COP28: IsDB President, Michael Bloomberg Explore Collaboration to Support Vulnerable Communities

Dubai, UAE, 1 December 2023 – On the sidelines of the second day of the ongoing COP28 events in Dubai, UAE, Islamic Development  Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser met with CO-founder and CEO of Bloomberg L.P., Mr. Michael Rubens Bloomberg.

The meeting mainly centered on reviewing potential areas of cooperation mainly  Basic Social Services provision to vulnerable and hard-to-reach communities, improving livelihoods and socio-economic development in IsDB Member Countries, and laying the groundwork for transformative future for the fragile countries and communities.

Dr. Al Jasser, at the meeting, highlighted some of the major results  that the IsDB Group has achieved and emphasized the importance of joining hands with Bloomberg L.P. to expand these achievements.    

He also elaborated on how the Bank’s strategic re-orientation has led to a shift from a direct investment model to an asset management model. “As a global investor, IsDB Group targets a diversified exposure across global equity, Sukuk, and global alternative markets, including growth private equity, asset leasing, commodities, and real estate,” H.E. Dr. Al Jasser highlighted.

IsDB Group has active investment portfolios in various funds co-invested with various multilateral development banks and development financial institutions covering various sectors, such as renewable energy, healthcare, infrastructure, and technology, and are spread over different geographies. 

The IsDB Group aspires to attain greater visibility in the world in terms of Islamic finance, its mission and vision and impact at scale in the world.

The meeting also focused on possible cooperation in the framework of IsDB Group’s flagship projects and events including the arrangements for the upcoming golden jubilee celebrations marking the 50th anniversary of the IsDB.