Dr. Ahmed Mohammed Ali, President of the Jeddah-based Islamic Development Bank (IDB), praised the interest of the Kingdom of Saudi Arabia in promoting the strategies and programs of the bank. Addressing the 29th annual meeting of the executive mangers of IDB, held in Tehran, Dr. Ali said the initiative of Crown Prince Abdullah bin Abdulaziz, the Deputy Premier and Commander of the National Guard, launched during the Organization of Islamic Conference 10th summit in Malaysia recently, aims at enhancing the financial resources of the bank. He described the initiative as highly significant and most important as it will boost cross-country investment and expand trade exchanges among the member countries. IDB is looking forward to instructions turning the initiative to a plan obligatory to all members, he said, noting that the organization's executive managers board has reviewed the initiative and it is on the agenda. Dr. Ali said the total finances accredited by the bank last year amounted to Islamic Dinar 2800 million, equivalent to nearly $4 billion, an increase of 10.2 percent over last year. --More 2213 Local Time 1913 GMT
