'19th Islamic Development Bank (IsDB) Global Forum on Islamic Finance' in Algiers Explores Digital Transformation and Financial Inclusion
The Islamic Development Bank Institute (IsDBI) (https://IsDBIInstitute.org) successfully concluded the 19th IsDB Global Forum on Islamic Finance, held as part of the IsDB Group Annual Meetings in Algiers. The Forum, themed 'Digital Transformation and Financial Inclusion in Islamic Finance,' convened global thought leaders, policymakers, development experts, and industry stakeholders to explore innovative strategies for advancing sustainable development through Islamic finance.
The opening session featured keynote speeches by prominent figures, including H.E. Dr. Muhammad Al Jasser, Chairman of the IsDB Group; H.E. Salah Eddine Taleb, Governor of the Bank of Algeria; and H.E. Mr. Nikolai Podguzov, Chairman of Eurasian Development Bank (EDB). Discussions centered on the transformative potential of fintech and Shariah-compliant financial tools in driving financial inclusion and sustainable growth.
H.E. Dr. Muhammad Al Jasser emphasized that the integration of Islamic finance into the digital economy holds tremendous promises and can open new horizons to financial inclusion. 'To realize this potential, we must build the foundations: secure and reliable digital infrastructure, responsive governance frameworks, and institutions prepared to regulate with wisdom and foresight,' he stated.
H.E. Mr. Nikolai Podguzov, Chairman of the Eurasian Development Bank (EDB), said: 'Central Asia is on the path of economic growth and inclusivity, where digital Islamic finance will play a key role. By leveraging technology, we can empower rural entrepreneurs, expand trade ties, and attract ethical investments. We are excited to share our views and goals for Central Asia at this forum and we will gladly continue developing our region together with our partners at the Islamic Development Bank.'
The Forum also featured two major announcements: The 'Medikids Project' as the first-place winner of the 2025 IsDB Prize for Impactful Achievement in Islamic Economics, and the winners of the 'AI Hackathon in Islamic Finance,' showcasing the potential of AI-powered tools to propel the US$4+ trillion Islamic financial industry. H.E. Dr. Noureddine Ouadah, Minister of Knowledge Economy, Startups and Micro Enterprises, Algeria, delivered remarks about the AI Hackathon.
A key report, The Future of Islamic Finance in Central Asia, was launched during the event, marking a joint initiative between IsDBI and EDB. Additionally, several landmark publications were announced for release after the Forum.
The Forum included two panel discussions:
The first panel explored the integration of digital Islamic finance with postal services to enhance financial inclusion. Moderated by Dr. Hilal Houssain of IsDBI, the panel featured Dr. Sami Al-Suwailem, Acting Director General, IsDBI; Dr. Mohammad Farrukh Raza, Group CEO of Islamic Finance Advisory&Assurance Services; and Dr. Ali Mohamed Bourouiba, Head of Innovation&Products Development at Al Salam Bank.
The second session, titled 'Unleashing the Potential of Sukuk for Financing Sustainable Development,' examined the integration of Islamic finance principles into existing sustainable finance frameworks. Moderated by Mohammed Dawood, Head of Islamic finance, MENAT, HSBC, the panel featured Sheikh Prof. Dr. Mohamed Ali Elgari, Chairman of the IsDB Group Shariah Board; H.E. Dr. Zamir Iqbal, Vice President (Finance) and CFO, IsDB; Mrs. Sharifatul Hanizah Said Ali, Executive Director of the Securities Commission Malaysia; and Dr. Ghiath Shabsigh, Secretary General of the Islamic Financial Services Board.
This year's IsDB Global Forum on Islamic Finance was jointly organized by IsDB Institute, Kuala Lumpur Center of Excellence, Resilience and Climate Action Department, and Treasury Department.
Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).
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