Loading...
Loading...
The meeting aimed to discuss and propose a ten-year strategic framework for the IsDB Group, outlining the direction for 2026-2035, along with two consecutive five-year strategies that provide a detailed roadmap for the Bank.
The UAE delegation included Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at MoF, and Hamad Essa Al Zaabi, Director of the Office of Minister of State for Financial Affairs.
The forum was attended by Laaziz Fayed, Minister of Finance of Algeria and Chairman of the IDB Board of Governors; Mohammed bin Abdullah Al Jadaan, Minister of Finance of Saudi Arabia; Dr. Mohammad Sulaiman Al Jasser, Chairman of the Islamic Development Bank Group; along with IsDB Governors, Alternate Governors, Executive Directors, and Directors of IDB Group institutions.
During the Governors' Roundtable, Mohamed bin Hadi Al Hussaini reaffirmed the UAE's commitment to its strategic partnership with the Islamic Development Bank Group, commending the Group’s 50 years of achievements. He emphasised the need for bold and innovative approaches to tackle evolving global challenges and align the Group's planning with shareholder aspirations.
Al Hussaini called for impactful initiatives to support sustainable development, stimulate growth, and enhance resilience in member countries. He highlighted the IsDB Group's role in supporting emerging economies through financing key development areas, promoting renewable energy, and leveraging innovative financial products.
He stressed the importance of preparing for future crises and disasters, urging stronger collaboration with financial institutions to support emerging projects. Al Hussaini also advocated for the adoption of advanced digital technologies to improve operational processes.
Al Hussaini emphasised the importance of launching strategic projects that support low-income Islamic countries, alleviate poverty, and foster collaboration with development banks. He suggested that financing startups and small businesses could help create meaningful job opportunities, particularly for young people.
He also highlighted the importance of fully utilising the IsDB's unique comparative advantages as the only multilateral development institution operating under Islamic Sharia principles. He noted the Bank's strong position, which has contributed to its consistent AAA credit rating since 2006.
Al Hussaini stressed the need for a balance between fulfilling financing commitments to member countries and maintaining the financial stability of the Group. He also emphasised the importance of effective resource mobilisation and strategic distribution to maximise developmental impact.
The forum featured two sessions to deliberate and provide directives on the strategic framework document. A closing session explored future prospects, with the document undergoing thorough review before its final version is submitted for approval at the annual meetings in 2025.
For an optimal experience, please
rotate your device to portrait mode.
