Saudi Arabia will participate in the global economic crisis summit called by US President George W. Bush on Nov. 17, to present its perspective in helping shape a new global economic architecture that reflects new realities, a Cabinet statement said Monday. King Abdullah, Custodian of the Two Holy Mosques , who chaired the Cabinet session, has accepted an invitation from President Bush to attend the summit of G-20 countries and key emerging economies. During the summit, the Kingdom will present its take on the roots of the current financial crisis, Minister of Culture and Information Iyad Bin Amin Madani, said after the Cabinet session. Also, Saudi Arabia will stress on the need to review the method of monitoring international banks and the work and structures of world financial institutions, so as to reflect the global economic reality today, he was quoted by Saudi Press Agency (SPA) as saying. During the session, the Cabinet also heard a briefing from King Abdullah about his meeting with, among other leaders, British Prime Minister Gordon Brown who visited the Gulf countries over the weekend to bolster funding for an expanded International Monetary Fund for assisting countries crippled by the global crisis. Madani said the Council also reviewed the forthcoming United Nations General Assembly meeting on Nov. 14-15 in support of the initiative of King Abdullah on dialogue among the followers of monotheistic religions and cultures so that dialogue and emphasis on human commonality, ethical dimensions and family structure would become a framework for rapprochement, renunciation of violence, and solution-seeking for the current crises faced by the international community. Iyad Madani, Minister of Culture and Information, said the Cabinet looked at progress made in general, higher and technical vocational education and highlighted last Wednesday's inauguration of Princess Nourah Bint Abdulrahman University for Girls by the King, saying the event emphasized Saudi women's right to education. The event stresses the right of Saudi women to education, and comes within the general framework put forth by the King concerning safeguarding women's rights and boosting their role within the framework of the goals of the Islamic (law) Shariah and his orders to protect the rights of women and to prevent any violence against them. Then the Cabinet reviewed the topics on its agenda and took the relevant decisions. It authorized the Minister of Finance to conclude an agreement to bankroll the Yanbu project to produce 1,700 megawatts of electricity and 150,000 cubic meters of water per day, and also approved the establishment of Tatweer Holding Company to carry out the King Abdullah Public Education Development Project and additional development programs. The Cabinet further authorized the Minister of Interior and his deputy to hold discussions on memorandums of understanding for civil defense cooperation between the Kingdom and Egypt, Yemen and Tunisia. The meeting also approved a memorandum of understanding on political consultation between the Ministry of Foreign Affairs and its Algerian counterpart, which was signed in Algiers in March. According to the memorandum, annual meetings headed by the two foreign ministers will be held in their respective capitals as the need arises. The Cabinet also approved the reformation of the Financial Disputes Appeals Committee for a period of three years, with Ahmad Bin Muhammad Al-Khowaiter from the Finance Ministry assuming the presidency, and Prince Abdulrahman Bin Mohammad Bin Ayaf from the Council's Board of Experts and Abdulaziz Bin Rashed Bin Klaib named members. __
