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IDB Chief, Bear Discuss Cooperations

Arab News
February 13, 2011
Jeddah, Saudi Arabia

Islamic Development Bank (IDB) President Ahmad Mohamed Ali held a meeting with the Lord Mayor of the City of London, Alderman Michael Bear, and his accompanying delegation at the IDB headquarters here on Saturday.

Ali, who stressed the importance of the annual coordination meetings between the two parties, commended the tangible development of IDB relations with the business community in London, which poses an international hub for Islamic finance.

For his part, the Lord Mayor of London expressed his keenness to promote relations with IDB in mutual concerns, especially Islamic finance, and reviewed the projects geared toward the development of Islamic community in London.

IDB Vice President Abdul Aziz Al-Hinai gave a review on the IDB sukuk issuance program and noted that London presented a very important road show center for these programs. He discussed the bank's plan for issuing sterling denominated sukuk.

The two parties expressed desire to coordinate respective activities in education and poverty alleviation. They also touched on IDB relations with the Princesses Trust Mosaic Charity Program, Department for International Development and cooperation with British universities.


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