IsDB Institute Strengthens Islamic Finance Ties at 2025 Annual Meetings in Algiers

The Islamic Development Bank Institute (IsDBI) demonstrated its continued leadership and strategic vision in the global Islamic finance landscape during the 2025 IsDB Group Annual Meetings, held in Algiers, Algeria. A series of high-level bilateral meetings with key stakeholders highlighted the Institute’s deep commitment to sustainable economic development, regulatory innovation, and social finance across its Member Countries.

Led by Dr. Sami Al-Suwailem, Acting Director General of IsDBI, the delegation included senior officials such as Mr. Mohammad Khalid Jawahir, Senior Islamic Finance Specialist; Dr. Hylmun Izhar, Senior Research Economist; and Dr. Wejdan Kenali, Senior Editor. Their agenda was centered on expanding global partnerships, enhancing capacity-building efforts, and championing knowledge-driven solutions within Islamic finance.

Building Global Alliances in Islamic Finance

The meetings underscored the Institute’s multi-continental strategy to foster cooperation across Asia, Africa, and Central Asia.

A notable engagement was held with the Securities Commission Malaysia, where Mrs. Sharifatul Hanizah, Executive Director for the Islamic Capital Market, and Mr. Hamzil Mohamadan, Head of Strategic Affairs, explored joint initiatives in Sukuk structuring, Awqaf revitalization, and sustainable investment solutions—areas where Malaysia has set global benchmarks.

The IsDBI team also met with the Islamic Financial Services Board (IFSB), represented by Dr. Ghiath Shabsigh and Dr. Abdullah Haron, to explore the intersection of Islamic financial regulation and artificial intelligence (AI). These discussions focused on how smart technologies can enhance compliance, transparency, and operational efficiency in Shariah-compliant financial systems.

In West Africa, the IsDBI dialogued with the Atlantic Group, a leading pan-African conglomerate headed by Mr. Léon Konan Koffi, to discuss integrating internal Shariah-compliant finance capabilities into the Group’s operational model. The objective is to help the Group expand responsibly into new markets while adhering to Islamic financial ethics.

Similarly, a forward-looking session with the Eurasian Development Bank and its Deputy Chairman Mr. Ruslan Dalenov discussed the introduction of Islamic financial instruments in Central Asia, including Shariah-compliant microfinance, to support inclusive economic development in the region.

Social Finance, Technology, and Inclusion

Islamic social finance featured prominently in the Institute’s discussions. A meeting with Mr. Zeinoul Abedien Cajee, Deputy Secretary General of the World Zakat and Waqf Forum and CEO of Awqaaf South Africa, focused on utilizing blockchain and digital tools to strengthen waqf (endowment) governance and unlock new avenues for resource mobilization.

The delegation also engaged Mr. Abdou Karim Diaw, National Coordinator of Senegal’s PROMISE program, to strategize on scaling Islamic microfinance models that reach underserved communities, particularly women and smallholder farmers. These efforts aim to embed Islamic finance in national poverty reduction frameworks.

With IFAAS (Islamic Finance Advisory & Assurance Services) CEO Mr. Farrukh Raza, IsDBI explored joint capacity-building initiatives to upskill Islamic finance professionals, regulators, and institutions across Member Countries.

Promoting Innovation and Knowledge Exchange

IsDBI’s strategy includes nurturing innovation across borders. A meeting with Bank Negara Malaysia, led by Ms. Nurul Izza Idris, focused on digital payment solutions, fintech applications, and regional cooperation with Central Asia. Malaysia, being a pioneer in Islamic fintech, offered valuable insight into scalable and inclusive Islamic finance models.

In Türkiye, discussions with the Participation Banks Association (TKBB), represented by Ms. Fatma Çınar and Mr. Ömer Karakuş, revolved around digital transformation in banking, credit guarantee systems, and sustainability reporting. Türkiye’s experience in institutionalizing Islamic finance was cited as a replicable model for other IsDB Member Countries.

Enhancing National Strategies and Regulations

IsDBI’s consultations with government leaders reflected a deep commitment to strengthening national Islamic finance ecosystems:

• In Sierra Leone, discussions with Minister of Finance H.E. Sheku A. Fantamadi Bangura focused on developing a national Islamic finance strategy, supporting financial inclusion and regulatory capacity building.

• In the Maldives, Deputy Minister of Finance H.E. Hassan Miras explored building a roadmap to integrate Islamic finance into the national economy, especially in sectors like tourism and fisheries.

• In Algeria, a session with Dr. Mohamed Abouzain, General Manager of the National Office of Awqaf and Zakat, centered on strengthening waqf governance and public outreach.

• Similarly, Dr. Ahmed Lamine Athié of Senegal’s Haute Autorité du Waqf (HAW) discussed long-term strategic planning to scale waqf-based social and infrastructure projects.

Supporting SME Growth and Economic Resilience

The Institute also held a session with Mr. Adam Roble, Managing Director of the Somali Development and Reconstruction Bank, exploring innovative Islamic finance tools such as risk-sharing models, agriculture finance, and e-commerce integration to support SMEs in fragile states. These tools are critical for restoring livelihoods, improving food security, and stabilizing post-conflict regions.

“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. Sami Al-Suwailem, Acting Director General of IsDBI.

Looking Forward

With its robust presence at the 2025 Annual Meetings, the Islamic Development Bank Institute has once again proven itself as a thought leader and strategic partner in the global Islamic finance architecture. Through technical cooperation, research, regulatory advisory, and innovation, the Institute is shaping the next decade of ethical finance for inclusive and resilient development.

As Dr. Al-Suwailem reaffirmed, IsDBI remains dedicated to building strong partnerships, enhancing local capacities, and scaling impact-driven solutions that align with Islamic values and serve the long-term interests of its diverse Member Countries.