Jeddah, February 16, 2025 — Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank (IsDB), held an important meeting today in Jeddah with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), along with her accompanying delegation. The meeting was a key opportunity for both leaders to engage in productive discussions on a range of critical topics, including economic resilience, sustainable development, and global financial stability.
One of the central themes of the discussions was the enhancement of coordination between the IsDB and the IMF to better address the economic priorities of member states. Dr. Al Jasser emphasized the necessity of strengthening cooperation between their institutions in order to develop innovative and effective solutions that can support economic stability in a rapidly changing global environment. Both parties agreed on the importance of working together to provide targeted support to countries, particularly those in post-conflict situations, where the need for economic recovery and reconstruction is paramount.
Dr. Al Jasser also highlighted the importance of developing proactive and adaptive strategies to address the shared challenges facing emerging economies. These challenges include economic fragmentation, demographic shifts, and the ongoing digital transformation that is reshaping markets around the world. Both leaders recognized that collaboration and the sharing of knowledge would be essential in helping countries navigate these complex transitions and unlock their full economic potential.
A key part of the meeting also focused on the Joint Islamic Finance Report 2025, a major collaborative initiative between the IsDB and the IMF. This groundbreaking report aims to assess the current and future role of Islamic finance in the global financial landscape, exploring its potential to drive economic development, promote financial inclusion, and enhance global financial stability. It will also address regulatory challenges faced by the Islamic finance sector, providing recommendations on how to foster its growth while ensuring its alignment with global best practices.
The discussions between Dr. Al Jasser and Ms. Georgieva underscored the critical need for closer collaboration between multilateral financial institutions, particularly in light of the evolving global economic challenges. Their shared commitment to fostering sustainable economic growth and stability, as well as addressing global financial inequalities, sets the stage for greater cooperation in the future.
As both institutions continue to strengthen their partnership, the IsDB and IMF aim to play a pivotal role in promoting long-term economic resilience, supporting inclusive growth, and ensuring financial stability across regions, particularly in developing and emerging markets.