Islamic Development Bank Institute (IsDBI)

Potential of AI for Islamic Finance: As the Islamic finance industry evolves to meet the demands of a dynamic global economy, the practical adoption and harmonization of Financial Accounting Standards - particularly across jurisdictions - remains a challenge. At the same time, Artificial Intelligence (AI) is revolutionizing how financial services are designed, delivered, and governed. Recognizing this opportunity, the Islamic Development Bank Institute (IsDBI) launched its first #AI #Hackathon to explore how emerging technologies can strengthen the adoption of Islamic finance standards. The Hackathon focused on developing AI-powered solutions that make these standards easier to implement, more accessible, and globally aligned. Three participating teams have been crowned winners of the Hackathon, namely: -First Place – Khilan Team -Second Place – Al Buraq Team -Third Place – BANKAI Team Read more: https://lnkd.in/dpu9Bza9

Innovation in SMEs: The Islamic Development Bank Institute (IsDBI), led by Acting Director General Dr. Sami Al-Suwailem, met with Mr. Adam Roble, Managing Director of the Somali Development and Reconstruction Bank, on Day 4 of the 2025 IsDB Group Annual Meetings. The two teams discussed instruments to address the needs of the agricultural sector as well as innovative ways to serve Small and Medium Enterprises. #IslamicFinance #Somalia #SMEs #Agriculture #IsDBAM2025 #IsDBI

Enhancing Awareness on Waqf: The Islamic Development Bank Institute (IsDBI) team, led by Acting Director General Dr. Sami Al-Suwailem, met with Dr. Ahmed Lamine Athié, Director General of the Haute Autorité du Waqf (HAW), Senegal, on the sidelines of the 2025 IsDB Group Annual Meetings in Algiers. The meeting focused on the impact of the islamic finance grant projects under implementation as well as on the importance of enhancing public awareness on waqf in Senegal, with particular interest in promoting cash waqf as a viable instrument for social investment. #Waqf #IslamicSocialFinance #Senegal #IsDBI #IsDBAM2025 #CashWaqf #Awareness #TechnicalAssistance

Managing Awqaf Properties: Dr. Sami Al-Suwailem, Acting Director General, Islamic Development Bank Institute (IsDBI), along with his team, held a bilateral meeting with a delegation from the National Office of Awqaf and Zakat, Algeria, led by its General Manager, Dr. Mohamed Abouzain, on the side lines of the 2025 IsDB Group Annual Meetings in Algiers. Discussions centered on the need for collaboration in strategic planning, enhancing awareness, and capacity building in the field of Awqaf properties management. #IslamicFinance #Awqaf #Zakat #Algeria #IsDBI #CapacityBuilding #IsDBAM2025

IsDB President H.E. Dr. Muhammad Al Jasser met with Mr. Fahri Hamzah, Vice Minister of Housing and Settlements of Indonesia, on the sidelines of the #2025IsDBGroupAMs in Algiers. Discussions centered around ongoing cooperation in the social sector-particularly housing. - and reaffirmed the strong partnership between Indonesia and IsDB.

AI Hackathon in Islamic Finance: Congratulations to the winners and all participants of the #AI #Hackathon in Islamic Finance. The first-of-its-kind Hackathon was organized by the Islamic Development Bank Institute (IsDBI) to showcase the potential of AI-powered tools to support the progress of the US$4+ trillion Islamic financial industry. The awards were presented to the winners during the 19th IsDB Global Forum on Islamic Finance, held on 20 May 2025 as part of the IsDB Group Annual Meetings in Algiers. Did you miss the session? You can watch the video here: https://lnkd.in/dV-Y-tsA #2025IsDBGroupAMs #Algeria #Islamicfinance #SDGs #Innovation #AI

Day 3 of #IsDBAM2025 in Algiers, Algeria: The Islamic Development Bank Institute (IsDBI), led by Acting Director General Dr. Sami Al-Suwailem, held a bilateral meeting with H.E. Sheku A. Fantamadi Bangura, Minister of Finance and IsDB Governor for Sierra Leone. The discussion focused on country islamic finance strategy, institutional capacity building and development of a legal and regulatory framework for Islamic banking in Sierra Leone.   #IslamicFinance #SierraLeone #CapacityBuilding #IsDBI #IsDBAM2025 #IslamicBanking #FinancialInclusion #TechnicalAssistance

Day 3 of #IsDBAM2025 in Algiers, Algeria: Dr. Sami Al-Suwailem, Acting Diretor General of Islamic Development Bank Institute (IsDBI), along with his team, held a bilateral meeting with a delegation from the Republic of Maldives, led by H.E. Hassan Miras, Deputy Minister of Finance and Acting Governor of Maldives to the IsDB. Discussions centered on the critical need to establish a comprehensive legal and regulatory framework for Islamic banking, as well as enhancing awareness and capacity building to support the country's Islamic finance ambitions. #IslamicFinance #Maldives #IsDBI #CapacityBuilding #IslamicBanking #IsDBAM2025 #FinancialInclusion #RegulatoryFramework

Day 3 of #IsDBAM2025 in Algiers, Algeria: A team of the Islamic Development Bank Institute (IsDBI), led by Acting Director General Dr. Sami Al-Suwailem, received a delegation from TKBB (Participation Banks Association of Türkiye), led by Ms. Fatma Çınar, Deputy Secretary General, along with Mr. Ömer Karakuş from the Katılım Finans Kefalet (Islamic Credit Guarantee Fund). The delegation from KFK provided an overview of their credit guarantee mechanisms, expressing a strong interest in supporting other IsDB Member Countries in establishing similar structures to enhance access to finance, especially for SMEs. TKBB also shared updates on their ongoing initiatives in digital transformation and sustainability reporting, and conveyed their willingness to collaborate with IsDBI in sharing best practices and expertise with other IsDB Member Countries. #IslamicFinance #CreditGuarantee #SMEs #DigitalTransformation #Sustainability #TKBB #KFK #IsDBI #IsDBAM2025 #ParticipationBanking #KatılımFinans

Day 3 of #IsDBAM2025 in Algiers, Algeria: The Islamic Development Bank Institute (IsDBI), led by Acting Director General Dr. Sami Al-Suwailem, held a bilateral meeting with Ms. Nurul Izza Idris, Director of the Islamic Finance Department at Bank Negara Malaysia. The discussion focused on enhancing cooperation in Islamic finance, particularly in Central Asia, where Malaysia—currently Chair of ASEAN—is keen to contribute its experience. Key areas explored included capacity building for Member Countries, drawing on Malaysia’s institutional expertise, as well as innovative payment mechanisms to facilitate trade. #IslamicFinance #BankNegaraMalaysia #IsDBI #ASEAN #CentralAsia #InnovativePayments #SMEs #Fintech #IsDBAM2025 #CapacityBuilding