The high-profile event, which took place on Thursday, 7^th May 2026, at Azerbaijan’s Ministry of Economy, came as part of ongoing preparations for the upcoming IsDB Group Annual Meetings and Private Sector Forum (PSF 2026), scheduled to take place from 16 to 19 June 2026, under the high patronage of His Excellency President Ilham Aliyev, the President of the Republic of Azerbaijan.

Bringing together a diverse range of stakeholders, the Forum showcased IsDB Group services, activities, and initiatives across its 57 member countries, with particular emphasis on Azerbaijan. It highlighted the Group’s ongoing support for private sector development and its efforts to stimulate promising investment and trade opportunities in the Azerbaijani market.

The event also served as a unique opportunity, inviting the audience to participate actively in IsDB Group Annual Meetings and the Private Sector Forum (PSF 2026). The program included panel discussions and specialized workshops on ways to enhance economic partnerships and the role of IsDB Group’s institutions in supporting the needs of member countries. The spectra of services, solutions, and financial tools were also presented, including lines and modes of Islamic financing, trade finance, and trade development solutions, corporate private sector financing, as well as risk mitigation solutions, plus investment insurance and export credit insurance services.

Keynote speakers, in their speeches, underlined strong commitment to deepening engagement with the private sector and fostering meaningful partnerships that drive sustainable economic growth in light of the upcoming IsDB Group Annual Meetings in Baku, all to showcase integrated solutions especially in Islamic finance, trade, investment, and risk mitigation while working closely and collectively with private sector partners to unlock new opportunities, support innovation, and empower businesses contributing to inclusive and resilient development across IsDB Group member countries.

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The session will bring together government officials, financial institutions, export credit agencies, investors, and development partners to discuss how risk mitigation solutions can mobilize private capital, strengthen regional integration, and support sustainable growth across Azerbaijan and the wider OIC region.

With Azerbaijan’s strategic location between Europe and Asia, and its growing role in connectivity, logistics, renewable energy, infrastructure, and non-oil economic diversification, the HLPD will highlight practical opportunities for de-risked investment and cross-border cooperation. The discussion will also showcase how ICIEC’s Shariah-compliant political risk insurance and credit enhancement solutions can help address investment barriers, enhance investor confidence, and unlock financing for priority development projects.

ICIEC’s CEO, Dr. Khalid Khalafalla, stated, “This high-level panel discussion is an important platform to advance dialogue and partnerships around regional integration. Through its risk mitigation solutions, ICIEC helps turn investment opportunities into bankable projects that support trade, investment, and sustainable development across Member States.”

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The event follows the successful launch of “Chad Connection 2030” in Abu Dhabi a few months ago, which signaled IsDB’s commitment to support development projects aligned with Chad’s National Development Plan.

Chad’s Prime Minister Allamaye Halina attended the January 26 event in N’Djamena, organized in partnership with the Ministry of Finance, Budget, Economy, Planning, and International Cooperation.

Dr. Issa Faye led the IsDB Group delegation, representing IsDB President Dr. Muhammad Al Jasser. Cabinet ministers, senior officials, and representatives from regional financial institutions and private companies also participated.

The event aimed to deepen cooperation and align IsDB Group support with Chad’s National Development Plan.

H.E. Allamaye Halina, Prime Minister of the Republic of Chad, stated: “Chad is entering a phase where translating vision into concrete projects is essential. The Islamic Development Bank Group is a trusted partner in this effort, particularly in strengthening financial implementation, capacity building, and mobilising investment that delivers tangible impact for our population.“

H.E. Tahir Hamid Nguilin, Minister of Finance, Budget, Economy, Planning, and International Cooperation of the Republic of Chad, stressed the following: “Our priority is to boost trade through coherence between public policy, effective financing mechanisms,s and private sector mobilisation. The IsDB plays a key role in supporting this approach, notably through project structuring, risk mitigation instruments, and blended financing solutions”.

Dr. Issa Faye, IsDB Director General for Global Practices and Partnerships, and Group Head of Delegation, stated: “The IsDB Group’s commitment to Chad is focused on delivering integrated solutions that combine financing and technical assistance. During the country engagement dialogue, the IsDB team, in conjunction with relevant authorities, will explore all available solutions from both public and private sector sources to ensure that the co-created development solutions are holistic. Through closer coordination with national authorities and local stakeholders, we aim to accelerate project delivery, building resilience and supporting high-impact initiatives aligned with  Chad Connection 2030. particularly in agriculture, technology, and infrastructure.”

One of the main features of the program was a panel discussion on Chad’s development priorities and the role of IsDB Group, aimed at formulating practical avenues of cooperation and forging strategic partnerships to support Chad’s path towards sustainable and inclusive development.

A series of bilateral (B2B and B2G) meetings was held amongst representatives of the IsDB Group, business leaders, investors, and financial institutions to explore opportunities for cooperation and partnerships with the Islamic Development Bank Group. Inspiring success stories implemented in Chad in partnership with local entrepreneurs, as well as local and international institutions, were presented

The event also highlighted the activities, services, and initiatives of IsDB Group institutions, including the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), the International Islamic Trade Finance Corporation (ITFC), the Islamic Development Bank Institute (IsDBI), and the Islamic Development Bank Group Business Forum (THIQAH).

The day concluded with a reaffirmation of the Islamic Development Bank Group’s commitment to continue working with the Chadian government and the country’s private sector to further build strategic partnerships, expand investment opportunities, and enhance the business environment, thereby contributing to the achievement of sustainable development in Chad.

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The DCIP was signed by Dr. Khalid Khalafalla, CEO of ICIEC, and Mr Ahmed Atteya, Head of Financial Institutions at Al Baraka Bank Egypt. This underscores the critical role of tailored risk-mitigation instruments in de-risking and enabling cross-border trade.

The insurance policy provides a comprehensive coverage for Al Baraka Bank’s documentary credit transactions by protecting the bank againt non-payment risk of overseas banks issing letters of credit (LCs). This enables to enlarge its LC confirmation business to support Egyptian exports.

Dr. Khalid Khalafalla, CEO of ICIEC, stated, “We are honored to partner with Al Baraka Bank – Egypt on this Documentary Credit Insurance Policy to de-risk Egyptian exports. This collaboration strengthens economic resilience and supports growth across our member states.”

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Medikids secured first place for its innovative waqf initiative, addressing waqf management challenges in Indonesia. The initiative leverages dental clinics for children and families to generate sustainable funding. Established in 2018, Medikids achieved financial stability within three years and launched a scholarship program for healthcare professionals in its second year. A portion of its net profit waqf is dedicated to enhancing waqf assets and various social welfare initiatives.

The selection committee has decided to withhold the second-place award.

The third-place prize was awarded to the Blue Filter initiative, which created a prototype to purify water by removing harmful pollutants like nitrates, chloride, and heavy metals. This technology combines natural filtration techniques with advanced automation and control systems, resulting in a solution that is both sustainable and highly effective. It also features real-time monitoring and loss management systems to ensure optimal performance and minimize water waste.

The prizes will be presented at the IsDB Group Annual Meetings, scheduled for 19-22 May 2025, in Algiers, Algeria.

IsDB Group Chairman HE Dr. Muhammad Al Jasser congratulated the winners, praised their contributions to Islamic economics, and wished them continued success. “The IsDB Prize serves as a key driver of strategic significance, promoting the transformation of knowledge and principles of Islamic economics into actionable initiatives and innovative projects aimed at fostering comprehensive economic development,” stated Dr. Al Jasser.

The winners were chosen by the IsDB Prize Selection Committee, which comprises eminent experts and scholars, coordinated by the IsDB Institute.

Excerpts from the IsDB Prize Selection Committee Citations:

Medikids Clinic

• It serves the important role of civil society waqf in supporting the mission of a combined health sector and education sector, serving the underprivileged component of society.
• The waqf-based model is considered sustainable due to its appropriate earning incentive framework, which is in harmony with the principles of Islamic economics.

Blue Filter

• It provides a potential solution for IsDB member countries while aligning with the strategic goals of the IsDB, especially concerning food and water security.
• The model emphasizing blue and bio elements has rendered it more appealing than alternative solutions that are generally contaminated with chemicals.

Established in 1988 as the ‘IsDB Prize in Islamic Economics, Banking, and Finance,’ the prize expanded in 2020 to recognize achievements in two categories, offered alternately: (i) Development Achievement and (ii) Knowledge Contribution. The 1446H (2025) Prize cycle focuses on Development Achievement, highlighting successful projects addressing development challenges in IsDB member countries and Muslim communities worldwide.

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Organized annually as a flagship side event of the Annual Meetings, this year’s Forum will bring together thought leaders, policymakers, financial experts, and other stakeholders in the Islamic finance industry to deliberate on innovative tools to foster sustainable development.

Under the theme “Digital Transformation and Financial Inclusion in Islamic Finance”, this year’s forum is jointly organized by the IsDB Institute, the Kuala Lumpur Center of Excellence, the Resilience and Climate Action Department, and the Treasury Department.

The forum will have keynote speeches by H.E. Dr. Muhammad Al Jasser, Chairman of the IsDB Group; H.E. Salah Eddine Taleb, Governor of the Bank of Algeria; H.E. Mr. Nikolai Podguzov, Chairman of Eurasian Development Bank (EDB); and H.E. Dr. Noureddine Ouadah, Minister of Knowledge Economy, Startups and Micro Enterprises, Algeria.

Subsequently, the Forum will have two sessions. The first is a panel discussion on leveraging the potential of postal services and digital Islamic finance tools. The panelists for this session will include Mr. Ihab Zaghloul, Program Manager of Financial Inclusion at the Universal Postal Union (UPU); Dr. Mohammad Farrukh Raza, Group CEO of Islamic Finance Advisory & Assurance Services (IFAAS); and Dr. Ali Mohamed Bourouiba, Head of Innovation & Products Development at Al Salam Bank. The panel will be moderated by Dr. Hilal Houssain, Associate Manager of Knowledge Solutions at IsDBI.

The second session will showcase IsDB’s leadership in sustainable finance and explore the integration of Islamic finance principles in existing sustainable finance frameworks. The discussants will include Sheikh Prof. Dr. Mohamed Ali Elgari, Chairman of the IsDB Group Shariah Board; Mrs. Sharifatul Hanizah Said Ali, Executive Director of the Securities Commission Malaysia; and Dr. Ghiath Shabsigh, Secretary General of the Islamic Financial Services Board. The session will be moderated by Dr. Zamir Iqbal, IsDB Vice President (Finance) and CFO.

Additionally, the Forum will unveil two groundbreaking reports. The first, titled “Islamic Finance in Central Asia”, was developed in partnership with the Eurasian Development Bank. The second report, “Islamic Microfinance Toolkit”, is a collaborative effort with the IsDB Global Practice and Partnerships Directorate.

The IsDB Global Forum on Islamic Finance is an annual high-level forum initiated in 2006 as a platform for strategic policy dialogue on knowledge and innovation in Islamic finance and development. More information about the 2025 Forum is available on the IsDB Group Annual Meetings website here: https://am.isdb.org/index.php/event/19th-isdb-global-forum-on-islamic-finance/

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The event was held on 6 November 2024 at the Islamic Development Bank (IsDB) headquarters in Jeddah, Saudi Arabia, as part of the 7th Saudi Spanish Center for Islamic Economics and Finance (SCIEF) Islamic Finance Executive Program. This prestigious gathering brought together professionals from Saudi Arabia, Qatar, Nigeria, Australia, and Spain.

The event featured extensive discussions on the role of Islamic finance in addressing modern-day challenges and how the IsDB Group is supporting the socioeconomic development of its member countries and Muslim communities worldwide. The program delved into critical topics shaping the global development landscape, including:

• Women and Youth Empowerment (WYE): Facilitated by Mr. Ahmed Faruk Diken (Manager of WYE at IsDB), participants explored strategies to empower women and youth, fostering their active participation in economic and social development.
• Climate Action and Sustainability: Facilitated by Mrs. Farhat Jahan Chowdhury (Senior Environmental Safeguards Specialist at IsDB), this session provided insights into innovative approaches to address climate change, promoting sustainable practices and green finance solutions.
• Sukuk Issuance and Sustainable Finance Framework: Facilitated by Mr. Mohsin Sharif (Senior ESG & Investor Relations Specialist at IsDB) and Mr. Mustafa Binomar (Senior Capital Markets Specialist at IsDB), the session delved into the intricacies of Sukuk issuance and sustainable finance, showcasing IsDB’s pioneering role in this area.
• Innovative Solutions for Economic Challenges: Facilitated by Dr. Sami Al-Suwailem (Acting Director General, IsDBI) with support from Mr. Yahya Rehman (Associate Manager at IsDBI), Dr. Hilal Houssain (Associate Manager at IsDBI) and moderated by Dr. Hylmun Izhar (Senior Research Economist at IsDBI). This session explored IsDBI’s cutting-edge solutions to address the complex economic challenges faced by IsDB member countries, fostering a culture of innovation and problem-solving.

Through a combination of expert lectures, interactive workshops, and case studies, the program provided participants with the essential knowledge, skills, and networks needed to drive positive changes.

The sessions were enriched with practical examples drawn from IsDB’s activities in its member countries, covering a range of relevant topics. By fostering collaboration and knowledge sharing, IsDBI remains committed to empowering future leaders to shape a prosperous and sustainable future.

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The training program was designed to enhance the capacity of Nigerian Ministry of Finance officials to effectively engage with Islamic financial institutions and promote the growth of the non-interest-based finance industry in Nigeria. Experts from the IsDB Institute, with support from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), delivered insightful sessions on a range of topics, including:

• Islamic Banking: Exploring the fundamentals of Islamic banking operations, risk management, and regulatory frameworks.
• Islamic Capital Markets: Delving into the intricacies of Islamic capital market instruments, Sukuk issuance, and investment strategies.
• Islamic Insurance (Takaful): Understanding the principles of risk sharing and cooperation in Islamic insurance.
• Islamic Social Finance: Examining the role of Islamic finance in addressing social and economic challenges, particularly in areas such as poverty alleviation and sustainable development.
• Islamic Finance and SDGs: Exploring the potential of Islamic finance in contributing to the achievement of the Sustainable Development Goals (SDGs) and promoting sustainable development.

The training program was developed in coordination with the IsDB Regional Hub in Abuja, Nigeria. By imparting this knowledge and expertise, the IsDB Institute aims to empower the staff of H.E. the IsDB Governor’s Office at the Federal Ministry of Finance to make informed decisions, develop innovative non-interest-based finance solutions, and drive the country’s economic growth.

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The two-day conference, scheduled for 3-4 November 2024, will be held at Crowne Plaza, Kingdom of Bahrain. This year’s conference is themed: “Leveraging Islamic Finance to Build a Sustainable, Efficient, and Resilient Halal Ecosystem for Muslim Economies”.

Considered one of the most significant gatherings in the Islamic finance industry, the conference this year will host Shari’ah scholars, policymakers, and decision-makers to discuss pressing matters in the Islamic finance industry globally. The conference will be supported by a variety of partners and sponsors, including Islamic banks and financial institutions, academic institutions, technology companies, and other support service providers and knowledge-sharing platforms.

H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of AAOIFI Board of Trustees remarked on this occasion: “We are honored to once again host our annual conference in Bahrain. We eagerly anticipate engaging in discussions on vital issues and Islamic finance-based approaches and solutions that can be leveraged to build a sustainable, efficient, and resilient Halal ecosystem for Muslim economies. We extend our profound appreciation to the Central Bank of Bahrain and the Islamic Development Bank for their unwavering support to AAOIFI and its pivotal initiatives, encompassing this important conference. In sha Allah, we look forward to welcoming all AAOIFI stakeholders to Bahrain”.

The two-day conference will feature keynote addresses from distinguished dignitaries and policymakers, along with seven-panel discussion sessions. These discussions will explore how Islamic finance can build a sustainable Halal ecosystem, covering topics such as transitioning from Halal finance to a Halal economy, enhancing supply chains, and addressing governance and transparency in Islamic finance, among other relevant topics.

Khalid Al Hamad, Executive Director of Banking Supervision at the Central Bank of Bahrain, also commented on this occasion: “The Central Bank of Bahrain is pleased to support this conference, which underscores our ongoing commitment to the advancement of Islamic finance both locally and globally. This conference provides a valuable opportunity for stakeholders to examine the evolving dynamics of Islamic finance and its broader economic implications. It is essential that we continuously evaluate and refine our strategies to address the diverse needs of the stakeholders. We believe the insights gained from this conference will play a crucial role in shaping and improving economic and financial practices worldwide”.

Dr. Sami Al-Suwailem, Acting Director General of IsDB Institute, also commented on this occasion: “The Islamic Development Bank is committed to showcasing how Islamic finance can build a more sustainable, efficient, and resilient Halal ecosystem. Our focus is on leveraging innovative financial strategies and practices rooted in Islamic principles, rules, and values, as well as AAOIFI standards, to drive economic efficiency, financial stability, and long-term growth in Muslim economies. This conference provides a vital platform to address current economic, financial, and environmental challenges, showcasing our commitment to upholding the broader goals of Shari’ah”.

In conjunction with the conference, AAOIFI is also organizing the 2nd edition of Capacity Building Week, which will commence on 2 November 2024 and continue from 5-8 November 2024. This event is expected to draw over 200 participants from more than 30 countries, who will engage in over 20 concurrent workshops, facilitated by 20 AAOIFI trainers.

For registration and more information about the conference, please click this link: https://bit.ly/3Tx6ojI

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The NHFSO Insurance Policy facilitated a EUR 161.4 million financing arrangement by Deutsche Bank for the Government of the Republic of Côte d’Ivoire, represented by the Ministry of Economy and Finance. This strategic funding is earmarked for the construction of new general and regional hospitals in the cities of Kong and Odienne, significantly boosting the healthcare infrastructure in Côte d’Ivoire.

ICIEC CEO, Mr. Oussama Kaissi, remarked that “the partnership with Deutsche Bank represents a significant advancement in healthcare for Côte d’Ivoire. The strategic financing will facilitate essential infrastructure development and bolster the region’s healthcare resilience, exemplifying ICIEC’s commitment to fostering sustainable development through impactful collaborations”.

This initiative is part of ICIEC’s broader strategy to support vital social infrastructure projects across its member states, promoting sustainable development and enhancing the quality of life for communities through improved healthcare facilities.

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