Jerusalem fund decides to finance projects in holy city

The governing board of Bayt Mal Al-Quds (Jerusalem Fund) decided to finance all projects submitted to it during its first meeting, held in Marrakesh on Monday under the chairmanship of King Mohammed VI.

The board said in a final statement that it will endeavor to finance the projects in the fields of housing, health, education and the rehabilitation of the monuments of the holy city of Al-Quds and announced that it will immediately start the implementation of a number of housing projects worth $3 million and rehabilitation works assessed at $1 million.

The fund was set up in 1995 to seek funding sources to preserve the holy city of Al-Quds against Israel's attempts to obliterate its Arab and Muslim demography and architecture.

The board urged all member countries of the Organization of Islamic Conference (OIC) to extend donations to the fund. Development funds, trade and industry chambers and charities of Arab and Islamic states were also called to earmark direct or indirect assistance to the fund.

It urged the private sector in the Islamic countries to contribute to the fund's efforts through carrying out investment projects in the holy city of Al-Quds and extending donations to the fund.

At the end of the board's works, King Mohammed VI hosted a dinner banquet in honor of the members.

The Marrakesh meeting was attended by Palestinian President Yasser Arafat, together with representatives of 16 Islamic member countries, namely Jordan, Indonesia, Iran, Pakistan, Bangladesh, Saudi Arabia, Syria, Senegal, Iraq, Guinea, Palestine, Egypt, Mauritania, Niger, Lebanon and Morocco.

Other members are the Palestinian ambassador in Morocco as chairman of Bayt Mal Al-Quds, Abu Marwane, and secretary general of the Jeddah-based OIC, Azzedine Laraki.

On the fringes of the board meeting, King Mohammed VI, who is chairman of the Al-Quds Committee, stemming from the OIC, held talks with President Yasser Arafat of Palestine.