The Islamic Development Bank Institute (IsDBI) and the General Council for Islamic Banks and Financial Institutions (CIBAFI) have signed a Grant Agreement for collaboration on advancing sustainable development through Islamic finance.
It was shared that the project will evaluate the economic progress of five select member countries of the Organization of Islamic Cooperation (OIC) in specific areas that are key in both Islamic finance and sustainable development.
Key areas of exploration include:
- Climate change mitigation,
- Women and youth empowerment initiatives,
- Digitalisation advancements, and
- Fostering financial inclusion.
The project will deliver comprehensive reports offering recommendations based on these countries’ experiences, serving as a roadmap for other OIC member countries.
It was shared that the project aims to raise global awareness about the role of Islamic finance in overcoming critical challenges and building resilient economies.