Jeddah –Saudi Arabia

Based on the tenth plan of Sheik Taher Azzawi Charity Organization STACO, which was launched since October 2016, which includes many charity development programs that support the humanitarian relief area, STACO’s chairman of the board of directors Mr. Salem Abd Al-Salam Al-Gamody and the legal consultant held a series of meetings with the management of the charitable Endowment  of the Islamic Development Bank in Jeddah, Saudi Arabia. As well as the Regional Director for the Middle East and North Africa, for the sake of finding the means for joint cooperation and holding charitable endowment projects which serve the necessary needs.

During the meeting, Mr. Al-Gamody assured that it is necessary for the organization to depend on its investment projects and sponsored income, to strengthen the necessary support to achieve economic and social stability, and continuous development.

It is worthy to note that the Islamic Development Bank is an International Financial Institution, established pursuant to a statement of determination issued by the Conference of Islamic State Ministers of Finance. The bank officially opened in October 1975, and has 56 member states including Libya.

The Islamic Development Bank aims to support economic development, and social advancement of the people of the member states and Islamic Societies of the non-member states, together and individual, in accordance to Islamic Sharia principles.