By Zjan Shirinian

It is not known why Prince Nawaf Faisal Fahd Abdulaziz resigned as President of the Saudi Arabian Olympic Committee ©AFP/Getty ImagesPrince Nawaf Faisal Fahd Abdulaziz has thanked the Saudi Arabian Olympic Committee for its "cooperation and support" after resigning as President.

The message was read out during a General Assembly meeting in the capital Riyadh.

Prince Nawaf's resignation was announced on Friday (July 11), and also means he loses his membership of the International Olympic Committee (IOC).

General Assembly members thanked the former President for his work and "wished him success in his career and private life".

It is not clear why Prince Nawaf, who was elected to the IOC in 2002, resigned.

During the meeting, Prince Abdullah bin Abdulaziz was appointed chairman of the Board of Directors of the Saudi Arabian Olympic Committee until 2016.

Prince Abdullah gave a speech after the announcement thanking Assembly members for their votes.

Members also talked about the budgets for sports federations and the formation of a committee to develop the performance of athletes in the build-up to the Rio 2016 Olympic Games.