Hamdan bin Rashid heads UAE delegation to meetings of Board of Governors of Islamic Development Bank Group

DUBAI: H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance will head the UAE delegation to the Meetings of the of Board of Governors of Islamic Development Bank Group (IDB Group), which will be held in Jeddah, Saudi Arabia, on Tuesday, and attended by representatives of 56 states, members of the Board of Governors.

The U.A.E. delegation includes Dr. Rashid Ahmed bin Fahd, Minister of Environment, Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, Saeed Mohammed Al Kindi, Ahmed Humaid Al Tayer, Younis Al Khouri, Under-Secretary of the Ministry of Finance and a number of officials.

Sheikh Hamdan expressed his pride about the convention Annual Meeting of the Board of Governors of the Islamic Development Bank (IDB), citing the successes scored by the IDB over the last 40 years and efforts exerted to craft it in the map of international development.

Marking the 40th anniversary of the IDB, he expressed his pride in the progress and diversity of the IDB activities that had positive impact on the development of member states.

The IDB was established in pursuance of the Declaration of Intent issued by the Conference o Finance Ministers of Muslim Countries held in Jeddah in December 1973. The inaugural meeting of the Board of Governors took place in July 1975, and the bank was finally opened in October 1975. The purpose of the bank is to foster the economic development and social progress of a number of countries and Muslim communities individually and collectively in accordance with the principles of Shariah (Islamic Law).