Press Release

OFID sponsors the FIKR 8 Conference of the Arab Thought Foundation

51/2009 December 10, 2009 Kuwait, Kuwait
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The OPEC Fund for International Development (OFID) concluded its active participation at the Annual FIKR Conference, the flagship of the Arab Thought Foundation. The conference, currently in its 8th year, brings together leading policy-makers, the private sector, NGOs and regional thought-leaders to tackle pressing issues through constructive dialogue. This year’s theme entitled Integrating Arab Economies; Partners for Prosperity centers attention on the economic issues confronting the Arab region.

The conference focused on several crucial issues; economic integration and trade protectionism; prospects for trade and monetary union, food security and global agriculture, Arab corporate social responsibility and the role the private sector plays in combining business priorities with social development goals. Further topics of discussions revolved around Islamic finance as well as an over-arching focus on the region’s youth. The keynote address in the opening session was delivered by HRH Prince Khalid Al Faisal, Chairman, Arab Thought Foundation and Governor of the Makkah Province in Saudi Arabia.

Mr. Suleiman J. Al-Herbish, Director-General of OFID, headed a delegation to participate at the FIKR 8 Conference. OFID was a gold sponsor of the event and additional activities surrounding it. The Arab Thought Foundation is an International independent non-profit and NGO formed in 2001 as an initiative developed collaboratively between the business community, academics and the civil society to provide valuable discussions revolving around the Arab World. OFID cooperation with the Arab Thought Foundation began in 2006 through its Grant financing window.