Arab Fund to Allocate 10 Persent of Profits to Palestine

Arab Fund for Economic and Social Development logo.

Rabat, 22 Rajab 1438/19 April 2017 (MINA) — The Arab Fund for Economic and Social Development approved a suggestion by Kuwait to allocate 10 percent of the Fund’s net profits in 2016 to the efforts to support the Palestinian people.

The funding will be deposited at Palestine’s account at the Arab Fund, KUNA reported, citing according to a statement issued by the Fund following the meeting of its board of governors here on Tuesday.

The conferees tasked the Fund’s board of directors with working out the necessary arrangements for managing the funding part of which will be channeled to Al-Aqsa Fund and Al-Qods Committee.

The Fund’s board of governors opened their meeting earlier today on the fringes of the meetings of heads of Arab financial institutions and the council of Arab ministers of finance. Kuwait is a board member.

Deputy Prime Minister and Minister of Finance Anas Al-Saleh leads Kuwait’s delegation to the meetings. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)