25 February 2010
JEDDAH: The private sector arm of the Islamic Development Bank Group (IDB) has signed a memorandum of understanding (MOU) with Bab Rizq Jameel (BRJ) to promote private enterprise growth and stimulate job creation.

At its headquarters, the Islamic Corporation for the Development of the Private Sector (ICD) will work with BRJ, sharing expertise related to funding and supporting small and medium enterprises (SMEs) in the Kingdom and abroad.

Khaled Al-Aboodi, CEO and general manager of ICD, and Saad Alghamdi, deputy CEO of Abdul Latif Jameel Co. Ltd. (ALJ), signed the MOU.

BRJ is part of Abdul Latif Jameel Community Services Programs (ALJCSP) and an extension of the services that ALJCSP has been offering since its inception in mid-2003. BRJ directly focuses on job creation and funding startup projects for youths.

© Arab News 2010