The Islamic Development Bank (IsDB) Group and the Islamic Financial Services Board (IFSB) have formalised a Strategic Collaboration Framework (SCF) to advance the development, stability, inclusion, and growth of the global Islamic Financial Services Industry (IFSI).ย
The agreement was signed by Dr. Rami Ahmad, IsDB Vice President of Operations, and Dr. Ghiath Shabsigh, Secretary-General of the IFSB, in the presence of H.E. Dr. Muhammad Al Jasser, Chairman of the IsDB Group, who witnessed the signing ceremony on the sidelines of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group. The SCF seeks to leverage both organisations’ unique strengths, expertise, and resources to advance the objectives of financial inclusion, sustainable economic growth, and the promotion of safe and sound IFSI.ย
The SCF aims to strengthen institutional and strategic coordination between the two institutions to ensure standard-setting and implementation, technical advice, and development financing mutually reinforce each other across member countries. It sets out a multi-year work programme to strengthen institutional capacities and Islamic finance frameworks by providing capacity building and technical assistance to member countries, to enhance research on emerging risks and opportunities in Islamic finance, and to disseminate best practices.
Dr Rami Ahmad, IsDB Vice President of Operations said, โSupporting the global regulatory architecture of Islamic finance is a priority for the IsDB Group. This Framework takes our relationship with the IFSB to the next level, ensuring that the financing we provide is matched by capable institutions in our member countries.”
Dr Ghiath Shabsigh, Secretary-General of the IFSB, added, โStandards only make a real difference when countries have the capacity and institutional strength to apply them. With its extensive reach and five decades of leadership in development finance, the IsDB is uniquely placed to help turn sound regulation into stronger and more resilient financial systems. We are grateful for its generous commitment and look forward to deepening our partnership.”
