IDB Group appoints Al-Wohaib as ISFD chief

RIYADH, Jan 2 (KUNA) -- The Islamic Development Bank (IDB) Group has announced appointing Dr. Waleed Al-Wohaib as Director General of its poverty-alleviation arm, the Islamic Solidarity Fund for Development (ISFD).
Al-Wohaib was the Chief Executive Officer of the IDB's trade-financing arm, the International Islamic Trade Finance Corporation (ITFC) till the end of December 2015.
He took part in founding and managing the ITFC since it was established in 2007.
IDB President Dr. Ahmad Mohamed Ali Al Madani announced the appointment during a ceremony attended by the Group's senior officials.
He said that Al-Wohaib had realized great achievements, namely founding and running the ITFC that has come to be a major institution for fostering trade among the member states.
A top ITFC achievement under Al-Wohaib was its effective efforts to realize the goal it was established for, boosting the trade among member states of the Organization of Islamic Cooperation (OIC), from 13 percent in 2013 in 2005 to 19.3 percent in mid-2014.
This is close to the target of 20 percent in 2015, as defined by the 10-year program of action adopted by the Third Extraordinary Session of the Islamic Summit in Makkah, 2005, to meet the challenges facing the Muslim Ummah in the 21st century, Al Madani said.
Addressing the ceremony, Al-Wohaib said that he would do his best to fulfil his "great" mission.
Previously Al-Wohaib occupied the post of Undersecretary of Kuwait's Ministry of Trade and Industry in 1994, and was also Secretary General of the Manpower and Government Restructuring Program.
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