Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    MHRSD: 80% of recruitment offices are non-compliant with regulations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Alkhorayef praises advancements in Al-Kharj food industries sector    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    Police fatally shoot man at Toronto's international airport    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Super Max Verstappen scorches to pole with record lap in Jeddah    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



IDB Private Sector Forum fosters economic growth
Published in The Saudi Gazette on 19 - 05 - 2016

In the interest of further developing the private sector in member countries, the Islamic Development Bank (IDB) Group hosted the IDB Group Private Sector Forum in collaboration with Indonesia Investment Coordinating Board (BKPM) and Indonesia Chamber of Commerce (KADIN) at the Jakarta Convention Center. The event was held in conjunction with IDB Group 41st Annual General Meeting and was officiated by the CEOs of the Islamic Corporation for the Development of the Private Sector (ICD), the Islamic Corporation for Insurance of Investment and Export Credit (ICIEC), and the CEO of the International Islamic Trade Finance Corporation (ITFC) — Khaled Al-Aboodi, Oussama A.Kaissi and Eng. Hani Salem Sonbol, respectively.
The brainchild of IDB Group private sector entities which include ICD, ICIEC, ITFC along with the IDB Group Business Forum (THIQAH) and Investment Promotion Technical Assistance Program (ITAP), the forum involved engaging panel discussions which deliberated on the activities, roles and support that have been carried out in member countries, with focus on Indonesia.
The panel also touched on issues related to Islamic trade financing, investment challenges and export credit insurance. With the aim to further encourage economic and social development in Indonesia and in member countries, the forum convened the most relevant and knowledgeable thought leaders from business, academia and government to discuss present-day business environment and challenges, develop new insights and design innovative solutions to tackle pressing issues in the private sector.
The CEO of ICIEC Oussama A. Kaissi said "addressing huge infrastructure needs is one of the main focus of the IDB Group in Indonesia, aligned with the Indonesian government's target of supporting and improving infrastructure development. ICIEC is ready to facilitate and mitigate the risks of investors who are interested in bankable investment projects, particularly in infrastructure, in our member countries. ICIEC is open to coordinate with investors who are willing to invest in Indonesia as well as our member countries, and will offer protection by way of insurance of the export credit."
The CEO of ICD Khaled Al-Aboodi said "during this forum, we presented the second issue of ICD's Annual Development Effectiveness Report (ADER) which highlights our roles in supporting the development goals of our member countries. We hope this forum will successfully serve as a platform that strategically connects us with potential partners, business leaders, and investors to collaborate and take concrete steps in order to improve the economy and prosperity of Indonesia and our member countries."
Eng. Hani Salem Sonbol, Acting CEO ITFC, said "we believe that this forum will boost trade and investment among member countries and heighten public awareness on Islamic trade finance in Indonesia and globally. The changes in trade financing regulations in Indonesia encourages us to take real action in order to make adjustment to these changes, and provide Islamic Trade Finance solutions that contribute to the socio-economic development and growth in the country."
While development assistance has its limitations, the resources of the private sector can contribute significantly to development funding and sharing of experiences to help meet development objectives. The forum provides the setting to feature Indonesia's investment opportunities while renewing confidence and constructive cooperation between industry players and potential investors. BKPM and KADIN remains committed to facilitate investment opportunities and the dissemination of information among attendees during and after the forum.
The IDB Group Business Forum - THIQAH is the main window which acts as enabler and play facilitation and catalyst roles to connect the private sector institutions in IDBG member countries.
The main objective of THIQAH is to establish a unique and innovative platform for dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities.
THIQAH's vision is to position itself as the leading business platform of the IDB Group serving the private sector in member countries and maximizing the achievements of successful investment projects. The primary focus is on maximizing cross-border investments among IDB Group member countries, with the support of IDB Group's financial products and services.


Clic here to read the story from its source.