RIYADH: The Islamic Development Bank (IDB) and the World Bank are to use the rapidly growing Islamic finance market for infrastructure development projects through public-private partnerships (PPP).
The IDB recently organized a forum in Washington in partnership with the World Bank on this subject, IDB spokesperson Dr. Abdul-Hakim Elwaer told Arab News on Sunday.
IDB Vice President Dr. Mansur Muhtar represented IDB President Dr. Bandar Hajjar during the forum attended by IDB member countries.
“The IDB, in partnership with the World Bank, will work to unlock the potential of the $1.9 trillion Islamic finance market to mobilize resources for infrastructure development projects using public-private partnership (PPP),” Muhtar told the forum.
The IDB vice president made the statement based on a report, “Mobilizing Islamic Finance for Infrastructure-Public Private Partnership,” which was funded by the Jeddah-based development bank.
The World Bank suggested that the Islamic financial market has reached $1.9 trillion over the past six decades.
Elwaer said the aim of the forum was to create awareness about the potential for infrastructure development through PPP, especially in developing countries.
“This falls in line with the new development orientations of IDB member countries including Saudi Arabia, whose ambitious 2030 plan is targeting to increase the private sector’s contribution to the GDP (gross domestic product) from 40 to 65 percent,” he said.
He said the Kingdom aims to achieve this through increasing the use of PPPs and through the privatization of government entities.
Dr. Mahmoud Mohieldin, World Bank senior vice president on sustainable development goals, said: “One of the advantages that the IDB has in using Islamic finance is localization.
“The IDB has worked in many villages in its areas of operation, and has always demonstrated how localization helps in benefiting from Islamic finance.”
IDB, WB eye $1.9 trillion Islamic finance market
IDB, WB eye $1.9 trillion Islamic finance market
Saudi environment and water minister heads Kingdom’s delegation at World Water Forum
RIYADH: Saudi Arabia’s Minister of Environment, Water and Agriculture, Abdulrahman Al-Fadhli, is heading the Kingdom’s delegation participating in the 10th World Water Forum in Bali and will attend the high-level session, on behalf of Crown Prince Mohammed bin Salman.
The forum, inaugurated by Indonesian President Joko Widodo, kicked off Saturday and runs until May 25, with heads of state and government, ministers and officials from 180 countries, and 250 international organizations attending.
The Kingdom is participating with a high-level delegation representing the water sector, and will participate in an exhibition that highlights its efforts in developing the water industry through its regional and international contributions.
It will also organize a dialogue session on the sidelines of the forum in preparation for the Kingdom’s hosting of the 11th session of the World Water Forum in 2027 in Riyadh, under the slogan “Action for a Better Tomorrow.”
The Kingdom’s hosting of the event also comes as “confirmation of Saudi Arabia’s role in addressing water challenges around the world and its commitment to issues of environmental sustainability, based on what it has provided over decades of pioneering global experience in producing, transporting and distributing water and innovating technical solutions to its challenges,” the Saudi Press Agency reported.
The Kingdom has helped push water issues to the top of the international agenda, a move it adopted during its hosting of the G20 in 2020, and to put strategic plans to ensure water security, strengthen partnerships with global and scientific institutions, and build capacities at all levels, SPA added.
This year’s forum is being held under the slogan “Water for Shared Prosperity,” and will discuss several sub-themes, including water security and prosperity; disaster risk reduction and management; and hydro-diplomacy.
Tears of joy as American reunites with Saudi family after 40 years
- Relatives in Saudi Arabia say they ‘never lost hope’ they would one day find Eid Alsumani
- Eid and his older brother grew up in Alabama estranged from their father and other family members
JEDDAH: A four-decade long search has finally led to the heartwarming reunion of an US citizen with his Saudi family, putting an end to a painful era full of longing and searches that had long promised to end in disappointment.
Two-year-old Eid Alsumani, now 42, and his older brother’s American mother cut ties with the family for reasons that have not been revealed to the public.
She had met Saud Alsumani when he was a student in the US, after which they married and had two sons.
Following her return to Alabama with the boys, Eid’s mother cut all communication between them and their father, who returned to Saudi Arabia.
“Throughout that period of time, which lasted 40 years, members of the family were searching for their sons through the American Embassy ... (they) tried to search for the family several times, but no leads helped,” said Bander Alsumani, Eid’s cousin.
HIGHLIGHTS
• A video of Eid Alsumani’s reunion with his family at King Abdulaziz International Airport after 40 years of separation went viral on social media.
• For decades, the family had tried everything including seeking the help of the Saudi Embassy in Washington.
An English teacher at Abdullah Al-Thagafi High School in Jeddah, Bander told Arab News that his family did not lose hope in finding the lost brothers. “We just hoped they were alive.”
After decades of searches that yielded no results, their father died, never having reconnected with his sons. Their uncle, Khalid Alsumani, went to the US, determined to find his estranged nephews.
According to Bander, while the uncle sought the help of the Saudi Embassy in Washington, the perseverence of another member of the family paid off as they found Eid on Instagram.
“It was the happiest day for the family ... we all were in joy and happiness when we heard Eid is alive and coming back home with his uncle,” said Bander. The joy also came with the sad news that Eid’s older brother had already died.
Eid and his family were finally reunited on May 9, with many of them meeting their 42-year old relative for the first time.
I believe I will visit again in maybe six months. Inshallah, I will continue to learn more about my religion, Arabic, and my family.
Eid Alsumani, Found after 40 years
“It was the most wonderful feeling in the world … just couldn’t believe that the family had been reunited with (their) son after so many years,” said Bander.
A heartwarming video of Eid’s reunion with his family at King Abdulaziz International Airport after 40 years of separation went viral on social media.
When Eid appeared from passport control with his uncle, his cousins and relatives hugged him one after another tightly, shedding tears of joy.
The family hosted a gathering with various members of the family who came from all corners to meet the long lost son and celebrate the joyous occasion.
During the emotional reunion, Eid, dressed in traditional Saudi attire, expressed his immense happiness and relief at being reunited with his extended family.
A US citizen, Eid was raised in Alabama and currently resides in Florida having graduated with bachelor’s of science degree in history and nuclear engineering technology.
Speaking to Arab News after performing Umrah in Makkah, Eid described the scene at the airport as “unbelievable.”
He said: “It was surreal. It was the first time I had been in my fatherland.
“I was extremely excited about the blessings of seeing four family members who greeted me with the legendary hospitality of Saudi fame. It felt like a scene from a movie.”
Eid, who was raised by his mother with Christian values, has reconnected with Islam with the help of his Saudi relatives.
He described praying in the Grand Mosque in Makkah as an unforgettable moment in his life. “When I was in Makkah, I was amazed to see so many people from all over the world who were walking and praying together as one for the sake of Allah,” he said.
Speaking about his future in the Kingdom, he added: “Alhamdulillah, my stay has been extended for a few days … I believe I will visit again in maybe six months. Inshallah, I will continue to learn more about my religion, Arabic, and my family.”
Wildlife center to explore caves in Saudi Arabia’s north
- The program to explore biodiversity in caves was launched “due to its environmental significance and positive impact on wildlife”
RIYADH: Teams from Saudi Arabia’s National Center for Wildlife will begin examining various caves in the Northern Borders region as part of the Caves Exploration Program, which began in 2022.
It comes as part of a larger program that monitors ecosystems and biodiversity throughout the Kingdom.
These sites will be added to an international map of biodiversity and natural heritage hotspots as historical ecosystems and natural biological museums.
Dr. Mohammed Ali Qurban, CEO of the center, explained that the discoveries in the caves hold significant historical environmental value for Saudi Arabia.
“The cave ecosystems serve as a historical museum, providing evidence of the biological diversity that has existed in the Kingdom throughout various historical eras, as well as the spatial, environmental, and climatic changes in the Arabian Peninsula,” he explained.
The cave ecosystems serve as a historical museum, providing evidence of the biological diversity that has existed in the Kingdom throughout various historical eras.
Dr. Mohammed Ali Qurban, National Center for Wildlife CEO
Qurban added that these unique ecosystems provide a suitable environment for a wide range of organisms, as evidenced by the discovery of numerous skeletons of different types of mammals.
The program to explore biodiversity in caves was launched “due to its environmental significance and positive impact on wildlife.”
The center is currently completing studies on the targeted cave sites and documenting their importance within an integrated program.
According to Qurban, the center’s earlier discovery of several Arabian cheetah mummies in a cave in the northern part of the Kingdom — with some skeletons estimated to be over 4,000 years old — provided the first evidence of the species’ presence in the Kingdom.
Consequently, the center plans to develop a program for the resettlement of the Arabian cheetah in the Kingdom, enabling it to play a crucial role in maintaining environmental balance.
Qurban noted that, among other significant discoveries, researchers from the center discovered rare bats and the remains of several extinct animals.
The center is currently working on classifying these finds and determining their ages. This effort will facilitate the resettlement of these extinct species or their closest genetic relatives, thereby restoring their role.
The cave ecosystem is one of the rarest and most important of its kind in the world, recognized as natural heritage by UNESCO.
There are 1,826 caves in the Kingdom, consisting of underground passages and tunnels formed by natural processes in dry limestone areas — evidence of a historical era that experienced prolonged rainy climatic conditions.
Jeddah university opens maritime studies to women
- The university will set up a dedicated agency for female students within the maritime studies faculty as part of an initiative that aligns with Saudi Arabia’s Vision 2030
RIYADH: Jeddah’s King Abdulaziz University will enroll women in its maritime studies programs for the first time, the Saudi Press Agency reported on Saturday.
The university will set up a dedicated agency for female students within the maritime studies faculty as part of an initiative that aligns with Saudi Arabia’s Vision 2030, which encourages Saudi women to enter new professions, and aims to expand research and study opportunities in this field.
Faisal Al-Thobiani, dean of the faculty of maritime studies, said the move will harness women’s potential in the sector, increasing overall efficiency and sustainability.
The faculty will provide internationally recognized education and training in marine surveying and transport, helping to prepare Saudi professionals and support national economic growth.
Al-Thobiani said that increasing women’s participation will address workforce gaps in the Kingdom’s maritime industry in line with global trends.
Growing female involvement in the sector comes as Vision 2030 prioritizes women’s representation across various industries, he added.
Mauritanian president departs Jeddah after performing Umrah
JEDDAH: The President of Mauritania Mohamed Ould Ghazouani left Jeddah on Saturday.
He was seen off at King Abdulaziz International Airport by Makkah Deputy Gov. Prince Saud bin Mishaal bin Abdulaziz and several other officials, according to a report by Saudi Press Agency.
Ghazouani arrived in the Kingdom recently with an accompanying delegation to perform Umrah. He also visited the Prophet’s Mosque in Madinah and performed prayers there.
