RIYADH, Jul 19 (NNN-SPA) – The Islamic Development Bank (IsDB), said yesterday that, Saudi Arabia’s nominee, Muhammed Sulaiman Al Jasser, has been elected as its new president for the coming five years.
The election was confirmed by the IsDB Group General Secretariat, the IsDB said, in a statement on its website.
The IsDB Board of Governors (BoG) adopted a resolution, expressing profound gratitude and appreciation to Saudi Arabia, for its continuous support to the bank, since its inception, it said.
The BoG Committee of Procedures, held an online meeting on Jul 6, to consider the candidacy of Al Jasser for the IsDB presidency, to succeed Bandar Hajjar.
Located in Jeddah, the IsDB is a multilateral development finance institution, focusing on Islamic finance. Saudi Arabia is the largest single shareholder among the bank’s 57 shareholding member states.– NNN-SPA
