IsDB’s 50th: Group hosts forum to convene global business community 

The private sector institutions of the Islamic Development Bank (IsDB) group organized a forum to enable the global business community to connect and explore investment and trade opportunities offered by its 57 member countries.

The 12th edition of the ‘Private Sector Forum – 2024’, is being held on April 28-30 on the sidelines of the group’s 50th anniversary. 

The forum showcased IsDB group’s activities, projects, services, and initiatives across member countries, highlighting its role in promoting public private partnership (PPP) projects and its services to the private sector, a statement said. 

It also aimed to facilitate business to business (B2B) and business to government (B2G) meetings, enabling business communities across member countries to establish connections. 

Dr. Muhammad Sulaiman Al Jasser, IsDB Group chairman said that it is the responsibility of the public sector to develop infrastructure and legislation to foster an attractive business climate for the private sector to stimulate production and create jobs. 

"The private sector forum has served as a crucial platform for ICIEC to explore innovative strategies that merge trade, insurance, and investment sectors,” Oussama Kaissi, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) said. ICIEC is a member of the IsDB group. 

“With over $108 billion in cumulative trade and investment insurance, focusing on key sectors such as energy, manufacturing, infrastructure, healthcare, and agriculture, we have been able to identify challenges and opportunities that align with Vision 2030, fostering essential partnerships.” 

Meanwhile, Hani Salem Sonbol, acting CEO of The Islamic Corporation for the Development of the Private Sector (ICD), and CEO of the International Islamic Trade Finance Corporation (ITFC), emphasized the importance of the private sector as a vital driver of economic growth, job creation, and poverty alleviation in member countries. 

Both ICD and ITFC are IsDB group members.