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Saudi Arabia’s nominee for IsDB Group president receives unanimous approval

Saudi Arabia's nominee for IsDB Group president Dr Mohammed Sulaiman Al-Jasser

Dr Mohammed Sulaiman Al-Jasser nominee of Saudi Arabia to serve as the head of the Islamic Development Bank (IsDB) Group received unanimous approval of the Committee of Procedures, an affiliate of the Board of Governors (BoG) of the group.

Dr Mohammed Sulaiman Al-Jasser will serve for the next five years Dr Bandar M. H. Hajjar, following the final approval of the BoG.

Sardor Umurzakov, IsDB Chairman, Deputy Prime Minister and Minister of Investment and Foreign Trade of the Republic of Uzbekistan, has announced that the BoG has selected Al-Jasser as the new IsDB President for five years.

The BoG also adopted a resolution expressing profound gratitude to and appreciation of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud, and the Government of the Kingdom of Saudi Arabia, for the continuous support for IsDB Group since its inception.

The resolution also reflects recognition and appreciation of the BoG towards the excellent services provided by Hajjar, the outgoing President of IDB, and IsDB Group entities since he was elected.

The BoG Committee of Procedures chaired by Umurzakov had held a virtual meeting on Tuesday, 6 July 2021, to consider the candidacy of Al-Jasser for the position of IsDB president.

In that meeting, the Committee recommended the adoption of the draft resolution on the election Al-Jasser as the new IsDB President for the next five years. It also recommended the adoption of another draft resolution on addressing a letter of appreciation of and recognition to Hajjar. Both draft resolutions were circulated to the BoG members for adoption.

The new IsDB Group chairman served as the Kingdom’s economy and planning minister from 2011 to 2015, and as governor of the Saudi Central Bank (SAMA) between 2009 and 2011. He was also the vice governor and vice chairman of the SAMA’s board from November 1995 to February 2009.

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