IsDB Institute Drives Global Islamic Finance Cooperation.

Tuesday 2nd June 2025

Par inAfrika Reporter

During the 2025 IsDB Group Annual Meetings in Algiers, the Islamic Development Bank Institute (IsDBI) held a wide array of strategic bilateral meetings, reaffirming its leadership in shaping the future of Islamic finance. Spearheaded by Acting Director General Dr. Sami Al-Suwailem, the IsDBI delegation engaged with global stakeholders to strengthen partnerships and expand the ecosystem of Shariah-compliant finance.

At the heart of IsDBI’s agenda was a commitment to leveraging innovation and knowledge-sharing. Notable discussions were held with the Securities Commission Malaysia, focusing on Sukuk, Awqaf, and sustainability-linked projects. Engagements with the Islamic Financial Services Board delved into regulatory frameworks and how artificial intelligence could reshape Islamic financial services infrastructure.

The meetings demonstrated a clear emphasis on collaboration across regions and sectors. A session with the Atlantic Group from Côte d’Ivoire explored the internal integration of Shariah-compliant financial practices, while the Eurasian Development Bank looked to introduce Islamic finance into Central Asia, aiming to promote financial inclusion and regional economic diversification.

Social finance also featured heavily. From blockchain applications in waqf management discussed with Awqaaf South Africa, to Islamic microfinance strategies with Senegal’s PROMISE program, IsDBI promoted inclusive models that address poverty and economic marginalization.

Bank Negara Malaysia and the Participation Banks Association of Türkiye contributed to dialogues on digital payments, credit guarantees, and regional expansion. Meanwhile, discussions with the finance ministries of Sierra Leone and the Maldives focused on developing national Islamic finance strategies and building regulatory capacity.

The delegation also connected with institutions like Algeria’s National Office of Awqaf and Senegal’s Haute Autorité du Waqf to explore long-term waqf planning. These interactions reflect the Institute’s evolving focus on structured growth and public awareness around Islamic social finance.

Concluding its series of engagements, the Institute met with the Somali Development and Reconstruction Bank to evaluate innovative instruments supporting agricultural development and small businesses, particularly through e-commerce and shared risk financing.

These initiatives underscore IsDBI’s ongoing mission: to make Islamic finance not only more inclusive, but more effective in supporting sustainable development across Member Countries.