IFSWF Chairman Welcomes Doha Agreement

Doha, November 20 (QNA) - Bader Al-Sa'ad, chair of the International Forum for Sovereign Wealth Funds (IFSWF) and chairman and managing director of Kuwait Investment Authority, welcomed the signing of the Doha Agreement as a "quantum leap." In his speech ahead of the opening session of IFSWF sixth annual meeting, Al-Sa'ad said the forum, under the Doha Agreement, has become an independent legal entity with its own resources, headquartered in London and no longer working under the umbrella of the International Monetary Fund. He expressed pleasure at meeting HH the Emir Sheikh Tamim bin Hamad Al-Thani, explaining that HH the Emir stressed the need for sovereign funds to work in a professional fashion where political decisions do not affect the technical ones. Since its establishment, IFSWF members have been keen that sovereign funds enjoy independence in their activities and operate in accordance with prudent governance systems, uninfluenced by politics, Al-Sa'ad said. (QNA)