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Islamic Development Bank sets out roadmap to promote Arab-African trade

March 5, 2017

Riyadh, Mar 5: The Islamic Development Bank (IDB) is developing a roadmap to strengthen Arab-African trade over the next three years, according to Hakim Elwaer, IDB’s official spokesman.

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The roadmap includes identifying business opportunities and the areas of finance, building logistics platform, supporting trade, credit and insurance, and developing the necessary infrastructure to facilitate trade.

IDB President Bandar Hajjar and Mamoun Buhedod, minister delegate to the Ministry of Industry, Trade, Investment and Digital Economy in Morocco, inaugurated the Arab-African Trade Bridges (AATB) forum held in Rabat last month.

IDB’s support for development programs and infrastructure projects in Africa has reached more than $43 billion, which included funding for projects in infrastructure, according to IDB’s website.

Hajar added that the volume of trade financing granted to Arab and African member countries since the establishment of the International Islamic Trade Finance Corporation (ITFC), which is IDB’s trade financing arm, has reached about $15 billion.

This is in addition to cooperation with many strategic partners to design and implement programs for the development of trade among member countries.

Hajar urged Arab and Sub-Saharan African countries to take advantage of capacity development programs to be available thanks to the “Arab-African Trade Bridges” program over the next three years.

The participants in the forum and side events included trade ministers, directors of trade promotion agencies, presidents of the chambers of commerce and industry representing OIC Arab and Sub-Saharan African member countries as well as international financial institutions and banks.

A number of memorandums of understanding were signed between the main participants during the forum’s inauguration ceremony.

The initiative of the “Trade Bridges between Arab and Sub-Saharan African countries” forum was proposed by the ITFC during the seventh meeting of the Coordination Group to support cooperation in the field of foreign trade and export credit.

Besides ITFC, the Coordination Group includes the Arab Bank for Economic Development in Africa (BADEA), the Islamic Corporation for the Insurance of Investment and Export Credit (ICD), the Arab Trade Financing Program, the Arab Monetary Fund, the OPEC Fund for International Development, the Saudi Fund for Development and the Arab Investment & Export Credit Guarantee Corporation.

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News Network
March 21,2020

Mar 21: Qatari authorities arrested 10 nationals for breaking home quarantine rules as Doha tightens regulations amid the coronavirus outbreak, local daily The Peninsula Qatar reported on Saturday.

The Ministry of Public Health released a statement naming the detainees and said that the violators were currently being referred to prosecution.

The tiny country, where expatriates comprise the majority of the population, on Thursday reported eight more infections to take its tally to 470, the highest number among the six Gulf Arab states that have reported a total of more than 1,300 coronavirus cases.

Government spokeswoman Lulwa Rashed Al-Khater told a news conference the new cases included two Qataris who had been in Europe, with the rest migrant workers.

Qatari authorities on Tuesday announced the closure of several square kilometers of the industrial area in Doha, the capital, which also contains labor camps and other housing units.

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Agencies
July 22,2020

Riyadh, Jul 22: Saudi King Salman held a cabinet meeting via video call from hospital in the capital Riyadh on Tuesday, a day after the 84-year-old monarch was admitted with inflammation of the gall bladder.

Three Saudi sources said the king was in stable condition.

A video of the king chairing the meeting was broadcast on Saudi state TV on Tuesday evening. In the video, which has no sound, King Salman can be seen behind a desk, wordlessly reading and leafing through documents.

The king, who has ruled the world’s largest oil exporter and close US ally since 2015, was undergoing medical checks, state media on Monday cited a Royal Court statement as saying.

Three well-connnected Saudi sources who declined to be identified, two of whom were speaking late on Monday and one on Tuesday, said the king was “fine”.

An official in the region, who requested anonymity, said he spoke to one of King Salman’s sons on Monday who seemed “calm” and that there was no sense of panic about the monarch’s health.

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News Network
May 31,2020

Dubai, May 31: As many as 84 beggars have been arrested in Dubai during the Eid Al Fitr holiday, the Dubai Police have said.

The arrests were carried out as part of their anti-begging campaign to prevent begging during the holy month of Ramadan.

Some illegal vendors, too, have been arrested in different areas of the emirate, the police added.

Colonel Ali Salem, Director of the Infiltrators Department at the Criminal Investigations Department of Dubai Police, said that the campaign aims to maintain the safety and security of the society, adding that the campaign was successful and helped reduce the number of beggars across the emirate.

He called on the public to report begging activities to the number 901 or the Dubai Police app.

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