2024-11-14T09:00:25-06:00 2023-12-31 PwC US Tax LLP 655 NEW YORK AVE NW SUITE 1100 WASHINGTON DC 20001 990 2023-01-01 522340908 ARAB GULF PROGRAMME FOR DEVELOPMENT % NASSER AL KAHTANI ARAB 2128387380 C/O WOHABE LAW 515 MADISON AVE NEW YORK NY 10022 NASSER AL KAHTANI EXECUTIVE DIRECTOR 2128387380 2024-11-10 true true TRAVIS L PATTON P00369623 2024141000 2024-11-08 2023 2024-10-15 13:58:12Z NASSER AL KAHTANI C/O WOHABE LAW 515 MADISON NEW YORK NY 10022 257636031 false X AGFUND.ORG X 1981 SA SEE SCHEDULE O 8 7 0 1 945 0 0 0 4000000 0 23473759 24466798 35542475 475365 63016234 24942163 5537720 6990000 0 0 4419466 4146568 0 0 0 5365606 6487863 15322792 17624431 47693442 7317732 779649865 829757055 14959003 16516494 764690862 813240561 X SEE SCHEDULE O false false 1610000 1610000 0 SEE SCHEDULE O 1747500 1747500 0 SEE SCHEDULE O 3632500 3632500 0 SEE SCHEDULE O 6990000 false false false false false false false false false true true true false true false true false false true true true false false false false false true false true false false false false false false false false false false false false false true true true false true X 0 0 0 true true true UK SZ JA SA false false false false false false 8 7 false false false false false false false true true false false false false false true false false false X NASSER AL KAHTANI 2128387380 PRINCE SATTAM STREET RIYADH SA 11415 X NASSER AL KAHTANI EXEC. DIRECTOR/BOARD MEMBER 40.0 0.0 X X 545300 0 84000 MONIRAH AL OTAIBI FINANCE & ADMIN DEPT. DIRECTOR 40.0 0.0 X 197648 0 23100 ZEINA AHMED SAFA ASSET MGMT UNITE DIRECTOR 40.0 0.0 X 165508 0 23164 MUHAMMED AL SALIM PROJECT DIRECTOR 40.0 0.0 X 164316 0 23164 DAREEN MAHROUS IT DIRECTOR 40.0 0.0 X 154434 0 23100 SALAH HASSAN ABDULLAH INTERNAL AUDIT DIRECTOR 40.0 0.0 X 113320 0 23100 BUTHAINA AL BALAWY MEDIA DIRECTOR 40.0 0.0 X 111384 0 23100 MOHSEN SALEH AL BAHLI BOARD MEMBER 1.0 0.0 X 29000 0 0 MOHAMMED AHMED AL-MAHROQI BOARD MEMBER 1.0 0.0 X 29000 0 0 NAWAF HASHIM AL SADEH BOARD MEMBER 1.0 0.0 X 27000 0 0 GHAZI A A E A ALMUTAWA BOARD MEMBER 1.0 0.0 X 20000 0 0 KHALIFA ABDULLA A M ALQUBAISI BOARD MEMBER 1.0 0.0 X 20000 0 0 ABDULMUHSEN SAAD A ALKHALAF BOARD MEMBER 1.0 0.0 X 18000 0 0 PRINCE ABDULAZIZ BIN TALAL AI PRESIDENT/BOARD MEMBER 1.0 0.0 X X 0 0 0 1594910 0 222728 7 false true false MR RADI AL-HADDAD C/O WOHABE LAW 515 MADISON AVE NEW YORK NY 10022 INVESTMENT MGMT 146500 MR IMAD AL-NAQUIB C/O WOHABE LAW 515 MADISON AVE NEW YORK NE 10022 INVESTMENT MGMT 146500 MR KHALID AL-SWEILEM C/O WOHABE LAW 515 MADISON AVE NEW YORK NY 10022 INVESTMENT MGMT 146500 BLACKSTONE CAPITAL PARTNERS X 345 PARK AVENUE NEW YORK NY 10154 INVESTMENT MGMT 130232 SANNE FIDUCIARY SERVICES LTD AFC 5 ST HELIER CHANNEL ISLANDS JE JE1 1ST FUND ADMINISTRATION 128271 7 0 0 11959354 945 11958409 0 0 0 0 0 245195591 5721 232693868 0 12501723 5721 12507444 12507444 0 0 0 0 0 0 0 0 0 OTHER REVENUE 900099 475365 475365 475365 24942163 945 24941218 1500000 1500000 0 5490000 5490000 0 993048 993048 0 1278199 1278199 415117 415117 1460204 1460204 0 0 48830 48830 0 0 0 2395390 2395390 204811 204811 0 164685 164685 18366 18366 0 46234 46234 789055 789055 0 15178 15178 0 0 140033 140033 19359 19359 PROJECT DEVELOP. IMPAIRMENT 1490330 0 1490330 0 AGFUND PROGRAM AWARD EXP. 494296 0 494296 0 OFFICE SUPPLIES/OTHER PROGRAMS 187972 0 187972 0 TRANSLATOR EXPENSES 8149 0 8149 0 465175 465175 17624431 6990000 10634431 0 X 2829099 11267822 23135800 51324740 0 0 134075225 133709016 0 0 0 0 0 0 0 0 137284 155955 3540609 2904966 556104 635643 0 0 568417503 583655360 50498850 49008519 0 0 0 0 779649865 829757055 4532513 4616006 9385365 11243479 0 0 0 0 0 0 0 0 1000000 250000 0 0 41125 407009 14959003 16516494 X 0 0 764690862 813240561 0 0 764690862 813240561 779649865 829757055 X 7317732 41231967 X X false true X true false 297569 283742 13827 2246778 2018534 228244 996262 602690 393572 635643 BOND FUNDS 100866625 F ALTERNATIVE/HEDGE FUNDS 234795850 F EQUITY FUNDS 227321275 F LIQUIDATION FUNDS 20671610 F 583655360 INVESTMENT IN AOU 35000000 C DEVELOPMENT PROJECT CONTRIB. 14008519 C 49008519 0 OTHER LIABILITIES 407009 407009 66168409 41231967 41231967 24936442 5721 5721 24942163 17618710 17618710 5721 5721 17624431 FORM 990, SCHEDULE D, PART XI, LINE 4B GAIN ON DISPOSAL OF PROPERTY: $ 5,721 FORM 990, SCHEDULE D, PART XII, LINE 4B GAIN ON DISPOSAL OF PROPERTY: $ 5,721 true Middle East and North Africa 0 33 Program Services AGFUND PROGRAM EXPENSE 6131194 Europe (Including Iceland and Greenland) 0 0 Investments 33771564 South Asia 0 0 Investments 45723811 Europe (Including Iceland and Greenland) 0 0 Investments 320399971 Middle East and North Africa 0 0 Grantmaking 4770000 Europe (Including Iceland and Greenland) 0 0 Grantmaking 440000 Sub-Saharan Africa 0 0 Grantmaking 280000 0 33 0 33 411516540 411516540 Middle East and North Africa PROG.SUPPORT 300000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 400000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 450000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 300000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 500000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 20000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 360000 WIRE/EFT N/A N/A Europe (Including Iceland and Greenland) PROG.SUPPORT 300000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 150000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 140000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 500000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 150000 WIRE/EFT N/A N/A Sub-Saharan Africa PROG.SUPPORT 80000 WIRE/EFT N/A N/A Sub-Saharan Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A Sub-Saharan Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A Europe (Including Iceland and Greenland) PROG.SUPPORT 140000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 200000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 200000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 300000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 200000 WIRE/EFT N/A N/A Middle East and North Africa PROG.SUPPORT 100000 WIRE/EFT N/A N/A 26 0 false false false false false true FORM 990, SCHEDULE F, PART I, LINE 2 PROCEDURES FOR MONITORING GRANTS AGFUND AWARDS ANNUAL GRANTS TO INTERNATIONAL AND REGIONAL ORGANIZATIONS, NATIONAL NON-GOVERNMENTAL ORGANIZATIONS, MINISTRIES AND PUBLIC INSTITUTIONS, SOCIAL BUSINESS ENTERPRISES, AND INDIVIDUALS FOR PROJECTS THAT ADVANCE ITS MISSION. APPLICANTS FOR GRANTS MUST APPLY OR BE NOMINATED AND ARE SUBJECT TO EVALUATION DURING THE LIFESPAN OF THE PROJECT FOR EFFICIENCY AND EFFECTIVE USE OF GRANT FUNDS, SUSTAINABILITY OF BENEFITS AND SERVICES, AND FOR DESIRED ENVIRONMENTAL AND SOCIAL IMPACT. true UNITED NATIONS CHILDREN'S FUND (UNICEF) 3 UNITED NATIONS PLAZA NEW YORK NY 10017 131760110 501(C)(3) 1000000 N/A N/A PROG.SUPPORT UNITED NATIONS DEVELOPMENT Corporation 3 UNITED NATIONS PLAZA NEW YORK NY 10017 132626199 501(C)(3) 100000 N/A N/A PROG.SUPPORT The World Bank 1818 H Street NW Washington DC 20433 GOV'T 400000 N/A N/A PROG.SUPPORT 3 0 FORM 990, SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING GRANTS AGFUND AWARDS ANNUAL GRANTS TO DOMESTIC AND REGIONAL ORGANIZATIONS, NATIONAL NON-GOVERNMENTAL ORGANIZATIONS, MINISTRIES AND PUBLIC INSTITUTIONS, SOCIAL BUSINESS ENTERPRISES, AND INDIVIDUALS FOR PROJECTS THAT ADVANCE ITS MISSION. APPLICANTS FOR GRANTS MUST APPLY OR BE NOMINATED AND ARE SUBJECT TO EVALUATION DURING THE LIFESPAN OF THE PROJECT FOR EFFICIENCY AND EFFECTIVE USE OF GRANT FUNDS, SUSTAINABILITY OF BENEFITS AND SERVICES, AND FOR DESIRED ENVIRONMENTAL AND SOCIAL IMPACT. X X false true true false NASSER AL KAHTANI EXEC. DIRECTOR/BOARD MEMBER 398500 0 88000 0 58800 0 0 0 84000 0 629300 0 0 0 MONIRAH AL OTAIBI FINANCE & ADMIN DEPT. DIRECTOR 178695 0 0 0 18953 0 0 0 23100 0 220748 0 0 0 DAREEN MAHROUS IT DIRECTOR 138092 0 0 0 16342 0 0 0 23100 0 177534 0 0 0 MUHAMMED AL SALIM PROJECT DIRECTOR 140727 0 0 0 23589 0 0 0 23164 0 187480 0 0 0 ZEINA AHMED SAFA ASSET MGMT UNITE DIRECTOR 141228 0 0 0 24280 0 0 0 23164 0 188672 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A INDIVIDUALS REPORTED IN SCHEDULE J, PART II RECEIVED FIRST CLASS TRAVEL AND HOTEL ACCOMODATIONS, AS WELL AS A HOUSING ALLOWANCE. FORM 990, SCHEDULE J, PART I, LINE 1B AGFUND DOES NOT HAVE A WRITTEN POLICY REGARDING REIMBURSEMENT FOR EXPENSES. THERE IS AN ANNUAL BOARD-APPROVED BUDGET FOR EXPENSES RELATED TO TRAVEL FOR BOARD MEETINGS. THE BOARD DELEGATES APPROVAL FOR PAYMENT OF REIMBURSEMENTS THAT FALL WITHIN THE APPROVED BUDGET TO THE CEO. FORM 990, SCHEDULE J, PART I, LINE 7 CERTAIN INDIVIDUALS LISTED IN PART VII RECEIVED NONFIXED INCENTIVE PAYMENTS DURING CALENDAR YEAR 2023 THAT ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II). FORM 990, PART I, LINE 1 & PART III, LINE 1 ORGANIZATION'S MISSION THE ARAB GULF PROGRAMME FOR DEVELOPMENT'S (AGFUND) MISSION ESTABLISHES THAT, THROUGH THE IMPLEMENTATION OF ITS PROGRAMS, IT WILL PROVIDE SUPPORT TO NEEDY GROUPS TO HELP FACILITATE THEIR FULL ACCESS TO BASIC AND FUNDAMENTAL SOCIAL REQUIREMENTS, SUCH AS EDUCATION AND HEALTH CARE, UNDER THE UMBRELLA OF FAIR NATIONAL AND INTERNATIONAL LAWS THAT ESTABLISH AND PRESERVE SECURITY AND PEACE. FORM 990, PART III, LINE 4A MICROFINANCE BANKS - A VISION OF COMBATING POVERTY. PROVIDE SUPPORT FOR MICROFINANCE BANKS ASSISTING THE POOR IN DEVELOPING COUNTRIES. BY PROVIDING BANKING SERVICES TO MARGINALIZED SEGMENTS AROUND THE GLOBE, SPECIFICALLY WOMEN, YOUTH, RURAL COMMUNITIES, AND SMALL TO MEDIUM SIZED ENTERPRISES, AGFUND HAS BECOME THE FIRST ORGANIZATION IN ARAB COUNTRIES WORLD TO ESTABLISH MICROFINANCE INSTITUTIONS FOR THOSE WITHOUT SUCH FINANCIAL RESOURCES. AGFUND'S MICROFINANCE SERVICE OFFERINGS INCLUDE LOANS, SAVINGS, DEPOSITS, CURRENT ACCOUNTS, HEALTH AND COOPERATIVE INSURANCE, REMITTANCES, AND CURRENCY EXCHANGE. OVER TIME, AGFUND'S MICROFINANCE OPERATIONS HAVE EXPANDED TO INCLUDE A TECHNICAL SUPPORT UNIT, WHICH PROVIDES A MEANS FOR SHARING EXPERIENCES BETWEEN MICROFINANCING INSTITUTIONS TO IMPROVE, MAKE KNOWN, AND IMPROVE UPON BEST PRACTICES. FORM 990, PART III, LINE 4B ARAB OPEN UNIVERSITY. IN STRATEGIC PARTNERSHIP WITH THE BRITISH OPEN UNIVERSITY, CREATION AND SUPPORT FOR THE ARAB OPEN UNIVERSITY, A NON-PROFIT INSTITUTION OF HIGHER EDUCATION, TO PROVIDE SOPHISTICATED HIGHER EDUCATION TO THE LARGEST POSSIBLE NUMBER OF ARAB STUDENTS WHILE CONTRIBUTING TO THE DEVELOPMENT OF PRACTICAL SOLUTIONS TO ISSUES OF CONCERN TO THE ARAB COMMUNITIES. SUCH ISSUES INVOLVE UNEMPLOYMENT, INCREASING DEMAND FOR HIGHER EDUCATION, HELPING THE POOR TO GET THEIR RIGHTS, AND INCREASING THE ROLE OF ARAB WOMEN IN DEVELOPMENT MOBILITY. FORM 990, PART III, LINE 4C OTHER INITIATIVES: LEAD INITIATIVES FOCUSED ON EARLY CHILDHOOD DEVELOPMENT, WOMEN'S EMPOWERMENT, YOUTH EMPOWERMENT, AND THE PROMOTION OF A CIVIL SOCIETY. FORM 990, PART VI, SECTION B, LINE 11B BOARD REVIEW OF FORM 990 A COMPLETE COPY OF THIS FORM 990 WAS NOT PROVIDED TO ALL MEMBERS OF THE ORGANIZATION'S GOVERNING BODY BEFORE FILING THE FORM. REPRESENTATIVES OF THE ORGANIZATION COORDINATED THE PREPARATION OF THIS FORM 990 WITH THE ASSISTANCE OF THE ORGANIZATION'S U.S. LEGAL COUNSEL AND ACCOUNTING FIRM. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC INSPECTION THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 1 THE FINANCIAL STATEMENTS HAVE BEEN PREPARED IN ACCORDANCE WITH THE INTERNATIONAL FINANCIAL REPORTING STANDARD FOR SMALL AND MEDIUM-SIZED ENTITIES ("IFRS FOR SME'S") AS ENDORSED IN SAUDI ARABIA AND OTHER STANDARDS AND PRONOUNCEMENTS ENDORSED BY THE SAUDI ORGANIZATION FOR CHARTERED AND PROFESSIONAL ACCOUNTANTS ("SOCPA"). THESE FINANCIAL STATEMENTS ARE PRESENTED IN UNITED STATES DOLLARS (USD), WHICH IS THE PRESENTATION AND FUNCTIONAL CURRENCY OF THE PROGRAMME. EXCEPT WHERE INDICATED, THE FINANCIAL INFORMATION PRESENTED IN USD HAS BEEN ROUNDED TO THE NEAREST USD. THE FINANCIAL STATEMENTS PROVIDE COMPARATIVE INFORMATION IN RESPECT OF THE PREVIOUS PERIODS. AL-AMAL MICROFINANCE BANK YEMEN BAGHDAD ST SANAA YM MICRO FINANCE YM NA false NATIONAL MICROFINANCE BANK JORDAN BUILDING 20 SECOND FLOOR YAJUZ AMMAN JO MICRO FINANCE JO NA true IBDA'A MICROFINANCE COMPANY LEBANON FAWAZ BLDG MAIN ROAD KASKAS BEIRUT LE MICRO FINANCE LE NA false EBDAA MICROFINANCE BANK BAHRAIN UNISONO TOWER 1011 AVE 28 SANABIS BA MICRO FINANCE BA NA false EBDAA MICROFINANCE BANK SUDAN EBID KHATIM ST AL KHURTUM SU MICRO FINANCE SU NA false IBDA'A MICROFINANCE BANK SYRIA DAMASCHUSE-JARAMANA-ALBASEL ST DAMASCUS SY MICRO FINANCE SY NA false AL-IBDAA MICROFINANCE BANK MAURITANIA BANQUE AL-IBDAA NOUAKCHOTT MR MICRO FINANCE MR AGFUND true THE BANK FOR INNOV & P'SHIPSIERRA LEONE 1 COLLEGIATE ROAD FREETOWN SL MICRO FINANCE SL AGFUND true IBDAA MICROFINANCE COMPANY PALESTINE 8176 ABDUL AZIZ IBN RAYS RIYADH SA MICRO FINANCE TB AGFUND true AGBAR NO 2 LIMITED STATE ST BANK TRUST CO CHURCHILL PL CANARY WHARF LONDON UK E14 SHJ INVESTMENTS UK AGFUND C CORP 1315322 38504259 1.00000 true AGBAR LIMITED 13 CASTLE STREET ST HELIER JE JE4 5UT INVESTMENTS JE AGFUND C CORP 17398522 0 1.00000 true false false false false false false false false false false false false false false false false false true false