Held from 16 to 19 June under the theme “Regional Integration for Sustainable Prosperity,” the Annual Meetings provided a strategic platform for ICIEC to advance partnerships, support bankable projects, and reinforce its role in enabling trade and investment across its 51 Member States.

During the 14th IsDB Group Private Sector Forum (PSF), Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, participated as a speaker in the CEOs Session titled “Making Regional Integration Investable.” The session focused on how the IsDB Group can deliver integrated solutions by combining trade facilitation, investment structuring, and de-risking instruments to transform regional integration ambitions into scalable and bankable opportunities.

Following the CEOs Session, ICIEC hosted its High-Level Panel Discussion titled “De-Risking Trade & Investment for Regional Prosperity.” The session brought together around 300 participants, including senior Azerbaijani officials, business leaders, investors, development finance institutions, export credit agencies, insurers, and trade promotion organisations. The discussion highlighted Azerbaijan’s role as a strategic regional hub connecting Central Asia, the South Caucasus, Türkiye, Europe, and the wider OIC region. It also examined how Shariah-compliant risk management instruments can unlock cross-border capital, strengthen investor confidence, and support sustainable development across Member Countries.

The agreements signed during the PSF covered key areas including infrastructure, trade finance, export development, banking cooperation, and investment facilitation. They included support for strategic transactions in Nigeria, Türkiye, Uganda, and other Member Countries, alongside partnerships with financial institutions aimed at expanding access to Shariah-compliant risk mitigation and trade finance solutions.

Commenting on ICIEC’s participation, Dr. Khalid Khalafalla said: “ICIEC’s achievements in Baku demonstrate the vital role of risk mitigation in turning regional integration ambitions into bankable opportunities. The agreements concluded during the Annual Meetings will support infrastructure delivery, trade flows, investment mobilisation, and private sector growth across our Member States. ICIEC remains committed to providing the confidence and protection needed to move strategic projects from concept to implementation.”

Throughout the Annual Meetings, ICIEC held more than 80 B2B and B2G meetings with stakeholders from over 60 countries, strengthening engagement with governments, financial institutions, investors, exporters, and private sector leaders.

The ICIEC Awards recognised outstanding institutions and initiatives for their contributions to trade, investment, and sustainable development. This year, ICIEC honoured First Abu Dhabi Bank, Standard Chartered Bank, and Agrobank for landmark infrastructure and trade finance transactions that reflect the impact of effective partnerships and risk mitigation.

On the occasion of the Annual Meetings, ICIEC also issued a Special Issue themed “Corridors of Opportunities: From Azerbaijan to Central Asia, Enabling Bankable Delivery Through Risk Mitigation.” The publication highlighted Azerbaijan’s growing role as a gateway linking Central Asia, the South Caucasus, Türkiye, Europe, and the wider Islamic world. It featured perspectives on trade corridors, Islamic finance, export credit insurance, investment protection, and the role of risk mitigation in advancing sustainable growth.

ICIEC’s outcomes in Baku reaffirm its commitment to working with Member States, financial institutions, investors, and development partners to de-risk strategic projects, expand cross-border trade, and promote sustainable prosperity across the OIC region and beyond.

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The MoU was signed on the sidelines of the 20206 IsDB Group Annual Meetings, held from 16-19 June in Baku, Azerbaijan. The partnership seeks to leverage the complementary strengths of both organizations to promote excellence in Islamic finance education and professional development in Tanzania, while contributing to the broader objectives of sustainable and inclusive economic development beyond IsDB Member Countries.

As Tanzania is not an IsDB Member Country, the MoU allows the IsDBI and CIFCA to explore cooperation on a range of human capital programs that serve the Muslim community and contribute to the progress of the Tanzanian economy at large.

CIFCA plays an important role in accelerating financial inclusion and driving the development of Shariah-compliant financial systems across Tanzania. Endorsed by the Government of Tanzania as an Islamic finance advisory body, CIFCA collaborates with key entities like the Bank of Tanzania and the Capital Markets and Securities Authority. It facilitated the launch of landmark projects, including the checking and certification of major public Sukuk listings on the Dar es Salaam Stock Exchange. Furthermore, CIFCA also offers professional certifications and training programs to build local academic and professional capacity.

Speaking on the occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDB Institute, emphasized the importance of investing in talent and knowledge as key enablers of a vibrant Islamic finance ecosystem. He said, “Human capital remains one of the most critical pillars for the sustainable growth of Islamic finance. Through this partnership, we look forward to working closely with CIFCA to promote knowledge, professional excellence, and innovation that can enhance the developmental impact of Islamic finance.”

Aref Mbarak Nahdi, Chairman of CIFCA, highlighted the significance of the collaboration in fostering globally recognized professional standards and competencies within the industry. “This partnership reflects our shared commitment to nurturing future leaders and practitioners who can contribute meaningfully to the continued advancement of Islamic finance and its role in addressing contemporary economic and social challenges,” he noted.

The collaboration aligns with the strategic priorities of both institutions to support the development of robust, ethical, and inclusive financial systems grounded in the principles and values of Islamic finance.

As Islamic finance continues to expand across diverse markets, the partnership is expected to contribute to the development of skilled professionals, enhanced institutional capacity, and greater knowledge exchange that will ultimately strengthen the industry’s ability to serve society and promote sustainable prosperity.

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Under these insurance policies, ICIEC will provide insurance cover for eligible trade finance transactions extended by NBB to entities located in ICIEC Member States and support the confirmation of letters of credit issued by banks in ICIEC Member States, helping facilitate cross-border trade while mitigating payment risks.

The partnership underscores ICIEC and NBB’s shared commitment to expanding trade finance, strengthening cross-border trade flows, and deepening economic cooperation among Member States. Through the provision of risk mitigation solutions, the agreement enhances confidence in international trade transactions, supports increased private sector engagement, and facilitates the efficient movement of essential goods and services across strategic markets.

Commenting on the agreement, Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, said: “Resilient trade ecosystems require strong financial institutions, trusted partnerships, and effective risk mitigation. These insurance policies with the National Bank of Bahrain bring these elements together, enabling greater confidence in cross-border transactions and expanding trade opportunities across ICIEC Member States. We are pleased to join forces with NBB in supporting businesses and facilitating the flow of trade that contributes to sustainable economic development.”

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The forum was convened on the sidelines of the IsDB Group’s 2026 Annual Meetings, under the high patronage of His Excellency Ilham Aliyev, President of the Republic of Azerbaijan.

The forum highlighted IsDB Group’s activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the Republic of Azerbaijan.

The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group’s suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others.

The forum agenda featured a series of dialogue sessions addressing key economic themes and development projects. Participants also attended presentations on trade and investment opportunities. In addition, bilateral meetings between public and private sector institutions (B2B and B2G) facilitated networking, strategic partnerships, experience sharing, and the promotion of successful ventures.

In addition to the dialogue sessions, the forum hosted the Halal Economy Leadership Forum, which brought together policymakers, industry leaders, and experts to discuss emerging opportunities and challenges within the global halal economy. The event also featured the IsDB Group Startups Competition, providing an important platform for innovative entrepreneurs from member countries to showcase their solutions before investors, development institutions, and business leaders. The winners of the competition and the Private Sector Forum Awards were recognized during a dedicated awards ceremony honoring outstanding achievements in entrepreneurship, innovation, investment, trade, and private sector development.

The forum attracted high-level participation from Azerbaijan government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions.

In his speech, H.E. Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the Board of Governors of the Islamic Development Bank (IsDB), stated: “Azerbaijan highly values its partnership with the Islamic Development Bank Group and remains committed to deepening trade, business, and investment cooperation with member countries. Leveraging its strategic location at the crossroads of Europe and Asia, modern transport infrastructure, and ongoing economic diversification efforts, Azerbaijan serves as an important platform for regional connectivity and sustainable growth. By combining the country’s investment potential with the IsDB Group’s financial capabilities, global expertise, and extensive network, we can unlock new opportunities for impactful projects that advance economic development and deliver long-term benefits across the region.”

In his opening remarks, His Excellency Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: “At the Islamic Development Bank Group, we firmly believe that the private sector is not a supporting actor in development — it is the lead actor. Our role is clear: to remove obstacles, reduce risks, and open doors. We will continue to stand as a committed partner—mobilizing finance, mitigating risk, and enabling trade and investment that drive inclusive, resilient, and sustainable growth”

During the CEO’s session, Dr. Khalid Yousif Khalafalla, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated: “The Private Sector Forum witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. In this context, from the ICD side, we are proud of our role in private sector development by providing effective financing solutions to financial institutions and large corporations, as well as facilitating access to suitable financing for small and medium enterprises. We also continue to finance infrastructure projects that enhance development impact, encourage cross-border investment, support member countries’ exports, and create new job opportunities. In fact, ICD has achieved approximately $7.1 billion in cumulative approvals. Last year, the total financing directed towards SMEs reached USD 661.9 million. ICD supported institutions collectively employed 178,988 staff members.”

He added, “Since its inception and up to the end of 2025, ICIEC has provided cumulative insurance cover exceeding USD 139 billion, including USD 108 billion in support of trade flows and more than USD 31 billion to facilitate foreign investment across its Member States. Of this, intra-OIC trade and investment accounted for more than USD 66 billion, reflecting ICIEC’s role in strengthening economic cooperation among Member Countries. In 2025 alone, ICIEC enabled USD 1.9 billion in Islamic trade and investment finance, supported more than 294,000 jobs, and reached around 6,000 SMEs. Through its Shariah-compliant credit and political risk insurance solutions, ICIEC continues to mobilize capital, reduce risk, and support sustainable development across strategic sectors.”

On his part, Eng. Adeeb Yousuf Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated: “The 14^th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business community greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.”

He added: “Since its inception in 2008, ITFC has extended over US$96 billion in trade financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, US$20 billion was allocated to support the private sector and SMEs – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets. In 2025 alone, ITFC approved US$9.3 billion in trade finance and disbursed US$7.5 billion across its member countries. Through its operations, the Corporation supported more than 120,000 jobs, provided access to finance for 546 corporates and SMEs, and facilitated US$7.8 billion in intra-OIC trade. These achievements reflect ITFC’s continued commitment to strengthening private sector competitiveness, enhancing trade connectivity, and fostering sustainable economic growth across OIC member countries.”

For more information, please visit the event website (www.isdbg-psf.org).

Organize 14^th Private Sector Forum in Baku, Azerbaijan (16-19 June 2026)

Baku, Azerbaijan, 17 June 2026 – The Islamic Development Bank (IsDB) Group’s affiliated institutions organized the 14^th Private Sector Forum (PSF) from June 16 to 19, 2026, at Baku Convention Center in Baku, the capital city of the Republic of Azerbaijan.

The forum was convened on the sidelines of the IsDB Group’s 2026 Annual Meetings, under the high patronage of His Excellency Ilham Aliyev, President of the Republic of Azerbaijan.

The forum highlighted IsDB Group’s activities and initiatives aimed at empowering both public and private sectors in member countries, particularly in the Republic of Azerbaijan.

The discussions focused on prevailing opportunities and challenges facing the business sector and highlighted the Group’s suite of financing instruments, including lines of financing, private sector financing, trade development support, investment insurance, and export credit facilities, among others.

The forum agenda featured a series of dialogue sessions addressing key economic themes and development projects. Participants also attended presentations on trade and investment opportunities. In addition, bilateral meetings between public and private sector institutions (B2B and B2G) facilitated networking, strategic partnerships, experience sharing, and the promotion of success ventures.

In addition to the dialogue sessions, the forum hosted the Halal Economy Leadership Forum, which brought together policymakers, industry leaders, and experts to discuss emerging opportunities and challenges within the global halal economy. The event also featured the IsDB Group Startups Competition, providing an important platform for innovative entrepreneurs from member countries to showcase their solutions before investors, development institutions, and business leaders. The winners of the competition and the Private Sector Forum Awards were recognized during a dedicated awards ceremony honoring outstanding achievements in entrepreneurship, innovation, investment, trade, and private sector development.

The forum attracted high-level participation from Azerbaijan government officials, presidents and CEOs of local, regional, and international private sector companies, investors, businessmen, chambers of commerce and industry, trade and investment promotion bodies, and regional and international financial and development institutions.

In his speech, H.E. Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the Board of Governors of the Islamic Development Bank (IsDB), stated: “Azerbaijan highly values its partnership with the Islamic Development Bank Group and remains committed to deepening trade, business, and investment cooperation with member countries. Leveraging its strategic location at the crossroads of Europe  and Asia, modern transport infrastructure, and ongoing economic diversification efforts, Azerbaijan serves as an important platform for regional connectivity and sustainable growth. By combining the country’s investment potential with the IsDB Group’s financial capabilities, global expertise, and extensive network, we can unlock new opportunities for impactful projects that advance economic development and deliver long-term benefits across the region.”

In his opening remarks, His Excellency Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group, welcomed all participants to the forum. He stated: “At the Islamic Development Bank Group, we firmly believe that the private sector is not a supporting actor in development — it is the lead actor. Our role is clear: to remove obstacles, reduce risks, and open doors. We will continue to stand as a committed partner—mobilizing finance, mitigating risk, and enabling trade and investment that drive inclusive, resilient, and sustainable growth”

During the CEOs session, Dr. Khalid Yousif Khalafalla, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Acting CEO of the Islamic Corporation for the Development of the Private Sector (ICD), stated: “The Private Sector Forum witnessed a distinguished cohort of partners from both public and private sectors. Sustainability and development constitute the core focus of our mission, as we strive to unify the efforts of our private sector partners and other financing agencies to bridge the sustainable financing gap, provide co-financing opportunities, and develop innovative solutions to address the challenges of sustainable development. In this context, from ICD side, we are proud of our role in private sector development by providing effective financing solutions to financial institutions and large corporations, as well as facilitating access to suitable financing for small and medium enterprises. We also continue to finance infrastructure projects that enhance development impact, encourage cross-border investment, support member countries’ exports, and create new job opportunities. In fact, ICD has achieved approximately $7.1 billion in cumulative approvals. Last year, the total financing directed towards SMEs reached USD 661.9 million. ICD supported institutions collectively employed 178,988 staff members.”

He added, “Since its inception and up to the end of 2025, ICIEC has provided cumulative insurance cover exceeding USD 139 billion, including USD 108 billion in support of trade flows and more than USD 31 billion to facilitate foreign investment across its Member States. Of this, intra-OIC trade and investment accounted for more than USD 66 billion, reflecting ICIEC’s role in strengthening economic cooperation among Member Countries. In 2025 alone, ICIEC enabled USD 1.9 billion in Islamic trade and investment finance, supported more than 294,000 jobs, and reached around 6,000 SMEs. Through its Shariah-compliant credit and political risk insurance solutions, ICIEC continues to mobilize capital, reduce risk, and support sustainable development across strategic sectors.”

On his part, Eng. Adeeb Yousuf Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated: “The 14^th edition of the Private Sector Forum reaffirmed the vital role of the private sector in fostering economic growth, generating employment, and reducing poverty in member countries. The active participation of the business community greatly enriched discussions and strengthened collaborative efforts to promote economic resilience and business dynamism.

He added: “Since its inception in 2008, ITFC has extended over US$96 billion in trade financing to OIC member countries, becoming the leading provider of trade solutions in the region. Of this, US$20 billion was allocated to support private sector and SMEs – combining financial support, technical assistance, and capacity building efforts to help these enterprises access regional and international markets. In 2025 alone, ITFC approved US$9.3 billion in trade finance and disbursed US$7.5 billion across its member countries. Through its operations, the Corporation supported more than 120,000 jobs, provided access to finance for 546 corporates and SMEs, and facilitated US$7.8 billion in intra-OIC trade. These achievements reflect ITFC’s continued commitment to strengthening private sector competitiveness, enhancing trade connectivity, and fostering sustainable economic growth across OIC member countries.”

For more information, please visit the event website (www.isdbg-psf.org).

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The Forum brought together distinguished policymakers, regulators, development practitioners, and industry leaders to explore how Islamic finance can foster sustainable prosperity and address development challenges across Member Countries.

Aligned with the broader Annual Meetings theme, “Regional Integration for Sustainable Prosperity,” the Forum examined how countries and institutions can leverage Islamic finance to deepen regional integration, enhance economic resilience, and promote inclusive growth across IsDB Member Countries.

In his keynote speech, Mr. Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, reaffirmed Azerbaijan’s commitment to contributing to the future development of the Islamic finance ecosystem, highlighting the country’s role as a reformer and a bridge between regions and markets. He emphasized the importance of a clear strategic vision in shaping future growth and cooperation.

Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, in a keynote speech on behalf of the IsDB Group, emphasized that Islamic finance should not be viewed merely as an alternative set of financial contracts or a niche segment of the global financial industry, but rather as a values-driven development paradigm that reconnects finance with the real economy, productive activity, shared prosperity, and social well-being.

In his opening remarks, Dr. Sami Al-Suwailem, Acting Director General of IsDB Institute, highlighted the significant contribution of the IsDB Group to the development of the global Islamic finance industry, now valued at approximately US$ 4-5 trillion. He underscored the importance of innovation in maintaining the leadership of the IsDB Group and ensuring the industry remains relevant and continues to contribute to sustainable development.

Key highlights of the forum included:

• The launch of a new report titled “Islamic Finance in Azerbaijan: Breaking New Ground,” jointly produced by IsDBI and ITFC, along with other flagship publications.
• Announcement of a memorandum of understanding between IsDBI and the Labuan Financial Services Authority to explore the Awqaf Free Zones flagship project.
• Two high-level panel discussions focusing on Islamic finance and development.
• Recognition of top performers in the Applied AI in Islamic Finance Competency Challenge.

The first panel session explored how Islamic finance can help countries overcome structural development challenges and achieve sustainable economic transformation. Speakers included Mr. Shahin Aydin Mahmudzade, Executive Director, Central Bank of Azerbaijan; Mr. Adnan Zaylani, Deputy Governor, Bank Negara Malaysia; Ms. Mihoko Kumamoto, Director, Division for Prosperity, UNITAR; Dr. Bambang Brodjonegoro, Dean, Asian Development Bank Institute; and Dr. Areef Suleman, Chief Economist, IsDB Group. The session was moderated by Mr. Mustafa Adil, Head of Islamic Finance, London Stock Exchange Group.

The second panel session examined practical approaches to mobilizing sustainable finance in support of food and energy security, drawing on insights from Member Countries and partner institutions. Speakers included Mr. Valeh Alasgarov, Chairman of the Board, AFEZ Authority, Azerbaijan; Dr. Mansur Muhtar, Chairman of the Board, Bank of Industry, Nigeria; Professor Emeritus Dato’ Dr. Azmi Omar, President & CEO, INCEIF University; and Mr. Orkhan Vidadi oglu Mammadov, Chairman, Small and Medium Business Development Agency of Azerbaijan (KOBİA). The session was moderated by Mr. Yahya Rehman, Associate Manager, IsDBI.

Winners of the Applied AI in Islamic Finance Competency Challenge were also recognized, as follows: Mr. Emin Jaafar (AlifPay) received first place, followed by Mr. Khalil Ben Mohamed (Ayech) in second place, and Mr. Elchin Huseyn (Mink Platform) in third place.

The Forum identified key priority areas for future collaboration, including scaling innovative Islamic finance instruments, strengthening institutional partnerships, and enhancing capacity development initiatives. It also reinforced the role of the IsDB Institute as a key partner in advancing practical, innovative solutions that support sustainable development and regional integration within the framework of Islamic finance. A video recording of the Forum is available here: https://www.youtube.com/live/nGTPhP7y3lw

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INDIA: SAMCO Securities, a leading investment technology platform, today announced the launch of its Global Investing offering following the grant of a broker-dealer licence by the International Financial Services Centres Authority (IFSCA) from GIFT City, Gandhinagar.  This approval will enable Indian investors to invest in US-listed stocks and ETFs through the SAMCO Trading App of SAMCO Securities, a regulated, research-backed platform powered through GIFT City.

The launch comes at a time when interest in global investing is growing rapidly among Indian investors. While access to international markets has become easier, one fundamental challenge remains: investors can own almost any stock in the world, but very few platforms help them identify which opportunities are worth investing in. SAMCO aims to bridge this gap by combining global market access with institutional-grade research and investment guidance.

The need for global diversification has become increasingly relevant amid rising geopolitical uncertainty, rupee depreciation, and concentration risk in domestic portfolios. India accounts for just ~3% of global market capitalisation, leaving investors underexposed to many of the world’s largest wealth-creating businesses and sectors such as artificial intelligence, semiconductors, cloud infrastructure, biotechnology, and cybersecurity, which have limited representation in Indian markets.

Despite growing awareness, a significant gap remains between investor aspiration and action. While many investors express interest in building global portfolios, actual participation remains low due to a lack of research, guidance, and confidence in evaluating international opportunities. SAMCO’s Global Investing platform seeks to address these barriers by making informed global investing accessible to everyday investors.

Unlike platforms that offer only market access, SAMCO Securities’ solution integrates quantitative research, investment recommendations, target prices, stop-loss frameworks, and portfolio monitoring. The platform provides research coverage on more than 700 global securities, including constituents of the S&P 500, NASDAQ 100, and over 100 ETFs. Investors can start with fractional ownership from as low as $1 and complete onboarding digitally through the existing SAMCO app under the Liberalised Remittance Scheme (LRS).

Commenting on the launch, Jimeet Modi, Founder & CEO, SAMCO Group, said: “Prudent investing has never been about choosing one market over another; it has always been about diversification. At SAMCO, we believe global investing should be driven by research, not speculation. Through our platform, investors will have access to research coverage on more than 700 global securities, including S&P 500 companies, NASDAQ 100 constituents, and over 100 ETFs. Many of these companies are driving the world’s structural transformation in AI, biotechnology, and energy, which are listed outside India. Our objective is to empower Indian investors with both access and conviction, enabling them to build globally diversified portfolios with confidence.”

Ulhas Joshi, CEO, SAMCO Securities, said: “The world continues to create and compound wealth through globally dominant businesses, yet a large majority of Indian household savings remain concentrated in domestic assets. We see global investing not as a trend, but as an essential component of modern portfolio construction. By combining regulated access, seamless execution, and actionable research, we are making global investing simpler, more informed, and more accessible for Indian investors.”

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Marking its 20th edition, the forum serves as a flagship platform for high-level dialogue, convening policymakers, regulators, development practitioners, academics, and industry leaders to advance innovation and development in Islamic finance. This year’s forum will focus on strengthening regional integration and unlocking sustainable growth across IsDB member countries through Islamic finance solutions.

The forum will examine how Islamic finance can help address structural development challenges, including “development traps” that constrain inclusive growth and resilience. It will also highlight innovative Islamic social finance mechanisms, particularly Awqaf Free Zones, as tools for mobilizing sustainable resources to support food and energy security.

Key highlights of the forum include keynote speeches, launch of a new report on the prospects of Islamic Finance in Azerbaijan alongside other flagship publications, announcement of a memorandum of understanding between IsDBI and Labuan Financial Services Authority, distinguished panel discussion sessions, and unveiling of top achievers in the Applied AI in Islamic Finance Competency Challenge.

H.E. Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, will deliver the first keynote speech, followed by Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, whose speech will be on behalf of the IsDB Group. Dr. Sami Al-Suwailem, Acting Director General of IsDBI, will deliver the welcome remarks.

The first panel session will explore how Islamic finance can help countries overcome development barriers and achieve sustainable economic transformation. The panelists include Mr. Shahin Aydin Mahmudzade, Executive Director, Central Bank of Azerbaijan; Mr. Adnan Zaylani, Deputy Governor, Bank Negara Malaysia; Ms. Mihoko Kumamoto, Director, Division for Prosperity, UNITAR; Dr. Bambang Brodjonegoro, Dean, Asian Development Bank Institute; and Dr. Areef Suleman, Chief Economist, IsDB Group. The session will be moderated by Mr. Mustafa Adil, Head of Islamic Finance, London Stock Exchange Group.

The second panel session will examine innovative approaches to mobilizing Islamic social finance, particularly through Awqaf Free Zones, to address global food and energy challenges. The speakers include Mr. Valeh Alasgarov, Chairman of the Board, AFEZ Authority, Azerbaijan; Dr. Mansur Muhtar, Chairman of the Board, Bank of Industry, Nigeria; Professor Emeritus Dato’ Dr. Azmi Omar, President & CEO, INCEIF University; and Mr. Orkhan Vidadi oglu Mammadov, Chairman, Small and Medium Business Development Agency of Azerbaijan (KOBİA). The session will be moderated by Mr. Yahya Rehman, Associate Manager, IsDBI.

The forum is expected to generate actionable recommendations, strengthen partnerships, promote stakeholder collaboration, and advance innovative, AI-enabled tools to support the growth of Islamic finance globally.

More information about the forum is available on the IsDBI website here.

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PUNE: Accelerating India’s trajectory toward Viksit Bharat 2047, the Pune Chapter of the Hindu Economic Forum (HEF) successfully concluded its high-profile Shakti Summit 2026 at the Pune International Centre. The summit represented an operational launchpad for Bharat’s Strategic Power Framework: Strategic Defence & Aerospace, Hindu Temple Economy, Artificial Intelligence, Knowledge & Media, Technology, and Infrastructure. 

The Summit delivered extensively on its multipronged objective: anchoring indigenous Artificial Intelligence, unlocking domestic venture capital, and reinforcing strategic self-reliance (Atmanirbharta) across critical defence and economic ecosystems

Shri Jishnu Dev Varma, Hon’ble Governor of Maharashtra, graced the event as the Chief Guest, delivering the special address. He underlined the importance of stronger collaboration between government, industry, investors, and knowledge institutions in sectors central to India’s long-term growth and strategic self-reliance.

Gaurav Tripathi, President, HEF Pune District Chapter, and Co-founder & CTO, Partex.AI said, “The SHAKTI Summit 2026 marks a paradigm shift in how we approach economic growth. We are now building an execution-first ecosystem where serious capital, strategic industrial sectors, and civilizational clarity converge.

The Pune AI Grid is positioning Pune as the Applied AI and Strategic Capital of Bharat by redoubling its manufacturing and digital prowess. By aligning our deep research talent, robust industrial shopfloors, and foundational infrastructure, we are turning national priorities like Atmanirbhar Bharat into measurable economic milestones.”

The $500 Million Pune AI Vision:

Partex.AI presented a comprehensive roadmap to establish Pune as the global capital of applied AI: from a $50 million foundation phase with distributed GPU clusters and an AI Model Foundry, scaling to a $500 million platform aimed at training 100,000 professionals and developing exportable solutions for defence, manufacturing, and healthcare.

Dr. Gunjan Bharadwaj, Founder & CEO, Partex.AI, stated: “The Pune AI Vision is an opportunity to leverage exploratory and exploitative innovation on a scale that few cities globally can match. By unifying Pune’s unique constellation of talent, we can build decision-making technology that transforms not just Indian industry, but the world. Partex is committed to being a partner in this vision, bringing our expertise in AI-driven platforms to accelerate innovation across defence, manufacturing, and life sciences.”

India’s First Indigenous Autonomous Surface Vehicle on Display for the First Time:

Accurate Industrial Controls displayed ISACA, India’s first indigenously developed Autonomous Surface Vessel. Validated through Indian Navy-evaluated trials, ISACA combines AI, sensor fusion, and indigenous collision-avoidance software, marking a major milestone in India’s maritime autonomy.

Shri Kiran Jadhav, Chairman & Managing Director, Accurate Group, said: “Indigenous autonomous vessel technology is a statement of India’s capability and our resolve for Atmanirbharta. At the SHAKTI Summit, we created the conditions for transformative solutions that will serve our nation’s defence and maritime strength.”

Strategic Discussions on critical sectors: formed a highlight of the summit, covering defence, aerospace, rare earths, infrastructure, technology, temple economy, AI, startups – by a diverse selection of industry leaders, founders, and experts.

To ensure these strategic conversations yield tangible results, the HEF Pune District Chapter announced the formation of a Defence Working Group, reinforcing their commitment to structured, post-summit follow-through.

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MUMBAI: On World Environment Day, AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank and the first institution in over a decade to receive in-principle approval from the Reserve Bank of India to transition into a Universal Bank, reaffirmed its commitment to supporting India’s transition to a low-carbon and climate-resilient future through a focused and integrated sustainability strategy.

The Bank’s approach to climate action is anchored in three key pillars – Climate Finance, Greening Operations, and Community Engagement, enabling it to drive meaningful impact across its business and beyond.

Commenting on World Environment Day, Sanjay Agarwal, Founder, MD & CEO, AU Small Finance Bank, said, “Climate action requires a sustained and collective effort, and financial institutions have a critical role to play in enabling this transition. At AU Small Finance Bank, we are integrating sustainability across our core business through climate-focused financing, responsible operations, and community engagement. Our strong momentum in renewable energy financing, supported by our Green Deposit mobilisation, reflects our commitment to creating long-term value while contributing meaningfully to India’s climate goals.”

Driving Climate Finance with a Strong Focus on Renewable Energy

AU SFB has strengthened its climate finance efforts through its Green Fixed Deposit (Green FD) offering, a specialised deposit product with dedicated deployment towards eligible green assets.

As on 31 March 2026, the Bank has mobilised 24,520 Green Fixed Deposits, aggregating to approximately ₹2,950 crore, with 100% deployment into green assets. These include renewable energy (primarily solar projects), clean transportation (electric vehicles), and green buildings, with renewable energy emerging as the dominant focus area.

Renewable energy has become a key segment within AU SFB’s green asset portfolio, reflecting both strong market demand and the Bank’s strategic commitment to enabling low-carbon growth. The Bank continues to play an active role in financing India’s clean energy transition by supporting businesses and entrepreneurs across solar, wind, and other emerging clean energy segments through tailored financing solutions.

The Bank’s renewable financing footprint spans key high-growth corridors, including Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Uttar Pradesh, Punjab, Karnataka, Telangana, and Haryana, positioning AU SFB as a credible partner in India’s expanding clean energy ecosystem.

Greening Operations through Digital and Efficient Banking

Alongside financing climate solutions, AU SFB is committed to reducing its own environmental footprint through responsible and efficient operational practices.

The Bank is actively promoting video banking solutions, enabling customers to access services seamlessly while reducing the need for physical visits to branches. This shift helps lower commute-related emissions while also improving customer convenience and operational efficiency.  Further strengthening its digital-first approach, the Bank has expanded end-to-end digital onboarding and sourcing journeys, including paperless customer acquisition through its digital sales platform and Straight-Through Processing (STP) capabilities. AI-powered customer onboarding, digital loan journeys, workflow automation across back-office functions, and integrated digital servicing platforms have helped reduce manual interventions, physical documentation, and paper consumption.

Strengthening Communities through Environmental Initiatives

As part of its commitment to inclusive and sustainable development, AU SFB continues to invest in community-led environmental initiatives.

The Bank undertakes afforestation drives and water conservation programmes, contributing to ecosystem restoration, groundwater recharge, and climate resilience at the grassroots level. These initiatives are designed to deliver measurable environmental and social impact. Recent initiatives, including the restoration of Chennai’s Medavakkam Lake, exemplify the bank’s commitment to rejuvenation projects that boost regional groundwater and biodiversity.

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The bulk of NPS participation is concentrated among older investors, with the 30–60 age group accounting for 76% of all subscribers. By the time many Indians begin planning for retirement, they have already lost the biggest advantage long-term investing offers: time. In contrast, the under-30 segment, where even small and consistent contributions can compound meaningfully over decades, remains significantly underpenetrated.

The contribution numbers make this even clearer. The average subscriber under 30 contributes around ₹2,500 a month, while those between 55 and 60 invest nearly ₹18,000. Part of this gap reflects income levels, but it also reflects perspective.

Younger investors still have time on their side, allowing smaller, consistent contributions to compound over decades. Older investors, on the other hand, often contribute larger amounts because retirement is closer and the window to build a meaningful corpus is far narrower.

One bright spot in the Aditya Birla Sun Life Pension Fund Management data stands out. Investors under 30 allocate 61% of their NPS corpus to equities, the highest among age groups. The risk appetite is there. What is missing is consistency.

Furthermore, women represent just 23% of NPS subscribers. Given that women on average outlive men and face greater financial vulnerability in retirement, this is a gap with real consequences, not just for individuals, but for household retirement security across the country.

The NPS infrastructure is accessible and low-cost. The awareness, clearly, still has a long way to go. What makes NPS particularly powerful for younger investors is the combination of compounding and disciplined investing. Even small monthly contributions, when invested consistently over long periods, can compound significantly.

The lock-in structure of NPS also plays an important role by encouraging long-term financial discipline and preventing premature withdrawals driven by short-term market movements or lifestyle spending. Over decades, these seemingly modest contributions can help solve for a much larger purpose: financial independence in retirement.

India is sitting on a demographic dividend with an expiry date. The young Indians who start now, contribute consistently, and stay invested may not see the real benefits for decades, but that is exactly what makes starting early so important, because time is the biggest driver of long-term compounding and retirement security.

¹https://www.ey.com/en_in/insights/india-at-100/reaping-the-demographic-dividend#:~:text=The%20fact%20that%20India%20has,Europe%20is%20over%20~21%25.

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