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IDB Launches ‘Thiqah’ Business Forum
JEDDAH — The Islamic Development Bank, or IDB, has launched its business forum called ‘Thiqah.’
Addressing a ceremony organised by the bank to launch the forum, Finance Minister Ibrahim Al-Assaf highlighted IDB’s endeavours to boost the socio-economic development of
member countries.
He commended the efforts of the IDB in strengthening partnerships with the private sector. “IDB is considered a pioneer in promoting partnerships with the private sector. It began trade financing more than three decades ago and has lately seen some multilateral financial organisations, giving importance to this side, especially in the wake of global financial crisis,” Al-Assaf said.
He said the launching of Thiqah shows the bank’s desire to make innovations and adapt to the requirements of member countries. He said the Islamic Corporation for the Development of the Private Sector, or ICD, an affiliate of the IDB group, could play a vital role in mobilising investors in member countries. Khaled Mohammed Al-Aboodi, CEO and general manager of ICD, said Thiqah will play a greater role in the development of new partnerships and innovative products.
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