Fund for Development (ISFD); the 11th General Assembly meeting of the Islamic Corporation for the Development of the Private Sector (ICD); and 6th General Assembly of the International Islamic Trade Finance Corporation (ITFC).

The IDB 22nd Annual Symposium on “Addressing Unemployment and Underemployment in Member Countries in the Post-Crisis World” on June 29, 2011 and the annual Supreme Council for Al Aqsa and Al Quds Funds meeting on June 30^th are amongst other functions taking place during the series of events. In addition, other key institutions such as the Association of National Development Finance Institutions in IDB Member Countries, the Federation of Consultants from Islamic Countries, and the Federation of Contractors from Islamic Countries will have their meetings convened alongside the main event.

About IDB

Islamic Development Bank is an international financial institution that aims to uphold the economic development and social advancement of all Member Countries and the Islamic communities in the non-Member Countries in accordance to Shariah. The Bank has been established upon the Declaration of Intent issued by the conference of the finance ministers of Muslim countries that was held in Jeddah in Shawwal 1393, December 1973. The Bank officially commenced operations in the 15^th of Shawwal 1395, 20^th of October 1975.

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