47th Annual Meeting IsDB Board of Governors Wraps up Work

Sharm El Sheikh, 4 June 2022 – The 47th Annual Meeting of the Board of Governors of the AAA-rated biggest South-South Multilateral Development Bank (MDB) was held from 2-4 June in the framework of the 2022 Annual Meetings of the IsDB Group in the iconic city of Sharm El Sheikh under the patronage of the Hon. President of the Arab Republic of Egypt, His Excellency President Abdel Fattah El-Sisi, under the theme: “Beyond Recovery: Resilience and Sustainability”.

The agenda adopted by the meeting comprised several entries including a review of the 47th Annual Report of the Bank, as well as the election of the Chairman of the board and two Vice-Chairmen for the Board of Governors for the year 2023.

Furthermore, the members of the IsDB Board of Governors adopted and approved the IsDB Strategic Realignment for the period 2023-2025. 

They also discussed the allocation of part of IsDB’s net income to granting technical assistance (TA) operations as well as scholarship programs for 2023-2025, in addition to the appointment of the external auditors for several IsDB funds including the Waqf Fund, the Awqaf Properties Investment Fund (APIF), the World Waqf Foundation, IsDB Fund for Science and Technology for the Financial Year 2023 and the Economic Empowerment Fund for the Palestinian People for the Financial Years 2022 and 2023.

It is worth noting that the Arab Republic of Egypt, hosted the Annual Meeting of the Board of Governors of the Islamic Development Bank (IsDB) for the second time in the past 3 decades.

The 48th Annual Meeting of the IsDB Board of Directors shall be held in the port city of Jeddah, in the Kingdom of Saudi Arabia, in 2023.