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The Operations and Development Effectiveness Committee (ODEC) of the Board of Executive Directors at the Islamic Development Bank reiterates its commitment to support the independent evaluation function of the Operations Evaluation Department (OED) to carry out its mandate. Notwithstanding the ongoing challenges posed by the COVID-19 pandemic, the Islamic Development Bankhasmade signi…cant efforts tomobilize resources in ordertoaccelerate theglobal response to Member Countries by providing much needed urgent health and socio-economic support, as well as working towards post-pandemic recovery and ensuring that we “build back better.”
"As part of its continued commitment to sustainability and SDGs, the Islamic Development Bank has developed a Sustainable Finance Framework to enter the green and sustainability-linked domain. ... The IsDB Group Chairman indicated that despite the challenges posed by the pandemic, a key positive takeaway is the unprecedented acceleration of digital transformation across various sectors.
The IsDB Group comprises the Islamic Development Bank (IsDB), the Islamic Development Bank Institute (formerly known as the Islamic Research & Training Institute, IRTI), the Islamic Corporation for the Development of the Private Sector (ICD), the Islamic Corporation for Insurance of Investment and Export Credit (ICIEC), the International Islamic Trade Finance Corporation (ITFC), and the Islamic Solidarity Fund for Development (ISFD). ... Furthermore, it holds a prominent global leadership role in promoting Islamic finance.
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Launched in 2020, the Smart Economy Grants Program called for projects involving the application of emerging technologies like artificial intelligence and blockchain for business and economy with Islamic finance component. ... Hajjar said: “We are committed to supporting the development of Islamic finance in the age of fintech to successfully transform the enormous untapped potential into tangible benefits in Islamic finance through the empowerment of young innovators and entrepreneurs.”
Relatedly, suppliers will be expected to have full-package capabilities, professionalisation, and digital expertise for end-to-end integration and increasing digitalisation requirements for sourcing, production, and sales in digital platforms. ... The COVID-19 external shock to the textile and apparel industry will accelerate the pace of transformations caused by worldwide megatrends, industry specific trends and the shift to technological innovation.
Bisera Turkovic who is also Minister of Foreign Affairs, focused on exploring a wide array of issues particularly those about digitization in cooperation with IsDB’s Transform Fund, investments, scholarships, and tourism. ... “BBI is now the first bank, both in Bosnia & Herzegovina and in Southeast Europe, which operates in accordance with Islamic finance principles.
Moreover, he asserted that harnessing the transformative potential of infrastructure to bridge the digital divide and connect communities to the global economy tops IsDB Group’s list of sustainable development priorities. ... Over the years, the Bank has evolved from a single entity into a group comprising five entities: Islamic Development Bank (IsDB), the Islamic Development Bank Institute (IsDBI) tasked with research and training, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International Islamic Trade Finance Corporation (ITFC).
H.E. the President said in his remarks, “The investments needed to finance infrastructure and SDG-related projects in member countries exceed the capacity of IsDB and the countries combined. ... The sessions in the IsDB Group 43rd Annual Meeting tackled issues on partnerships for sustainable development to stimulate the development of human capital, innovation and digital transformation.
HLPs HWG IaDB ICD IFA WG IFC IFIs IFSD IMF IOs IsDBG ISEF ITFC Economic Empowerment Approach Engagement Groups European Investment Bank Empowering West African Small and Medium Enterprises program Employment Working Group Food and Agriculture Organization Finance and Central Bank Deputies Financial Inclusion Action Plan Finance in Common Financing Intermediary Fund Finance Ministers and Central Bank Governors Food Security Response Package Framework Working Group G20 Alliance for Empowerment & Progression of Women’s Economic Representation Global Financial Safety Nets Global Infrastructure Hub Government of Indonesia Global Partnership for Financial Inclusion His/Her Excellency High-Level Principles Health Working Group Inter-American Development Bank Islamic Corporation for the Development of the Private Sector (IsDBG Entity) International Financial Architecture Working Group International Finance Corporation International Financial Institutions Islamic Solidarity Fund for Development International Monetary Fund International Organizations Islamic Development Bank Group Indonesian Sharia Economic Festival International Islamic Trade Finance Corporation (IsDBG Entity) A c r o ny m s & A b b r ev iati on s ITU IWG JFHTF KADIN KSA L20 LDCs LICs MAF MCs MDBs MSMEs MTS NDB NGO OECD OTL P20 PPR PWD QII RHJ RIIG S20 SAI20 SAMA SDGs SDR SESRIC SFF SFWG International Telecommunication Union Infrastructure Working Group Joint Finance Health Task Force The Indonesian Chamber of Commerce and Industry Kingdom of Saudi Arabia Labor Engagement Group of the G20 Least-Developed Countries Low-Income Countries Modernized Accountability Framework Member Countries Multilateral Development Banks Micro, Small, and Medium Enterprises Multilateral Trading System New Development Bank Non-governmental Organization Organisation for Economic Cooperation and Development Operations Team Leader Parliament Engagement Group of the G20 Pandemic Prevention, Preparedness, and Response Persons with Disabilities Quality Infrastructure Investment IsDBG’s Regional Hub of Jakarta Research & Innovation Initiative Gathering Science Engagement Group of the G20 Supreme Audit Institutions Engagement Group of the G20 Saudi Monetary Authority (Saudi Central Bank) Sustainable Development Goals Special Drawing Rights Statistical, Economic & Social Research & Training Centre for Islamic Countries Sustainable Finance Framework Sustainable Finance Working Group SHS SIDS SMEs SSTrC STEP STI T20 TIIWG TVET TWG U20 UAE UK UN UNCTAD UNDP UNESCAP VOLIP W20 WBG We-Fi WFP WGs WHO WTO YES Solar Home System Small Island Developing States Small and medium-sized enterprises South-South and Triangular Cooperation Skills, Training & Education for Refugees Program Science, Technology, and Innovation Think Engagement Group of the G20 Trade, Investment & Industry Working Group Technical Vocational Education and Training Tourism Working Group Urban Engagement Group of the G20 United Arab Emirates United Kingdom United Nations UN Conference on Trade and Development United Nations Development Programme UN Economic and Social Commission for Asia and the Pacific Vocational Literacy Program Women Engagement Group of the G20 World Bank Group G20’s Women Entrepreneurs Finance Initiative World Food Programme Working Groups World Health Organization World Trade Organization Youth Employment Support program 05 Message from the President Since its inception half a century ago, IsDB Group has made a commitment to supporting the development efforts of its 57 member countries. ... Through this agenda, Indonesia has proactively led the G20 to focus its work on three crucial and pressing issues: Global Health, Digital Transformation, and Energy Transition.