Baku, Azerbaijan (UNA) – The Islamic Development Bank Institute held a series of bilateral meetings with financial industry leaders from government institutions, multilateral organizations, regulatory bodies, academic institutions and development agencies, on the sidelines of the 2026 Islamic Development Bank Group Annual Meetings held in the Azerbaijani capital, Baku.
These meetings reaffirm the Institute’s commitment to developing Islamic economics and finance in order to stimulate sustainable development, innovation, financial inclusion, and economic transformation within and beyond its member countries.
The meetings addressed a wide range of strategic issues, including the development of the Islamic finance system, regulatory and legislative reforms, capacity building, the development of the sukuk market, Islamic social finance, digital transformation, financial technology, sustainable finance, endowment innovations, and knowledge-sharing partnerships.
The meetings included representatives from the governments of Tajikistan, Libya, Maldives, Turkey, Ethiopia and Sierra Leone, and the discussions focused on strengthening Islamic financial systems through the provision of technical assistance grants, reforming systems and developing institutional capacities.
Furthermore, the Institute's team met with leading international organizations and standard-setting bodies, including the Islamic Financial Services Board, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the Eurasian Development Bank, and the Islamic Microfinance Development Fund. The meetings explored avenues for collaboration in research, standard-setting, capacity building, and strategic initiatives aimed at expanding the reach and impact of Islamic finance globally.
The meetings also discussed areas of innovation and emerging opportunities, including talks with the Rosatom State Corporation on sustainable finance solutions and sukuk structures, with the Islamic Finance Corporation of Australia on digital Islamic banking models, with INSEAF University on Islamic social finance data, cryptocurrency tokenization for endowment management, and collaboration in applied research.
The discussions included establishing new partnerships with organizations from Brazil, Palestine, Somalia, Senegal, Djibouti and the private sector, with the aim of promoting knowledge dissemination, capacity-building programs, integrated Islamic finance solutions, initiatives to digitize cash endowments, and investment-related research.
Commenting on the results of the meetings, the Institute's team, led by Acting Director General Dr. Sami Al-Suwailem, noted that the discussions reflected the growing global interest in employing Islamic economics and finance to address contemporary development challenges and create new opportunities for inclusive and sustainable growth.
The discussions resulted in a series of future initiatives, including technical assistance programs, joint research projects, capacity-building activities, policy-making advisory support, and the creation of collaborative knowledge-sharing platforms.
The annual meetings of the Islamic Development Bank Group provide a promising platform to strengthen existing partnerships, establish new strategic relationships, and support the Institute’s mission to promote innovative, effective, and development-oriented solutions in the field of Islamic economics and finance globally.
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