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RIYADH: The World Assembly of Muslim Youth (WAMY), a major Islamic charity of Saudi Arabia, has downsized its operation in the US, Canada and in many other Western countries because of the stringent restrictions imposed by the respective governments on the fundings of Islamic aid organizations.

The WAMY, an UN-recognized NGO, had a “symbolic presence in the US, while it has closed its offices in Canada,” according to Saleh Al-Wohaibi, WAMYs secretary-general. Al-Wohaibi, however, said that the WAMY values its partnership with the US and will continue to work with the community stakeholders in that country.

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RIYADH: Saleh S. Al-Wohaibi, secretary-general of the World Assembly of Muslim Youth (WAMY), has voiced concerns over the steep shortfall of WAMYs budget that is cutting deep at the WAMY-affiliated organizations that cater to the needs of poor Muslim children and youths worldwide.

The budgetary constraints, he said, was mainly caused by the economic crisis and the stringent measures imposed by the US and the Western nations on collecting donations and remitting funds abroad for Islamic projects.

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JEDDAH: Education Minister Prince Faisal bin Abdullah on Wednesday called upon UNESCO to enlist the historical part of Jeddah among the world heritage sites.

The prince commended the efforts being made by the Saudi Commission for Tourism and Antiquities (SCTA) to enlist Old Jeddah among the world heritage sites.

“Heritage is a source of inspiration, which has been agreed upon internationally. It reflects human relations and shared values of civilizations,” he

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UNITED NATIONS – An obscure UN board that oversees a $2.7 billion market intended to cut heat-trapping gases has agreed to take steps that could lead to it eventually reining in what European and US environmentalists are calling a huge scam.

At a meeting this week that ended Friday, the executive board of the UNs Clean Development Mechanism said that five chemical plants in China would no longer qualify for funding as so-called carbon offset credits until the environmentalists claims can be further investigated.

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ISLAMABAD – The Pakistani ambassador to the Kingdom Omer Khan Alisherzai expressed the thanks of the Government of the Islamic Republic of Pakistan and its gratitude to the Custodian of the Two Holy Mosques King Abdullah for the popular campaign he has ordered for assisting the people of flood-stricken areas in Pakistan.?

The Pakistani news agency quoted the ambassador as saying that the Saudi leadership always stands beside of Pakistan during difficult times, noting that the donations made by the Saudi leadership, royal family, and Saudi people will no doubt contribute to the alleviation of the sufferings of the Pakistani people who are victims of the floods.

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JEDDAH – The Pakistan Repatriation Council (PRC) has appealed to all overseas Pakistanis, particularly those in Saudi Arabia, to “come forward immediately to help the flood victims of our country”.

At a recent Independence Day function here attended by several prominent Pakistani citizens, the PRC urged Pakistani compatriots to remit funds “so that food, tents, medicines and other critical needs can be supplied to those who are living under the open sky surrounded by flood water”. The PRC also urged President Asif Ali Zardari and Prime Minister Yousaf Raza Gilani to seriously consider building Kala Bagh, Bhasha and other dams after consultations with the concerned provinces.

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BAGHDAD -Iraqi banks might offer huge growth opportunities in the future for investors willing to take some risks but the industry needs to consolidate first and change its business model, analysts and investors say.

With violence ebbing from the peak of sectarian warfare in 2006/2007 foreign firms and banks are putting out feelers to the major oil producer, which was isolated for 20 years due to UN sanctions, wars and violence since the 2003 US-led invasion.

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Floodwaters in Pakistan to recede only by months end

JEDDAH: Prince Alwaleed Bin Talal, chairman of the Alwaleed Bin Talal Foundation, on Tuesday received Pakistans Ambassador to Saudi Arabia Umar Khan Alisherzai and made immediate donation of SR10-million for the flood victims of Pakistan.

Alisherzai thanked Prince Alwaleed for the donation.

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TEHRAN – Sanctions-hit Iran will within days offer the first tranche of a $3-billion domestic bond issue to fund the development of its South Pars gasfields, a top official said Sunday.

Ali Vakili, head of Pars Oil and Gas Company, the Iranian firm in charge of developing South Pars, said the funds will be raised in six stages during the current year to March 2011, according to oil ministrys news agency Shana.

Vakili said state-run Saderat Bank, which is under UN and US sanctions, will be responsible for raising $1 billion in the first two tranches of the overall issue.

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JEDDAH: While Ramadan is seen as a time for worship and earning extra spiritual rewards through charity giving, there are others who see the holy month as a golden opportunity to swindle the kindhearted.

One of the latest scams involves people impersonating employees of charitable foundations throughout the world, seeking help for Muslims and orphans following devastating disasters that recently hit Pakistan and China.

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