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Prince Saud Al-Faisal: King's Initiative To Hike Capital of Financial Institutions Will Provide $10 Billion
Saudi Press Agency Published in Saudi Press Agency on 22 - 01 - 2013

Prince Saud Al-Faisal, Minister of Foreign Affairs, said today that the initiative of the Custodian of the Two Holy Mosques, King Abdullah bin Abdul-Aziz Al Saud at the 3rd Arab Economic and Social Development Summit in Riyadh to increase the capital of Arab financial institutions and joint Arab companies by at least 50% came to provide support for them and enable them to expand their businesses and to strengthen the partnership between the public and private sectors with the commitment of the Kingdom of Saudi Arabia to pay its share of the increase that will be agreed upon.
This came in a statement made by Prince Saud Al-Faisal at the beginning of a joint press conference held today at the conclusion of the Summit at the Ritz Carlton Hotel in Riyadh in the presence of Minister of Finance Dr. Ibrahim bin Abdul-Aziz Al-Assaf and Secretary General of the Arab League, Dr. Nabil Al-Araby.
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