Saudi Saudi Arabia Jeddah
Proceeding from the ten-year plan of the Sheikh Al-Taher Al-Zawi Charitable Foundation STACO, which was launched since October of the year 2016, and which includes many charitable development programs that support the humanitarian relief aspect, the Chairman of the Board of Directors of STACO, Mr. Salem Abdel Salam Al-Qamoudi and the legal advisor, holds a series of meetings with the directors of the charitable endowment administration At the Islamic Development Bank in the Kingdom of Saudi Arabia, Jeddah, as well as the Regional Director for the Middle East and North Africa, in order to discuss ways of joint cooperation and establish charitable endowment projects that serve the required needs.
During the meeting, Mr. Al-Qamoudi stressed the need for the Foundation to rely on its investment projects and grazing income, to enhance adequate support to achieve economic and social stability and sustainable development.
It is worth mentioning that the Islamic Development Bank is an international financial institution, established in implementation of the Declaration of Intent issued by the Conference of Finance Ministers of Islamic Countries. The Bank was officially inaugurated in October 1975 AD. It includes 56 member states, including Libya.
The Islamic Development Bank aims to support the economic development and social progress of the peoples of the member states and the Islamic societies of the non-member states, jointly and individually, in accordance with the principles of Islamic Sharia.