The Islamic Development Bank (IsDB) Institute (https://IsDBInstitute.org/) is pleased to announce the 18th edition of the IsDB Global Forum on Islamic Finance to be held in Riyadh, Kingdom of Saudi Arabia, on 28 April 2024, in conjunction with the IsDB Group Annual Meetings and Golden Jubilee Celebration.

Organized annually as a flagship side event of the Annual Meetings, this year’s Forum will bring together thought leaders, policymakers, financial experts, and other stakeholders in the Islamic finance industry to deliberate on innovative tools to foster sustainable development.

Under the theme “Innovation, Entrepreneurship, and Leadership in Islamic Finance”, the forum will have keynote speeches by H.E. Dr. Muhammad Al Jasser, Chairman of the IsDB Group; H.E. Dr. Stephen Groff, Governor of the Saudi National Development Fund; and Engineer Mutlaq H. Al-Morished, CEO, Tasnee Corporation.

The forum will witness the award presentation to the winner of the 2024 IsDB Prize for Impactful Achievement in Islamic Economics. Professor Mehmet Asutay, a professor of Middle Eastern and Islamic Political Economy&Finance at Durham University, won the prize in recognition of his significant and influential contributions to the field of Islamic economics and finance.

Subsequently, the Forum will have two sessions. The first is a panel that aims to explore the pivotal role of entrepreneurship in advancing sustainable development, particularly within the Islamic finance paradigm. Panelists for the session are Mr. Mohammad Abdulhameed Al-Mubarak, CEO of Madinah Knowledge Economic City; Dr. Zeger Degraeve, Executive Dean of Prince Mohammed Bin Salman College (MBSC); Mr. Morrad Irsane, CEO and Founder of TAKADAO; and Dr. Sami Al-Suwailem, Acting Director General of the IsDB Institute.

The second session will showcase the Smart Stabilization System, a patent-pending algorithm to enhance stability in financial markets, being developed by the IsDB Institute and implemented by the blockchain company SettleMint. The discussants will be Mr. Matthew Van Niekerk, Founder&CEO of SettleMint, and Dr. Hilal Houssain, Associate Manager of Knowledge Solutions Team, IsDBI.

The Forum will also feature the launching of a new IsDBI report titled “Catalyzing Social Entrepreneurship through Islamic Finance”, which explores the potential of Islamic finance to support social entrepreneurship and impact investing.

The IsDB Global Forum on Islamic Finance is an annual high-level forum initiated in 2006 as a platform for strategic policy dialogue on knowledge and innovation in Islamic finance and development.

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

Media contact:
Habeeb Idris Pindiga
Associate Manager, Knowledge Horizons
hpindiga@isdb.org

For more information, visit the 2024 IsDB Group Annual Meetings website (https://IsDM-AM.org/) or IsDBI media platforms:

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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.

Distributed by APO Group on behalf of Royal Thai Embassy, Cairo, Egypt.

Foreign Minister of South Africa Naledi Pandor, in a phone call with her Iranian counterpart Hossein Amirabdollahian who is in  New York, discussed the latest developments in the two country’s bilateral ties and the situation in West Asia, especially following Iran’s legitimate response to the Zionist regime’s recent military attack on the Iranian embassy in Damascus.

 The Iranian foreign minister stated that Iran decided to target the Israeli regime’s two military and intelligence bases involved in the attack on the Iranian Embassy based on the principle of legitimate defense and the inherent right to self-defense.

 He added Iran made the decision only after the UN Security Council failed to give an appropriate response to the raid and did not slam the Israeli regime’s attack, and some permanent members of the UN Security Council, namely the US, UK and France, blocked a move to condemn the Israeli crime by the Security Council.

 Amirabdollahian further said, after the operation Iran announced to the international community, including the US, that Iran was not seeking to spread the conflict but warned in case the Israeli regime once again takes action against Iran, it will respond strongly and firmly.

 Meanwhile, the Iranian foreign minister lauded the South African government for its historic initiative to file a lawsuit with the International Court of Justice (ICJ) against the Zionist regime for committing genocide.

 For her part, the South African foreign minister appreciated her Iranian counterpart for his statements and stressed that an immediate ceasefire should be established in Gaza.

 She further noted that South Africa has put a visit by Iranian President Ebrahim Raisi to her country in 2024 on its political schedule.

Distributed by APO Group on behalf of Ministry of Foreign Affairs – Islamic Republic of Iran.

The ECOWAS Commissioner for Human Development and Social Affairs held a press conference at the Commission’s Headquarters in Abuja on 19 April 2024. Professor Fatou SOW SARR took the opportunity to talk about ECOWAS policies relating to humanitarian issues and youth. She heads a department that steers ECOWAS policy in the areas of science, education and culture, humanitarian affairs, equality and gender, youth and sport.

Each of the components works for the development of the Community through regional policies that take into account sectors such as gender, education, youth and humanitarian aid. With the many challenges facing the region, humanitarian issues remain a priority for the Commission. In the event of natural disasters or security-related challenges, this department intervenes to provide support to Member States and affected populations.

The ECOWAS Commission, through its Directorate of Humanitarian Affairs, provides financial resources to manage issues relating to floods and the migration crisis. Specifically, ECOWAS provided financial assistance to Guinea during the fire at the oil depot and the floods. In 2024, more than $9 million was made available for internally displaced persons, refugees and host communities.

As part of its policy to stabilise the region and fight terrorism, ECOWAS has provided financial support to Nigeria, Niger, Mali and Burkina Faso for the rehabilitation and strengthening of community resilience. To further its peace-building efforts, ECOWAS has set up an Observation, Monitoring and Early Warning Centre based in Abuja, which works to prevent violent extremism in the region. This centre helps to ensure that humanitarian issues are properly addressed in the ECOWAS region.

As far as youth is concerned, the ECOWAS Youth and Sport Development Centre implements the Commission’s policy in areas related to youth, sport and volunteering. Since 2014, 217 volunteers have been sent to Member States including Burkina Faso, Nigeria, Sierra Leone, Liberia and Guinea. This Directorate works to promote the spirit of volunteering in the region and the commitment of the youth to serve the communities.

Beyond its recreational aspects, sport is an original mechanism for promoting regional integration. Aside wrestling, marathon and cycling, the EYSDC provides annual support to sports federations, with loans of 100,000 dollars per federation.

In terms of the socio-economic integration of young people, incubation and vocational training programmes are being implemented by the Commission. Examples include training in refrigeration and mechanical air conditioning and building electrician in Burkina Faso and Mali. As part of the partnership with China, 12 projects by young people in the region have been selected and funded for 2023.

The Education Directorate is actively involved in the academic mobility and professional integration programme for young people within ECOWAS institutions to provide more learning and skills expression platforms for young people in the region. Since 2016, 845 young people have benefited from this policy. Between 2021 and 2022, the programme to integrate young people into private-sector industries has benefited 180 young people.

Since 2019, 42 young people have been sent to Spain for Master’s Degrees in diplomacy and international relations. Between 2018 and 2024, the research and innovation support programme ensured the training of 30 young people in Masters and PHD programmes, with funding of nearly US$700,000.

ECOWAS is also active in the field of culture. Prizes are awarded to artists at film and art festivals. Examples include FESPACO in Burkina Faso and MASA in Côte d’Ivoire.

Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).