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King Abdulaziz University and Al Khabeer sign strategic cooperation agreement

Saudi Arabia: Thursday, November 13 - 2008 @ 13:36

The agreement was signed under the patronage of Dr. Osama Bin Saddiq Tayyeb, Chancellor of the University, and in the presence of Al Khabeer Executive Director: Ammar Bin Ahmed Shata and the undersecretaries of the University and Deans of Colleges.

The move promotes the principles of integration between the government and private sectors and underscores the importance of providing care and material support to specialised academic and scientific research in the field of banking services compatible with Shari’a laws. The agreement seeks to train and qualify national students of the Faculty of Economics and Administration in the specific fields of Islamic investment and financial services, while also outlining the framework of an investment fund to finance the future programs of the university.

The cooperation is also in line with the two parties’ commitment to cultivate joint initiatives between the private sector and educational institutions and organisations to nurture fresh talents for the Saudi employment market. The agreement is also in line with the University’s plan to increase field training programs for all its students in various specialised areas, realising the vision of the Custodian of the Two Holy Mosques King Abdullah Bin Abdulaziz and the future goals of the Saudi Government.

“We extend our thanks to Al Khabeer for this initiative. Al Khabeer is no stranger to us having been a constant supporter of our initiatives. They have also actually participated in various events and seminars organised by us in the field of Islamic investment and banking,”

said Dr. Tayyeb.

“This is a highly commendable move between the two parties as Al Khabeer commits to provide support to the activities of the university relevant to investment and funding initiatives according to Shari’a laws. This agreement reflects the two parties’ commitment to serve the society and help secure the future of Islamic banking services by enhancing our level of knowledge and expertise. We extend our thanks to the Chancellor of the University, Dean of the Faculty of Economics and the Administration for offering us this honourable role,” said Eng. Saleh Mohammed Bin Laden, Chairman of Al Khabeer.

Al Khabeer Merchant Finance Corporation is a prominent closed joint stock company, providing Islamic financial products and services in the KSA under the supervision of Saudi Financial Market. The company leverages its extensive resources and expertise to provide integrated financial and investment services. The company employs over 65 specialists and professionals in financial management and investment development, with half of the total workforce being Saudi nationals.

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Thursday, November 13- 2008 @ 13:36 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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