21 Jun, 2021
The Islamic Development Bank Institute (IsDBI) has launched the Islamic Finance Capacity Building Program Series for the International Committee of the Red Cross (ICRC), with the aim to assist the ICRC leverage Islamic finance in mobilizing resources for humanitarian activities.
The Islamic Finance Advisory and Technical Assistance (IFATA) Section of IsDBI developed the program, which was launched on 16 June 2021.
The launching ceremony commenced with remarks by IsDBI Acting Director General and IsDB Group Chief Economist, Dr. Sami Al-Suwailem, and ICRC Director General, Mr. Robert Mardini.
In his opening remarks, Dr. Sami Al-Suwailem congratulated the ICRC for its interest in Islamic finance and Islamic social finance in order to deliver ICRC’s mandate of humanitarian and social causes. He highlighted that the ethical and just principles of Islamic finance and social finance system are well-suited for effective delivery of ICRC’s operations, and assured of IsDBI’s support.
On his part, Mr. Robert Mardini appreciated the support provided by IsDBI and expressed the importance ICRC accords to this partnership with the IsDB Group. He reiterated ICRC’s intention to introduce Islamic finance in its resource mobilization efforts particularly to address humanitarian issues in Muslim-majority countries.
The program was developed by the IFATA Section headed by Dr. Gaffar Khalid, Manager of IFATA, and technically led by Mr. Syed Faiq Najeeb, Senior Islamic Finance Specialist. The program series will be delivered in coordination with different IsDB departments including Treasury, Islamic Financial Sector Development, and IsDBI’s Knowledge Solutions Team.
The first program delivered on 16 June comprised two sessions delivered by Mr. Syed Faiq Najeeb, Senior Islamic Finance Specialist, where he covered topics on Islamic finance and Islamic social finance from both the principles and practice perspectives. More than 30 professional staff of the ICRC participated in the sessions.
The remaining three programs will be delivered on 23 and 30 June as well as on 7 July, and will cover different topics including Zakat and Awqaf management, IsDB’s experience with Awqaf Properties Investment Fund (APIF) as well as IsDB Green Sukuk/Sustainability Sukuk.
