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
 Jan 27 2015 - More Emirati students join Qasr Al Hosn Festival AmbassadorsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) More than 250 university students from across the Emirate of Abu Dhabi will be selected to act as the Qasr Al Hosn Festival Ambassadors during this year's ...

 Jan 27 2015 - DXB takes over top spot for international passenger trafficEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dubai Airports today released its year-end traffic report which confirm that Dubai International Airport, DXB, has secured its position as the number one airport ...

 Jan 27 2015 - New Abra services in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) A new water taxi service using a traditional wooden abra has been launched to connect two of Abu Dhabi's prime waterfront tourist destinations. Passengers can ...

 Jan 27 2015 - EGA Golfers to rub shoulders with world's best at omega Dubai Desert Classic Pro-AmEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) A select group of golfing guests of Emirates Global Aluminium, EGA, will enjoy one of the most memorable playing experiences of their lives when they compete in ...

 Jan 27 2015 - OPEC daily basket price for Monday announcedEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The price of OPEC basket of twelve crudes stood at US $42.90 a barrel on Monday, compared with US $43.69 the previous Friday, according to OPEC Secretariat ...

 Jan 27 2015 - Over one million Umrah performers cross King Abdulaziz International Airport within 45 daysEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) JEDDAH, 27th January, 2015 (WAM) - The number of Umrah performers arriving and departing from King Abdulaziz International Airport in Jeddah since the start of ...

 Jan 27 2015 - UNDP issues new development report spotlighting string of successes in Asia-Pacific regionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The United Nations main development programme has spotlighted its string of successes in 36 countries and territories in the Asia and Pacific region in the areas ...

 Jan 27 2015 - ADES 2015 to run from 18th to 21st March at ADNECEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOME Exhibitions today announced the third edition of Abu Dhabi Electronics Shopper, ADES 2015, the largest consumer electronics exhibition in Abu Dhabi, will ...

 Jan 27 2015 - GCC Secretary-General meets with UN officialEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Dr. Abdullatif bin Rashid Al-Zayani, GCC Secretary-General has met with Ashok Nigam, UN Resident Coordinator and Resident Representative of the United Nations ...

 Jan 27 2015 - Saudi- Dawn of a new era under King SalmanArab News
(MENAFN - Arab News) A new era dawned in Saudi Arabia on Monday under the leadership of Custodian of the Two Holy Mosques King Salman as citizens across the country expressed their confidence in the ...

more...


 






Google

Internatinal Property Show

 
 

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