UAE well positioned to serve IDB's goals: Hamdan bin Rashid

Dubai (WAM): H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance has said the UAE was keen on becoming an effective founder of the Islamic Development Bank since its inception in 1973. Addressing a ceremony held this evening to mark IDB's 40th anniversary and the start of its council of governor’s annual meeting, Sheikh Hamdan said as the capital of Islamic banking, the UAE is well positioned to further contribute in the development of the IDB and realization of its goals in supporting economic and social development in the member countries. He thanked the Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz Al Saud for lending patronage to the meeting and to the anniversary celebrations. High on the meeting's agenda is the report evaluating the IDB performance throughout the past four decades, as well as an implementation of the council of governors’ decision to increase the bank's authorized capital from 30 billion Islamic Dinar to 100 billion. – Emirates News Agency, WAM