IRTI Signs MoUs, Discusses with Partners on Smart Solutions and Capacity

17 Apr, 2019

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In pursuit of its mandate of fostering the use of Islamic Finance for development, the Islamic Research and Training Institute (IRTI) has signed memorandums of understanding and held side meetings with strategic partners during the 44th Annual Meeting of the Islamic Development Bank (IsDB) Group in Marrakech, Morocco, from 3-6 April 2019.

IRTI signed two MOUs separately with Agora Venture, Tunisia and with Al-Akhdar Bank, Morocco. The MoU with Agora Venture, signed in the presence of IsDB Governor for Tunisia, H.E. Mr. Zied Laâdhari, will facilitate collaboration in the development of smart projects and designing master plans for IsDB member countries to develop smart economies.

The MoU between IRTI and Al-Akhdar Bank is aimed to provide a platform for cooperation in developing innovative products that will satisfy current and future needs of clients and achieve the objectives of Shari’ah. The MoU covers also the application of fintech and blockchain technologies in Islamic Finance, and delivery of capacity building programs in Islamic Finance.

IRTI also held three separate side meeting with delegations from Badan Pengelola Keuangan Haji (BKPH) Indonesia, Bank Indonesia, and Exim Bank Indonesia.

The meeting with BKPH was held within the framework of a collaboration between IsDB and BKPH Indonesia. It discussed the role of IRTI in building the capacity of BKPH staff with different levels of knowledge of Islamic Finance principles. The two institutions agreed to organize two programs for BKPH staff on Islamic Finance principles to be held in Jeddah later in the year.

During the meeting with Bank Indonesia delegation, discussions focused on potential areas of collaboration including applied research and the development of Awqaf Core Principles.

The meeting with Exim Bank Indonesia provided an opportunity for IRTI to share experiences with the Exim Bank regarding IRTI’s new initiative of developing smart economies in IsDB member countries.

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