Minister praises IDB accomplishments

The board of governors of the Islamic Development Bank (IDB) concluded its 26th session on the 24th October 2001.

Dr Ibrahim bin Abdul Aziz Alassaf, Minister of Finance and National Economy and the Kingdom's Governor to the bank and the Head of the Saudi delegation to the session, delivered a speech in which he praised the distinguished accomplishments of the bank in serving Islamic countries and enhancing cooperation between them in the economic, commercial and investment fields.

Dr Alassaf noted that the proposal of Crown Prince Abdullah bin Abdul Aziz, Deputy Premier and Commander of the National Guard, at the Islamic summit in Qatar in 1421h, to significantly increase the capital of the bank, demonstrated the Kingdom's keenness to uphold the noble message of the bank.

The conference issued a number of decisions, notable among them the increase of the bank's capital from 6 to 15 billion Islamic Dinars.