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- Dubai 05:03 06:18 12:06 15:20 17:48 19:03
Obaid Humaid Al Tayer, Minister of State for Financial Affairs, is leading the UAE delegation to the two-day 35th Annual Meeting of the Islamic Development Bank (IDB) board of governors that began in Baku, Azerbaijan, yesterday.
The group includes Younis Haji Al Khouri, Director-General of the Ministry of Finance (MoF); Khalid Ali Al Bustani, Executive Director of International Financial Relations Sector; Al Hamdan Ahmed, Director of the International and Regional Financial Organisations Department at MoF, and other specialists.
UAE has a permanent seat on the Board of Executive Directors, a role occupied by Abdul Aziz Al Zaabi, CEO of Real Estate Bank. On the agenda is the election of the new president, constitution of an 18-member board of executive directors, allocating five per cent of IDB's expected net income in 2010 (at least $5 million or Dh18.36m) to technical assistance operations and the allocation of two per cent of the net income (at least $2m) to scholarships.
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