Prince Naif bin Abdulaziz, Crown Prince, Deputy Prime
Minister and Minister of Interior, honored SABIC for
supporting the Scientific Research Chairs Program of the
Imam Muhammad bin Saud Islamic University and extending
financial assistance to establish the SABIC Chair for
Islamic Finance Market Studies at the university. Mohamed
Al-Mady, SABIC Vice Chairman and CEO, received a trophy
in recognition of this support at the opening
ceremony of a seminar on "Salafism: A Shariah Approach
and National Demand" held at the university in Riyadh on
December 27.
Al-Mady expressed his happiness on receiving this honor
from the Crown Prince. He pointed out that SABIC is
strongly committed to support scientific research in the
Kingdom by way of funding various scientific research
chairs at Saudi universities. He added that establishing
the SABIC Chair for Islamic Finance Market Studies is
part of the company's enduring commitment to support
the development of innovative Shariah-compliant funding
and investment channels. Such Shariah-compliant funding
will add value to the Islamic financial markets - a
strategy pursued by SABIC's Corporate Social
Responsibility program.
While thanking Dr. Sulaiman Aba Al-Khail, Rector of Imam
Muhammad bin Saud Islamic University, for his hospitality
Al-Mady lauded the effective role played by the
university in conducting research to advance Saudi
Arabia's educational system. He stressed on the strong
research partnership between the company and the
university, which has resulted in the establishment of
the SABIC Chair for Islamic Finance Market Studies.
He hoped that the SABIC Chair will achieve its objective
of promoting the national financial and investment sector
to enable sustainable economic growth, develop the
financial markets, and offer even more innovative
Islamic investment products. The Chair will further seek
to help the Kingdom develop into an international center
for Islamic financial services, boost the global status
of the Kingdom in research and science, and encourage
Saudi scientists and researchers to contribute to
humanity.
SABIC signed the agreement for establishing the SABIC
Chair for Islamic Finance Market Studies with the Imam
Muhammad bin Saud Islamic University on November 15. The
agreement was part of the company's efforts to support
sustainable development in the Kingdom and develop a
knowledge-based economy.
