By Damilola Abiola
The Islamic Development Bank Institute (IsDBI) reaffirmed its role as a leading driver of Islamic finance innovation and collaboration during a series of high-level bilateral meetings at the 2025 IsDB Group Annual Meetings in Algiers.
Led by Acting Director General Dr. Sami Al-Suwailem, the IsDBI delegation engaged with stakeholders across government, regulatory bodies, financial institutions, and development organisations to advance its agenda of sustainable development, inclusive finance, and innovation in Member Countries.
“These strategic meetings reflect IsDBI’s unwavering commitment to knowledge-based development, financial inclusion, and the use of Islamic finance as a driver of sustainable economic progress across the Member Countries and Muslim communities worldwide,” said Dr. Al-Suwailem.
Forging Global Alliances
Among the key highlights was a meeting with Malaysia’s Securities Commission to explore joint efforts in Sukuk development, Awqaf, and sustainable finance. Discussions with the Islamic Financial Services Board (IFSB) focused on regulatory enhancement and the role of artificial intelligence in Islamic financial infrastructure.
IsDBI also engaged with the Atlantic Group of Côte d’Ivoire, one of Africa’s largest conglomerates, to support the development of internal Shariah-compliant capabilities aligned with its expansion plans.
A session with the Eurasian Development Bank explored introducing Shariah-compliant instruments in Central Asia—an initiative expected to foster financial inclusion and economic diversification.
Driving Social Impact and Capacity Building
The Institute’s strong emphasis on social finance was evident in meetings with the World Zakat and Waqf Forum and Awqaaf South Africa, where the potential of blockchain to improve waqf management was discussed.
Engagements with IFAAS and Senegal’s PROMISE program focused on capacity-building strategies to advance Islamic microfinance and empower underserved communities.
Innovation and Knowledge Sharing at the Forefront
IsDBI and Bank Negara Malaysia exchanged ideas on enhancing digital payments and building capacity across Central Asia. Turkish representatives from the Participation Banks Association and the Islamic Credit Guarantee Fund shared best practices on credit guarantees, digital transformation, and sustainability.
Supporting National Strategies and Policy Development
Senior finance officials from Sierra Leone and the Maldives met with IsDBI to explore national Islamic finance strategies and regulatory frameworks tailored to local needs.
In Algeria and Senegal, talks with national waqf leaders addressed long-term planning, public awareness, and institutional development for Islamic endowments.
Innovation for Development and Growth
A forward-looking session with the Somali Development and Reconstruction Bank examined innovative risk-sharing instruments and digital integration to support agriculture and small businesses.
The delegation, including senior experts in Islamic finance and economics, emphasised the Institute’s strategic direction toward knowledge-driven and partnership-based development.
With engagements spanning Africa, Asia, and Eurasia, the IsDB Institute continues to strengthen its mission of fostering sustainable economic development through Islamic finance, delivering tangible impact across its diverse Member Countries.