ID :
20582
Mon, 09/22/2008 - 13:27
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Shortlink :
https://oananews.org//node/20582
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Abu Dhabi Fund for Development and Al-Hilal Islamic Bank sign MoU
Ajman, Sept 22, 2008 (WAM) - Abu Dhabi Fund for Development (ADFD) and Al-Hilal Bank have signed a memorandum of understanding to enhance mutual cooperation through a strategic partnership to provide mutual support, achieve cooperation in projects to which the Fund is a party and exchange technical expertise.
The move comes in line with the directives of HH Sheikh Mansour bin Zayed Al Nahyan, Chairman of Abu Dhabi Fund for Development and in support to the welfare policy of Abu Dhabi government that aims at providing economic support, ensuring local, regional and international development and encouraging cooperation between the private and public sectors within the efforts to realize the government's vision through its various bodies, including the ADFD and Al-Hilal Bank.
The MOU was signed by Mohammed Seif Al Suwaidi, Deputy Director General of ADFD and Mr. Mohammed Jameel Berro, CEO of Al Hilal Bank.
"The MOU signed with the Bank is a major step towards strengthening cooperation between the Bank and the ADFD," said Al Suwaidi.
"This cooperation benefits both parties in all areas of development and progress in target countries where the Bank will participate in financing the projects undertaken by the Fund as a partner to ADFD's projects and activities in developing countries. Supporting capabilities and achieving development in such countries is a mutual target of both parties. Therefore, such cooperation perfectly matches the vision and targets of the ADFD which are reflected in achieving sustainable economic development in developing countries," he said.
"The MOU marks the outset of cooperation with the ADFD, which is one of the most important governmental bodies in the UAE," said the CEO of Al Hilal Bank.
"The Fund aims at supporting regional and international efforts to realise development targets and activities all over developing countries," he said.
He added that this cooperation represents a continuation of the targets of Al Hilal Bank in upholding national as well as international efforts by backing the country's policies and programs to achieve development and economic progress at home and abroad.
The move comes in line with the directives of HH Sheikh Mansour bin Zayed Al Nahyan, Chairman of Abu Dhabi Fund for Development and in support to the welfare policy of Abu Dhabi government that aims at providing economic support, ensuring local, regional and international development and encouraging cooperation between the private and public sectors within the efforts to realize the government's vision through its various bodies, including the ADFD and Al-Hilal Bank.
The MOU was signed by Mohammed Seif Al Suwaidi, Deputy Director General of ADFD and Mr. Mohammed Jameel Berro, CEO of Al Hilal Bank.
"The MOU signed with the Bank is a major step towards strengthening cooperation between the Bank and the ADFD," said Al Suwaidi.
"This cooperation benefits both parties in all areas of development and progress in target countries where the Bank will participate in financing the projects undertaken by the Fund as a partner to ADFD's projects and activities in developing countries. Supporting capabilities and achieving development in such countries is a mutual target of both parties. Therefore, such cooperation perfectly matches the vision and targets of the ADFD which are reflected in achieving sustainable economic development in developing countries," he said.
"The MOU marks the outset of cooperation with the ADFD, which is one of the most important governmental bodies in the UAE," said the CEO of Al Hilal Bank.
"The Fund aims at supporting regional and international efforts to realise development targets and activities all over developing countries," he said.
He added that this cooperation represents a continuation of the targets of Al Hilal Bank in upholding national as well as international efforts by backing the country's policies and programs to achieve development and economic progress at home and abroad.
