Putrajaya, Malaysia, 25^th March 25^th 2021 - Malaysia’s Minister of Finance and Islamic Development Bank (IsDB) Governor, H.E. Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz, and IsDB President, Dr. Bandar Hajjar, have formally signed a Memorandum Of Understanding and Supplementary Agreement between the Government of Malaysia and IsDB on the transformation of the IsDB Regional Hub of Kuala Lumpur into a Center of Excellence (CoE) mandated to promote cooperation on Islamic finance, Halal initiatives, Science, Technology, and Innovation (STI) eco-systems, reverse linkages for capacity sharing and resource mobilization.

In his Keynote statement on this occasion, the Minister praised the excellent relationship between Malaysia and the Islamic Development Bank which has been established since March 1975, and since then both parties have enjoyed a mutually beneficial partnership, wherein Malaysia leverages IsDB’s network, to promote the skills and expertise of the country for the benefit of other Member Countries of IsDB. The cooperation is further strengthened through the establishment of the IsDB Regional Hub in Kuala Lumpur in 1994 and, today, through the signing of the MoU transforming the Hub into a Center of Excellence.

Dr. Hajjar, meanwhile, expressed gratitude to the Government of Malaysia as well as to the Malaysian public and private stakeholders, for their commitment and willingness to share their knowledge and expertise with other IsDB Member Countries, and reiterated the commitment of the IsDB Group to strengthen the already excellent relationship with the Government of Malaysia, particularly through transforming the IsDB Regional Hub in Kuala Lumpur into a Center of Excellence,  which serves as a gateway between Malaysia and other IsDB Member Countries facilitating exchange of comprehensive development solutions including know-how, technology, tools, and investment in five areas of high economic impact namely, STI, Islamic Finance, Halal Industry, Reverse Linkage for Capacity sharing,  and Resource Mobilization on the basis of win-win approaches.

The ceremony also witnessed the launching and going-live of a digital platform called E-gateway platform bringing together all the stakeholders comprising solution providers, solution seekers, investors and investees in one community, using the power and the benefits of IsDB ENGAGE platform.

The signing ceremony was followed by a webinar on the ‘Role of Locally Developed Innovation and Technology Transfer in Strengthening Health Industry in IsDB Member Countries’ which included keynote statements from H.E. Khairy Jamaluddin, Minister of Science, Technology and Innovation, H.E. Adham bin Baba Minister of Health and a panel discussion moderated by Mr. Alan Donnelly, Executive Chairman Sovereign Sustainability and Development and Convener of the G20 Health and Development Partnership  with the participation of Her Excellency Tan Sri Dr. Jemilah Mahmood, Special Advisor to the Prime Minister on Public Health, Dr. Sergio Carmona, Acting Chief Executive Officer and Chief Medical Officer, Foundation for Innovative New Diagnostics (FIND) and Mr. Leonard Ariff Abdul Shatar, Group Managing Director, Duopharma Biotech Berhad.