15 Dec, 2022
The Board of Trustees of the Islamic Development Bank Institute (IsDBI) held its 11th Meeting on 12 December 2022, at the IsDB Headquarters in Jeddah.
The Board, chaired by IsDB Group Chairman, H.E. Dr. Muhammad Al Jasser, discussed the Institute’s medium-term work program for 2023-25, aimed at maximizing impact by prioritizing areas where the Institute has a comparative advantage.
The 11th Board of Trustees meeting was the first to be held in person since 2019, with the last two meetings in 2020 and 2021 held virtually due to the COVID-19 pandemic.
In his opening remarks, H.E. Dr. Al Jasser first welcomed the new Trustees, inviting them to guide the deliberations of the Board with their experience and wisdom.
He then observed that as the effects of the pandemic linger, IsDB member countries continue to face new challenges, including geopolitical conflicts and climate crises, that hinder their socio-economic progress. In response, the IsDB Group has been implementing major initiatives to support member countries achieve sustainable economic recovery. In particular, IsDB has adopted a strategy focused on three objectives: (i) boosting recovery; (ii) tackling poverty and building resilience; and (iii) driving green economic growth.
“The IsDB Institute, as the knowledge beacon of the IsDB Group, has a critical role to play in providing the soft-skills knowledge as prerequisites to achieving the Bank’s strategic objectives over the next three years. The Institute’s role is paramount in providing evidence-based decision-making and in unleashing the potential of Islamic finance as an efficient tool to achieve economic and social development,” Dr. Al Jasser stated.
The Board members thanked H.E. the Chairman for the opportunity given to them to serve on the new board. They also noted that the Institute’s medium-term work program sufficiently focused on key priorities that would help in confronting the challenges of the member countries.
In his remarks, Dr. Sami Al-Suwailem, Acting Director General of IsDBI and IsDB Group Chief Economist, thanked H.E. Dr. Al Jasser and the Board members for providing inspirational leadership to the Institute.
In a brief on the Institute’s medium-term work program, Dr. Al-Suwailem explained that the focus is on priority projects based on added value and sustainability; quality over quantity; strategic initiatives; and leveraging partnerships to maximize impact. He added that the Institute would look forward to having active engagement with the Board members in implementing its initiatives.
The newly reconstituted Board of Trustees comprises eminent personalities from various professional backgrounds in both the public and private sectors, namely:
IsDB Executive Director, and Assistant Undersecretary for Financial Accounting Affairs, Ministry of Finance, Kuwait
IsDB Executive Director, and Secretary of the Ministry of Economic Affairs, Pakistan
IsDB Executive Director, and Technical Adviser in the Ministry of Economy, Planning, and Cooperation, Senegal
Executive Director of Banking Supervision, Central Bank of Bahrain
Senior Advisor, Arab Fund for Economic and Social Development (AFESD)
Chairman, Indonesia’s New Capital City Authority
Chairman & Managing Director, Guidance Financial Group, Riyadh, KSA
Director, Oxford Poverty and Human Development Initiative (OPHI), UK
Founder and Chief Futurist & Disruptor at Abnewnormal.ai Venture Studio