A+ A-

Kuwait keen to activate development role of Arab financial bodies -- Min.

Minister of Finance Nayef Al-Hajraf during the meeting
Minister of Finance Nayef Al-Hajraf during the meeting
KUWAIT, April 25 (KUNA) -- Kuwait's hosting of joint annual meetings of Arab financial bodies and Finance Ministers Council stresses the country's keenness on activating the development role of these bodies, Minister of Finance Nayef Al-Hajraf said on Thursday.
Speaking to reporters on the sidelines of the meetings, Al-Hajraf said these gatherings are a chance to highlight achievements made by every fund, institution and body alone, through presentation of their respective annual reports.
Meanwhile, Kuwait's Finance Ministry said, in a statement, the final statements of the FY ending on December 31 2018, the general budgets, activities and plans of these institutions were approved.
The meetings followed up implementing the decision by the Arab Economic and Social Development Summit hosted by Riyadh in 2013 on increasing the capital of financial institutions by 50 percent, it noted.
A working paper on developing social solidarity system to increase work opportunities and development in the Arab countries was discussed, it point out.
Also, the conferees dealt with a study on using modern financial technologies to develop tax services from the Organization for Economic Co-operation and Development (OECD).
Minister Al-Hajraf met with his counterparts from Jordan, Saudi Arabia, the UAE and Bahrain Izzeddin Kanakrieh, Mohammad Al-Jadaan, Obaid Humaid Al Tayer and Salman bin Khalifa respectively as well as Tunisian Minister of Development, Investment and International Cooperation Ziyad Al-Azari, and Egyptian development minister Sahar Nasr. They discussed the latest developments in the region and means of developing mutual cooperation. Al-Hajraf led the Kuwaiti delegation to the meetings that included some senior official at the Finance Ministry as well as Central Bank of Kuwait and Kuwait Fund for Arab Economic Development, the ministry said in a statement. (end) mka.tab.hm