OPEC Fund Annual Report 2022

03 | THE OPEC FUND – GOVERNANCE

GOVERNANCE

The OPEC Fund’s governance ensures proper implementation of rules and procedures, accounting data and business processes. These business processes are the basis for the OPEC Fund’s efficient operation, fostering a strong risk management culture and providing management and the Governing Board with objective analyses of the Fund’s activities.

The institution’s founding charter is the Agreement Establishing the OPEC Fund. It outlines the authorities and responsibilities of the Ministerial Council, the Governing Board and the Director-General.

MINISTERIAL COUNCIL

COMPOSITION AS OF DECEMBER 31, 2022

Country

Representatives

Algeria

HE Brahim Djamel Kassali

The OPEC Fund’s supreme authority is the Ministerial Council, composed of finance ministers of the member countries. The Council issues policy guidelines, approves the replenishment

Ecuador

HE Pablo Arosemena Marriott

Gabon

HE Nicole Jeanine Lydie Roboty Mbou

Indonesia

HE Sri Mulyani Indrawati

of the OPEC Fund’s resources, authorizes the administration of

Iran

HE Dr. Seyed Ehsan Khandouzi

special funds and takes major policy decisions. The Ministerial Council holds one annual session and elects one of its members to serve as the chair of the Council for a period of one year.

Iraq

HE Taif Sami Mohammed

Kuwait

HE Abdulwahab M. Al‐Rasheed

Libya

HE Dr. Khalid Al-Mabrouk Abdalla Al-Mabrouk (chair)

Nigeria

HE Zainab Shamsuna Ahmed

Saudi Arabia

HE Mohammed Al-Jadaan

United Arab Emirates

HH Sheikh Maktoum Bin Mohammed Al Maktoum

HE Mohammed Bin Hadi Al Hussaini

Venezuela

HE Dr. Delcy Eloina Rodriguez Gomez

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