KUWAIT: Acting Assistant Undersecretary of the Kuwaiti Ministry of Finance for Economic Affairs Talal Al-Nimsh confirmed on Thursday that Kuwait is the second largest stakeholder in the organization of Islamic Cooperation after Saudi Arabia, explaining that the percentage of Kuwait’s contribution to the organization is 9 percent.

This was stated in a statement made by agent Talal Al-Nimsh to the Kuwait News Agency (KUNA) at the end of his chairmanship of the Kuwait delegation participating in the meeting of the extraordinary session of the permanent finance committee at the OIC General Secretariat, which was held at the OIC headquarters in Jeddah.

He expressed the commitment of Kuwait to pay its mandatory contributions to the Organization of Islamic Cooperation and its subsidiary organs in order to assist it in carrying out its tasks. He pointed out that the meeting approved the budgets of the General Secretariat and its subsidiary bodies for the fiscal year 2024, in addition to referring administrative issues to the next meeting of the Standing Finance Committee at its regular session.

On a related note, the OIC permanent financial committee approved at its meeting a draft resolution approving the budget of the General Secretariat and its subsidiary bodies for the fiscal year 2024 in accordance with the financial rules and regulations of the organization and requesting that the General Secretariat and its subsidiary bodies rationalize their expenses and urge efficiency and cost-effectiveness in their financial and administrative operations. The meeting was launched at the headquarters of the organization of Islamic Cooperation and concluded its work on Thursday.