IsDB Institute Strengthens Cooperation with Eurasian Development Bank

IsDB Institute Strengthens Cooperation with Eurasian Development Bank

18 Jul, 2024

The Islamic Development Bank Institute (IsDBI) and Eurasian Development Bank (EDB) signed a Memorandum of Understanding (MoU) to strengthen cooperation in developing Islamic finance in Central Asia.

Chairman of the EDB Management Board, Mr. Nikolai Podguzov, and Acting Director General of IsDB Institute, Dr. Sami Al-Suwailem, signed the memorandum during the EDB Annual Meetings in Almaty, Kazakhstan on 28 June 2024.

The MoU formalizes and deepens the existing collaboration between the IsDB Institute and the EDB. The IsDB Institute has been assisting in setting up EDB's Islamic finance window and developing a joint report on Islamic finance in Central Asia.

Speaking after at the signing ceremony, Dr. Sami Al-Suwailem welcomed the formalization of cooperation between the two institutions. He said both organizations share a common mandate for the socioeconomic development of their member countries and regions.

Dr. Al-Suwailem noted that the MoU will facilitate a long lasting and impactful collaboration for the benefit of stakeholders.