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52-587: OIA manages its assets through two distinct Funds. The first being the Future Generations Fund (FGF), which encompasses OIA’s international assets as well as investments in both public and private markets. Its overarching objective is to safeguard the nation's reserves and assets, ensuring the financial well-being of future generations. The second is the National Development Fund (NDF), specifically designed to promote economic diversification and

104-760: A "just solution" for the Palestinian refugees . The Peace Initiative was again endorsed at 2007 in the Riyadh Summit. In July 2007, the Arab League sent a mission, consisting of the Jordanian and Egyptian foreign ministers, to Israel to promote the initiative. Following Venezuela 's move to expel Israeli diplomats amid the 2008–2009 Israel–Gaza conflict , Kuwaiti member of parliament Waleed Al-Tabtabaie proposed moving Arab League headquarters to Caracas , Venezuela . On 13 June 2010, Amr Mohammed Moussa, Secretary-General of

156-548: A capital of 2 billion Omani Rials (OMR), will be utilized over a span of five years at an annual rate of OMR 400 million. It is structured to allocate 90% of its capital towards either new or existing projects. The remaining 10% will be distributed, with 7% earmarked for SMEs and 3% designated for startups. Targeting specific sectors, the fund will focus on eight key areas: tourism; industry and production; green energy; information and communications technology; ports and logistics services; mining; fisheries; and agriculture. OIA plays

208-578: A diverse array of assets, including bonds, securities, Sukuk, and deposits. NDF’s assets fall under the following key sectors: 1. Energy 2. Mining 3. Logistics 4. Food and Fisheries 5. Tourism 6. Finance 7. Information and Communication Technology (ICT) 8. Services 9. Industry The Oman Investment Authority has recently introduced the Future Fund Oman with the aim of attracting foreign investment and enhancing investments in local small and medium-sized enterprises (SMEs). The fund, with

260-603: A peacekeeping force to deploy in South Lebanon, Darfur, Iraq, and other hot spots. At a 2015 summit in Egypt, member states agreed in principle to form a joint military force. The Arab League is rich in resources, such as enormous oil and natural gas resources in certain member states. Economic achievements initiated by the League amongst member states have been less impressive than those achieved by smaller Arab organisations such as

312-588: A pivotal and strategic role in implementing the objectives outlined in Oman Vision 2040. It has diligently endeavored to align the plans and strategies of all its national assets and investments with the overarching aspirations of this visionary initiative. OIA prioritizes optimizing its revenue generation capabilities to attain financial stability and substantially contribute to Oman's Gross Domestic Product (GDP). In this pursuit, it capitalizes on its extensive international relationships to attract foreign investments, with

364-647: Is Egypt , with a population of over 100 million. The least populated is the Comoros , with approximately 850,000 inhabitants. The majority of the Arab League's citizens adhere to Islam , with Christianity being the second largest religion. At least 15 million Christians combined live in Egypt , Iraq , Jordan , Lebanon , Palestine , Sudan and Syria . In addition, there are smaller but significant numbers of Druze , Yazidis , Shabaks and Mandaeans . Numbers for nonreligious Arabs are generally not available, but research by

416-635: Is divided into five parts when it comes to transport, with the Arabian Peninsula and the Near East being entirely connected by air, sea, roads and railways. Another part of the League is the Nile Valley , made up of Egypt and Sudan . These two member states have started to improve the River Nile's navigation system to improve accessibility and thus foster trading. A new railway system is also set to connect

468-542: Is entrusted with the pivotal task of identifying and pursuing top-tier investment opportunities that align with Oman's national and global ambitions. Its overarching goal is to diversify its investment portfolio across various sectors worldwide, fostering sustainable economic growth. In its relentless pursuit of this objective, OIA has diligently embraced international best practices to shape its investment strategy. These practices encompass prudent asset allocation, avoiding over-concentration in any specific geographic location, and

520-560: The 1958 Lebanon crisis . The League has served as a platform for the drafting and conclusion of many landmark documents promoting economic integration. One example is the Joint Arab Economic Action Charter , which outlines the principles for economic activities in the region. Each member state has one vote in the Council of the Arab League , and decisions are binding only for those states that have voted for them. The aims of

572-571: The Arabs of Palestine the framers of the Pact were determined to include them within the League from its inauguration. This was done by means of an annex that declared: Even though Palestine was not able to control her own destiny, it was on the basis of the recognition of her independence that the Covenant of the League of Nations determined a system of government for her. Her existence and her independence among

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624-730: The Beirut Summit on 28 March 2002, the league adopted the Arab Peace Initiative , a Saudi-inspired peace plan for the Arab–Israeli conflict . The initiative offered full normalisation of the relations with Israel . In exchange, Israel was required to withdraw from all occupied territories , including the Golan Heights , to recognise Palestinian independence in the West Bank and Gaza Strip , with East Jerusalem as its capital, as well as

676-633: The Gulf Cooperation Council (GCC). Among them is the Arab Gas Pipeline , that will transport Egyptian and Iraqi gas to Jordan, Syria, Lebanon, and Turkey. As of 2013, a significant difference in economic conditions exist between the developed oil states of Algeria , Qatar , Kuwait and the UAE , and developing countries like the Comoros , Djibouti , Mauritania , Somalia , Sudan and Yemen . The Arab League also includes great fertile lands in

728-549: The League of Arab States ( Arabic : جامعة الدول العربية , Jāmiʿat ad-Duwal al-ʿArabiyya ), is a regional organization in the Arab world . The Arab League was formed in Cairo on 22 March 1945, initially with seven members: Egypt , Iraq , Transjordan , Lebanon , Saudi Arabia , Syria , and North Yemen . Currently, the League has 22 members . The League's main goal is to "draw closer

780-566: The Pew Forum suggests around 1% of people in the MENA region are "unaffiliated". The official language of the Arab League is Literary Arabic , based on Classical Arabic . However, several Arab League member states have other co-official or national languages, such as Somali , Afar , Comorian , French , English , Berber and Kurdish . In most countries, there is a dominant non- codified spoken Arabic dialect . The Pan-Arab Games are considered

832-811: The Sahara . Nevertheless, it also contains several highly fertile lands like the Nile Valley , the Jubba Valley and Shebelle Valley in the Horn of Africa , the Atlas Mountains in the Maghreb , and the Fertile Crescent that stretches over Mesopotamia and the Levant . The area comprises deep forests in southern Arabia and parts of the world's longest river, the Nile . The Charter of

884-595: The Shia Houthis and forces loyal to former President Ali Abdullah Saleh , who was deposed in the 2011 uprising . On 15 April 2018, in response to the Turkish invasion of northern Syria aimed at ousting U.S.-backed Syrian Kurds from the enclave of Afrin , the Arab League passed a resolution calling on Turkish forces to withdraw from Afrin. In September 2019, the Arab League condemned Benjamin Netanyahu 's plans to annex

936-529: The Syrian National Coalition Syria's seat in the Arab League. On 9 March 2014, secretary general Nabil Elaraby stated that Syria's seat would remain vacant until the opposition completes the formation of its institutions. In 2021, the Arab League initiated a process of normalisation between Syria and other Arab nations. On 7 May 2023, at the meeting of the Council of the Arab League in Cairo, it

988-632: The sovereignty of the individual member states. The internal regulations of the Council of the League and the committees were agreed in October 1951. Those of the Secretariat-General were agreed in May 1953. Since then, governance of the Arab League has been based on the duality of supra-national institutions and the sovereignty of the member states. Preservation of individual statehood derived its strengths from

1040-535: The Arab League , also known as the Pact of the League of Arab States, is the founding treaty of the Arab League. Adopted in 1945, it stipulates that "the League of Arab States shall be composed of the independent Arab States that have signed this Pact." In 1945, there were seven members, but the Arab League now has 22 members, including 8 African countries: and 7 observer states (note: the observer states below have been invited to participate during select Arab League sessions but do not hold voting privileges): Egypt

1092-574: The Arab League initiated the creation of an organisation representing the Palestinian people. The first Palestinian National Council convened in East Jerusalem on 29 May 1964. The Palestinian Liberation Organization was founded during this meeting on 2 June 1964. Palestine was shortly admitted in to the Arab League, represented by the PLO. Today, State of Palestine is a full member of the Arab League. At

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1144-610: The Arab League is one of the Institutions of the Arab League . It was established under the terms of the Joint Defence and Economic Co-operation Treaty of 1950 to coordinate the joint defence of the Arab League member states . The Arab League as an organisation has no military Force, similar to the UN, but at the 2007 summit, the Leaders decided to reactivate their joint defence and establish

1196-692: The Arab League reflects Arab leaders' individual concerns for regime survival: "the politics of Arab nationalism and a shared identity led Arab states to embrace the rhetoric of Arab unity in order to legitimize their regimes, and to fear Arab unity in practice because it would impose greater restrictions on their sovereignty." The Arab League was "specifically designed to fail at producing the kind of greater collaboration and integration that might have weakened political leaders at home." The Arab League member states cover over 13,000,000 km (5,000,000 sq mi) and straddles two continents: Africa and Asia . The area largely consists of arid deserts, such as

1248-448: The Arab League refused to condemn the UAE 's decision to normalize ties with Israel . Nevertheless, "The goal all our Arab countries seek, without exception, is to end the occupation and establish an independent Palestinian state on the 1967 borders with East Jerusalem as its capital," Aboul Gheit said. In January 2024, the Arab League expressed support for South Africa's ICJ genocide case against Israel. The Joint Defence Council of

1300-542: The Arab League, visited the Gaza Strip , the first visit by an official of the Arab League since Hamas' armed takeover in 2007. The Arab League is a member of the China-Arab States Cooperation Forum (CASCF), which was formed in 2004. CASCF is the Arab League's earliest participation in a cooperation forum with another country or region. CASCF is the primarily multi-lateral coordination mechanism between

1352-567: The Arab states and China and within CASCF the Arab League represents its member states as a relatively unified force. The Arab League's coordination allows Arab states to negotiate actively for collective projects involving multiple states, such as railway projects, nuclear power projects, and Dead Sea initiatives. In 2015, the Arab League voiced support for Saudi Arabian-led military intervention in Yemen against

1404-618: The Arabian Peninsula by the Bab el Mandeb and this is quickly changing as Tarik bin Laden, the brother of Osama bin Laden , has initiated the construction of the ambitious Bridge of the Horns project, which ultimately aims to connect the Horn of Africa with the Arabian Peninsula via a massive bridge. The project is intended to facilitate and accelerate the already centuries-old trade and commerce between

1456-464: The Economic and Social Council of its Council of Arab Economic Unity (CAEU), the League facilitates political, economic, cultural, scientific, and social programmes designed to promote the interests of the Arab world. It has served as a forum for the member states to coordinate policy, arrange studies of and committees as to matters of common concern, settle inter-state disputes and limit conflicts such as

1508-715: The Sultanate of Oman responsible for all government financial matters. The current Finance Minister is Sultan bin Salem bin Saeed al-Habsi. The first financial agency was established in January 1941, and the financial affairs were managed by Sultan of Oman . The name of the ministry of changed from the Ministry of Finance and Economy to the Ministry of Finance in the year 1995. Secretaries of financial affairs, appointed by Sultan Sultan of Oman

1560-737: The astute selection of promising sectors following prevailing trends in the global economy. FGF represents a significant 40% of OIA’s total assets. This 40% is strategically distributed across more than 50 countries worldwide. This portfolio is primarily divided into: 1. Public Market Assets:    - A broad spectrum, this category includes global equities, fixed-income bonds, short-term assets, local securities, and multi-assets. 2. Private Market Assets:    - Private equity and real estate portfolio, both realized through direct investments and private ownership funds. NDF represents 60% of OIA’s total assets. Its primary responsibility lies in handling OIA’s national assets and investments, with

1612-649: The country. Chairman of the Board: His Excellency Sultan Al Habsi, the Minister of Finance . - His Excellency Abdullah Al Harthy, the Undersecretary of the Ministry of Finance . - His Excellency Eng. Salim Al Aufi, Minister of Energy and Minerals. - His Excellency Saud Al Habsi, Minister of Agriculture, Fisheries, and Water Resources. - Mr. Kwa Chong Seng, International Member, Singapore. OIA

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1664-478: The decision of the United Nations General Assembly. When Transjordan agreed to this proposal, Egypt intervened to prevent this from happening. It was followed by the creation of a mutual defence treaty two years later. A common market was established in 1965. The Arab League has not achieved much cooperation throughout its history. According to Michael Barnett and Etel Solingen , the design of

1716-532: The eastern portion of the occupied West Bank known as the Jordan Valley . The Arab League met in Cairo on 12 October 2019 to discuss Turkish offensive into north-eastern Syria . Upon meeting, its member states voted to condemn the Turkish offensive, dubbing it both an 'invasion' and an 'aggression' against an Arab state, adding that the organization saw it as a violation of international law. On 9 September 2020,

1768-495: The establishment of a Joint Arab Force with the aim of counteracting extremism and other threats to the Arab States. The decision was reached while Operation Decisive Storm was intensifying in Yemen. Participation in the project is voluntary, and the army intervenes only at the request of one of the member states. Heightened military arsenal in many member states and, in a small minority, civil wars as well as terrorist movements were

1820-485: The explicit goal of achieving economic diversification and empowering the private sector . Furthermore, given that Oman Vision 2040 positions humanity at its core, OIA has consistently devoted attention and resources to developing and training its human capital. Ministry of Finance (Oman) [REDACTED] Member State of the Arab League The Ministry of Finance (MOF) is the governmental body in

1872-468: The growth of targeted sectors within Oman. It comprises a diverse range of assets, including more than 160 companies, which include holding companies, publicly listed companies, direct private investments, and various financial instruments such as bonds, securities, Sukuk (Islamic bonds), and deposits. This comprehensive approach underscores OIA’s commitment to fostering economic sustainability and development within

1924-587: The impetuses for JAF's establishment. In the early 1970s, the Economic Council put forward a proposal to create the Joint Arab Chambers of Commerce across international states. That led to the setting up of mandates to promote, encourage and facilitate bilateral trade between the Arab world and significant trading partners. Following adoption of the Alexandria Protocol in 1944, the Arab League

1976-483: The largest ethnic group in the Arab League, there are several other ethnic groups that also reside in the region, including Berbers , Kurds , Somalis , Assyrians , Armenians , Nubians , Mandaeans , and Circassians . Each of these groups have their own distinct cultures, languages, and traditions. As of 1 July 2013, about 359 million people live in the states of the Arab League. Its population grows faster than in most other global regions. The most populous member state

2028-496: The league in 1945 were to strengthen and coordinate the political, cultural, economic and social programs of its members and to mediate disputes among them or between them and third parties. Furthermore, the signing of an agreement on Joint Defence and Economic Cooperation on 13 April 1950 committed the signatories to coordination of military defence measures. In March 2015, the Arab League General Secretary announced

2080-522: The league's history, other smaller Arab Organizations have achieved more than the league has, such as the GCC , but lately several major economic projects that are promising are to be completed, the Arab Gas Pipeline is to end by 2010, Connecting Egyptian and Iraqi Gas to Jordan, Syria and Lebanon, and then to Turkey thus Europe, a free trade Agreement ( GAFTA ) is to be completed by 1 January 2008, making 95% of all Arab products tax free of customs. The Arab League

2132-525: The nations can, therefore, no more be questioned de jure than the independence of any of the other Arab States. [...] Therefore, the States signatory to the Pact of the Arab League consider that in view of Palestine's special circumstances, the Council of the League should designate an Arab delegate from Palestine to participate in its work until this country enjoys actual independence At the Cairo Summit of 1964,

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2184-429: The natural preference of ruling elites to maintain their power and independence in decision making. Moreover, the fear of the richer that the poorer may share their wealth in the name of Arab nationalism , the feuds among Arab rulers , and the influence of external powers that might oppose Arab unity can be seen as obstacles towards a deeper integration of the league. Mindful of their previous announcements in support of

2236-594: The outbreak of the First Libyan Civil War . The Arab League voted to restore Libya's membership on 27 August 2011 by accrediting a representative of the National Transitional Council , which was the partially recognised interim government of the country. Syria was suspended on 16 November 2011 in the aftermath of the outbreak of the Syrian Civil War . On 6 March 2013, the Arab League gave

2288-422: The overarching aim of contributing significantly to the growth and advancement of Oman's economy. Furthermore, it plays a pivotal role in supporting the state's general budget dividends and divestment revenues. The diversified investments within this portfolio are strategically distributed across more than 10 key sectors, with a vast portfolio of over 160 holding and subsidiary companies. Additionally, NDF comprises

2340-483: The relations between member states and co-ordinate collaboration between them, to safeguard their independence and sovereignty, and to consider in a general way the affairs and interests of the Arab countries". The organization has received a relatively low level of cooperation throughout its history. Through institutions, notably the Arab League Educational, Cultural and Scientific Organization (ALECSO) and

2392-543: The southern Egyptian city of Abu Simbel with the northern Sudanese city of Wadi Halfa and then to Khartoum and Port Sudan . The third division of the League is the Maghreb , where a 3,000 km stretch of railway runs from the southern cities of Morocco to Tripoli in Western Libya . The fourth division of the League is the Horn of Africa , whose member states include Djibouti and Somalia . These two Arab League states are separated by only ten nautical miles from

2444-527: The southern part of Sudan . It is referred to as the food basket of the Arab World , the region's instability including the independence of South Sudan has not affected its tourism industry, that is considered the fastest growing industry in the region, with Egypt , UAE , Lebanon , Tunisia , and Jordan leading the way. Another industry that is growing steadily in the Arab League is telecommunications. Economical achievements within members have been low in

2496-791: The two regions. The last division of the League is the isolated archipelago of the Comoros located off the coast of East Africa , which is not physically connected to any other Arab state, but still trades with other Arab League members. In collecting literacy data, many countries estimate the number of literate people based on self-reported data. Some use educational attainment data as a proxy, but measures of school attendance or grade completion may differ. Because definitions and data collection methods vary across countries, literacy estimates should be used with caution. United Nations Development Programme , Human Development Report 2010. The Persian Gulf region has had an oil boom , enabling more schools and universities to be set up. While Arabs constitute

2548-453: Was agreed to reinstate Syria's membership. The Arab League is a political organization which tries to help integrate its members economically, and solve conflicts involving member states without asking for foreign assistance. It possesses elements of a state representative parliament while foreign affairs are often conducted under UN supervision. The Charter of the Arab League endorsed the principle of an Arab nation-state while respecting

2600-513: Was founded on 22 March 1945. The official headquarters of the League was the Boustan Palace in Cairo. It aimed to be a regional organisation of Arab states with a focus to developing the economy, resolving disputes and coordinating political aims. Other countries later joined the league. Each country was given one vote in the council. The first major action was joint intervention to keep Palestine from being divided into two states in keeping with

2652-441: Was nominally the Minister of Finance from January 1972 until August 2020. There was a minister responsible for financial affairs. Minister of Finance This Oman government-related article is a stub . You can help Misplaced Pages by expanding it . Arab League The Arab League ( Arabic : الجامعة العربية , al-Jāmiʿa al-ʻArabiyya , Arabic: [al.d͡ʒaː.mi.ʕa al.ʕa.ra.bij.ja] ), formally

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2704-520: Was suspended from the Arab League on 26 March 1979 due to the Egypt–Israel peace treaty , with the League's headquarters moving from Cairo to Tunis , Tunisia. In 1987, Arab League states restored diplomatic relations with Egypt, the country was readmitted to the League in May 1989 and the League's headquarters were moved back to Cairo in September 1990. Libya was suspended on 22 February 2011, following

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