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Islamic Development Bank Institute Fosters Islamic Finance Collaboration during 2024 Group Annual Meetings

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The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) played an important role in supporting Islamic finance during the 2024 IsDB Group Annual Meetings and Golden Jubilee Celebration in Riyadh, Kingdom of Saudi Arabia. From April 27-30, IsDBI hosted 20 bilateral meetings with a diverse range of partners. This strong engagement underscores the growing interest in Islamic finance across the IsDB member countries.

Led by Dr. Sami Al-Suwailem, Acting Director General of IsDBI, the meetings explored a broad spectrum of collaboration opportunities. Discussions focused on capacity building, legal and regulatory framework development, product structuring, and support for financial inclusion, sustainable finance, and economic development.

Additionally, innovative ideas were explored for technology adoption – including solutions for achieving Sustainable Development Goals (SDGs), building smart economic cities, fostering climate and green finance action, and driving human capital development. Notably, the discussions addressed the growth and development of the social finance and non-profit sectors.

Bilateral partners included member country delegations led by IsDB Governors, senior representatives from Ministries, Central Banks, UN Agencies, International Organizations, Multilateral Development Organizations, and other Financial Institutions.

The meetings yielded concrete action plans for 2024 and beyond. These plans leverage the unique strengths of each partner organization. Key areas for collaboration include promoting skills development, strengthening the legal and regulatory ecosystem, developing social safety nets, mainstreaming Islamic finance within the global financial architecture, and accelerating the achievement of SDGs. Several discussions highlighted the potential of innovative solutions involving artificial intelligence, blockchain, and other digital technologies.

The 2024 IsDB Annual Meetings concluded with a positive outlook for the IsDB Institute. The bilateral meetings enabled in-depth discussions with stakeholders and plans for Islamic economics and finance to play a vital role in supporting the sustainable development of the IsDB member countries and Muslim communities worldwide.

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

Media contact:
Habeeb Idris Pindiga
Associate Manager, Knowledge Horizons
Islamic Development Bank Institute (IsDBI)
Email: hpindiga@isdb.org

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About the Islamic Development Bank Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org

Ethiopia, Kenya dominate Madrid marathon

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Tens of thousands of runners took part in the Madrid Marathon on Sunday (Apr. 28).

Kenyan and Ethiopian athletes were the ones who shone in both the men’s and women’s races.

Ethiopia’s started chasing a win not long after the start of the 42-kilometre course — extending his lead consistently.

However, he faltered in the last 7 kilometres — suffering from heat stroke and hamstring strain in his left thigh. Putting in a final effort, he won the second race of his career.

Mitku Tafa was closely followed by fellow Ethiopian Fikre Bekele, and Kenyan runner, Douglas Chebii, who came in third.

Tafa won the race in 2 hours – 8 minutes — and 58 seconds.

The 2023 Nairobi City Marathon champion Naom Jebet secured her first international marathon win in Madrid in the women’s race.

The runner was in the solo lead on the final stretch of her win as well, finishing with a time of two hours, 26 minutes and 20 seconds – 44 seconds faster than Ethiopia’s Bontu Bekele who finished second.

Fellow Ethiopian Kebene Chala finished in third place.

South African boxer Dingaan Thobela, ‘The Rose of Soweto,’ dies aged 57

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South Africans and boxing fans are remembering Dingaan Thobela, a boxing legend who passed away at 57.

Thobela, known as “The Rose of Soweto” where he grew up, died in his Johannesburg apartment after battling an undisclosed illness. He was found by family members who couldn’t reach him on the phone.

Thobela had a stellar career, competing from 1990 to 2006 and winning three world titles in two weight divisions. With 40 wins out of 56 fights, including 26 knockouts, he left a lasting mark on the sport.

Tributes poured in for Thobela, with many recalling his incredible speed, skill, and power in the ring. Advocate Ike Thamsanqa Khumalo reminisced about the memorable moments Thobela gave fans, describing some as comedic.

Paris 2024 Olympics: South Sudanese refugee suspended for doping

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A third runner on the Refugee Olympic team has been suspended for a positive doping test, with the announcement coming two days before the IOC confirms its selection of athletes for the Paris Games.

Anjelina Nadai Lohalith was informed of her alleged use of banned heart medication, trimetazidine, and was provisionally suspended, the athletics integrity unit said. She did not give a timetable for disciplinary proceedings.

Lohalith, who fled war in South Sudan as a child and took refuge in a refugee camp in Kenya, was on a scholarship from the International Olympic Committee to prepare for her third consecutive Summer Games.

The 31-year-old ran the 1,500m for the Refugee team at the last two Summer Games, first competing in 2016 in Rio de Janeiro and at the 2021 Tokyo Olympics.

The IOC and UNHCR, the United Nations refugee agency, have planned a media event on Thursday to finalize the selection of the refugee team for the Paris Olympic Games which will be held from July 26 to August 11.

Lohalith represented the Refugee Team at three World Athletics Championships and was one of 29 members of the Refugee Olympic Team in Tokyo.

The UNHCR said 75 athletes in 14 sports received scholarships to Paris. These athletes come from 12 different countries and now live in 24 host countries.

A scholarship athlete from Morocco , 3,000m steeplechase runner Fouad Idbafdil , was banned for three years in December after testing positive for the endurance hormone EPO.

In March, another 1,500m runner from South Sudan, Dominic Lokolong Atiol , was also provisionally suspended for testing positive for trimetazidine.

The drug, known as TMZ, was also found in high-profile positive tests in 2021 by Russian figure skater Kamila Valieva and 23 Chinese swimmers who were preparing for the Tokyo Olympics.

Valieva’s case came to light during the 2022 Winter Games in Beijing, where she helped the Russians win the team gold medal. Valieva was subsequently disqualified, suspended for four years, and the Russians were demoted to bronze swimmers, while the United States were promoted to gold swimmers. The case is ongoing and further appeals are pending.

The Chinese swimming affair was described in detail on April 20 in investigative reports from the New York Times and German broadcaster ARD.

The swimmers were not suspended, and three of them won gold medals in Tokyo, because the World Anti-Doping Agency accepted the explanations and evidence provided by Chinese authorities that the athletes had been contaminated with traces of the drug in a hotel kitchen.