President of the Islamic Development Bank and President of the IsDB Group, HE Dr. Muhammad Al Jasser, chaired the 10e IsDB Institute board meeting (www.IsDB.org), held virtually on December 14, 2021. The board meeting was the first to be held since Dr Al Jasser took office in August 2021.
In his opening remarks, Dr Al Jasser said that with COVID-19 having a devastating effect on economies around the world, the IDB Group has prioritized supporting its member countries in rebuilding their economies. . He noted that the IsDB Institute has an important responsibility in this regard, given its mandate to be the knowledge beacon of the IsDB Group, a provider of thought leadership and a source of innovative solutions.
âIslamic finance is one of the main differentiators of the IsDB Group among multilateral development banks. As a result, our stakeholders have high expectations of the Group. The role of the Institute is to guide them in the use of Islamic finance systems, instruments and services to bring about a real change in their socio-economic well-being, âsaid the President of the IDB Group.
He further stressed the need for the Institute to be relevant to the whole world, not just to Muslims, especially through the development of Islamic financial instruments, adding: âWe need to spend more time developing Islamic financial instruments that can be used beyond our Member Countries. We want to be relevant to the whole world.
âMy conclusion is that we need to focus on the areas where we have the greatest comparative advantage. We want to spend our scarce resources where we have the greatest added value. We also want to use and maximize the contribution of the Institute’s human resources, âsaid Dr Al Jasser.
The President of the IDB Group then thanked the Board of Directors for being a source of wisdom and guidance for the leadership of the Institute. He also praised the Institute’s contribution to the achievement of its strategic priorities, including improved governance, increased transparency, efficiency and teamwork.
Board members congratulated the Institute on its achievements in 2021 and provided important suggestions for maintaining the focus on key priorities that would help resolve the challenges faced by IDB member countries.
Previously, the Interim Director General of the IsDB Institute, Dr Sami Al Suwailem, thanked the President of the IDB Group, HE Dr. Muhammad Al Jasser and the members of the Board for their support and guidance to the Institute. Dr Al Suwailem, along with the Institute’s leadership team, also briefed the Board on the Institute’s main achievements in 2021 as well as strategic priorities for the future.
The Board of Directors is made up of eminent personalities from various countries working in both the public and private sectors. Council members who attended the 10e meeting are:
- HE Dr. Åakir Ercan GÃ¼l, Deputy Minister of Treasury and Finance of the Republic of Turkey and member of the Board of Directors of the IDB.
- Hon. Hassan Jaafar Abdulrahman, Project coordinator at the Ministry of Finance and Economic Planning, Sudan, and member of the IDB Board of Directors.
- Hon. Khalid Hamad Abdulrahman Hamad, Executive Director, Banking Supervision, Central Bank of Bahrain.
- Hon. Abdulmohsen Al Kharafi, former secretary general of the Kuwait Awqaf Public Foundation.
- Hon. Khaled Bohsali, Executive Director, Department of Foreign Affairs, Central Bank of Lebanon.
- Hon. Mohamed Hammour, Founder and Chairman, Guidance Financial Group.
- Hon. Dr Dadang Muljawan, Director, Department of Islamic Economics and Finance, Central Bank of Indonesia.
- Hon. Dr Shahin A. Shayan, Global Investment and Risk Management Advisor, Los Angeles, USA.
Distributed by APO Group on behalf of the Islamic Development Bank Group (IsDB Group).