Minister of Finance Dr. Mohamed Shafeeq has engaged in crucial discussions regarding financial assistance and strengthening the financial system of the nation. The discussion was held during his visit to the Kingdom of Saudi Arabia, to participate in the annual meeting of the Islamic Development Bank.
During the official visit, Minister Dr. Shafeeq, accompanied by the Minister of Islamic Affairs Dr. Mohamed Shaheem Ali Saeed held important discussions with several officials of various financial administrations. This includes the OPEC fund, Saudi Development Fund and the Islamic Development Bank.
The meeting held with the Acting Director General of the Islamic Development Bank was regarding on measures to enhance and advance the field of Islamic Finance. The meeting shed light on the significance of developing human resources and youth cooperation, which are vital for development.
Meanwhile, the discussions held with the President of the OPEC Fund for International highlighted the successful projects completed with the assistance of the fund and discussed areas of development which required financial support.
Additionally, government officials held meetings with the Chief Executive Officer (CEO) of Saudi Fund for Development, in which information was provided between the two parties regarding the projects ongoing with the assistance of the fund.
While efforts are underway to strengthen financial relationships with other financial administrations, the government has formulated plans for several developmental projects. This includes developing international airports, urban centres and other projects to bolster economic growth. With the efforts exerted to expand the economy, the government is also striving to increase investments in various sectors.