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ISLAMIC FINANCE

Saudi Islamic affairs body launches Endowment Investment Funds project
June 11, 2018

The General Authority of Islamic Affairs and Endowments (GAIAE) launched its first initiative, the Endowment Investment Funds project, on Sunday, to organize, maintain, and develop endowments and manage yields.
Through this project, GAIAE aims to contribute to achieving the financial sustainability of endowment and non-profit bodies and encourage the endowments sector to meet development needs.
Ahmed bin Sulaiman Al-Rajhi, chairman of GAIAE and minister"...

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IsDB President: “From a development bank into a bank of developers”
June 10, 2018

The Jeddah-based Islamic Development Bank (IsDB) will move hundreds of its staff outside Saudi Arabia and play a lead role in designing investment projects as the multilateral lender changes strategy under a new president.

With 57 member countries across four continents, operating assets of $16 billion and subscribed capital of $70 billion, the IsDB is a major lender to much of the Muslim"...

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OIC Secretary General Receives Australian Ambassador to Saudi Arabia
May 28, 2018

Secretary General of the Organization of Islamic Cooperation (OIC) Dr. Yousef bin Ahmed Al-Othaimeen received here today Australian ambassador to the Kingdom of Saudi Arabia Dr. Ralph King who bade farewell to the OIC Secretary General on the occasion of the end of his term.
During the meeting, they exchanged views on ways and means of strengthening the relations between OIC and Australia.
Dr. Al-Othaimeen commended the efforts exerted by the ambassador"...

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