Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

IDB plans to set up center of excellence in Kuala Lumpur  Join our daily free Newsletter

MENAFN - Arab News - 21/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The Jeddah-based Islamic Development Bank, which will celebrate its 40th anniversary in 2014, has brought about positive changes to the lives of millions of people around the world, said Ahmed Mohamed Ali, president of IDB.

"This is one of the bank's greatest achievements," he told a high-level forum in Kuala Lumpur that was organized to discuss the IDB's future strategies.
Ali emphasized the need to transform the bank's futuristic vision taking into consideration the speedy global changes as well as the economic growth achieved by member countries during the past years.
"We welcomed proposals for the development of IDB from member countries, international organizations and representatives of the private sector and civil groups. We also welcome their assessment of the bank's performance during the past 40 years," the president said.

Plans are under way to set up the Islamic Banking Center of Excellence in Kuala Lumpur, which will enable IDB to provide a myriad of Islamic banking products and offerings that include research and development in innovation, capacity building, knowledge sharing and liquidity management.
"Malaysia welcomes a proposal by IDB to build their office in Malaysia. We are pleased to offer a strategic location at the Tun Razak Exchange," Malaysian Second Finance Minister Ahmad Husni Hanadzlah said.
"The Malaysian government has always viewed IDB not only as an international institution, but also as a partner in charting the country's growth," Hanadzlah said.Mohd Irwan Serigar Abdullah, secretary-general to the Malaysian Finance Ministry, said the project was still in the beginning stage.

"We are just starting the discussions. We are also talking to 1Malaysia Development Bhd that owns the Tun Razak Exchange... they will be coming up with the conceptual plan for the center. In fact, we will hand in the concept papers during our meeting with IDB next week," he said.
The IDB president expressed his optimism about the collaboration and foresees more regional centers of excellence once the plan becomes a success.
"It will be the first of its kind and we are choosing Malaysia as our center in Southeast Asia, given its incredible strength of Islamic banking. The center of excellence will mitigate Islamic banking deals not only in Malaysia and Southeast Asia, but also to the greater part of the world," he said.
The IDB group comprises five entities, which include the Islamic Corporation for the Development of the Private Sector (ICD) and the International Islamic Trade Finance Corporation (ITFC).

Both entities are excited about the development of the regional center.
"We look forward to the development of the center. We will be able to showcase our full offerings and get in touch with more investors," said Khaled Al-Aboodi, CEO of ICD.
Hani Salem Sonbol, ITFC's deputy CEO, is also optimistic.
"By having a center of excellence here, we will be able to conduct thorough knowledge-sharing activities with Malaysia and can adopt its superior knowledge in governance and liquidity management for use in other member countries," he said.

 


Arab News




  MENA News Headlines
 Jun 30 2015 - Major Movers: Capital Lease Aviation Mountfield Group Motive TV San Leon Energy Wim SinclairProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Below are some of the main news-driven share price changes at 10.30am. RISERS Capital Lease Aviation (LON:CLA) up 12.4%. The commercial passenger aircraft leasing company ...

 Jun 30 2015 - UPDATE - Northcote Energy starts new well at Shoats CreekProactiveInvestors - UK
(MENAFN - ProactiveInvestors)-ADDS DETAIL FROM FINANCIAL RESULTS STATEMENT- Northcote Energy (LON:NCT) has begun drilling operations on a new well at the Shoats Creek property in Louisiana. The ...

 Jun 30 2015 - Obtala puts a little more meat on the bones of divestment planProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Obtala Resources (LON:OBT) said its strategy for 2015 will revolve around spinning out the timber business from the farming and retail businesses in order to realise more ...

 Jun 30 2015 - SolGold sees consistent copper shows in latest hole at CascabelProactiveInvestors - UK
(MENAFN - ProactiveInvestors)SolGold's (LON:SOLG) final assays from the eleventh hole at Cascabel showed copper indications continued over the final 600m. A bulk interval of 636m at 0.58% copper and ...

 Jun 30 2015 - Jubilee pays second tranche for DCMProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Jubilee Platinum (LON:JLP) said it had handed over the second of three share-based payments for the DCM project in South Africa for £207000 as it revealed it has received ...

 Jun 30 2015 - Madagascar Oil poised for catalysts as Tsimiroro advancesProactiveInvestors - UK
(MENAFN - ProactiveInvestors)It is very rare for a company as small as Madagascar Oil (LON:MOIL) to have a resource as large as Tsimiroro so says recently appointed chief executive Robert Estill. ...

 Jun 30 2015 - Sula expects gold trench results within three weeksProactiveInvestors - UK
(MENAFN - ProactiveInvestors)Sula Iron & Gold (LON:SULA) expects to report recent gold programme results from its Ferensola project in Sierra Leone in coming weeks as discussions continue it said ...

 Jun 30 2015 - Dubai plans to build 3 D printed office buildingArab News
(MENAFN - Arab News) DUBAI United Arab Emirates: Fast-growing Dubai where something new is always being added to the skyline may have found a way to make construction move even faster. The Gulf ...

 Jun 30 2015 - Top Philippine police chief 10 others ordered dismissed over contractArab News
(MENAFN - Arab News) MANILA Philippines: The Philippines' anti-graft prosecutor on Tuesday ordered the national police chief and 10 other officers dismissed from the service for approving a contract ...

 Jun 30 2015 - Al Omaniya to acquire United FinanceMENAFN
(MENAFN) Al Omaniya is set to submit a full acquisition offer for Oman's United Finance, a deal which UF's board has been considering for a while, Reuters reported.Last month, United Finance asked ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help