Jeddah, November 3, 2023, A delegation from the Islamic Development Bank Institute (IsDBI) engaged in productive meetings with four key public financial institutions in Jakarta, Indonesia, with the objective of bolstering their collaborative efforts across various domains. These discussions predominantly revolved around the Islamic financial landscape and the utilization of Islamic instruments for development financing.
The meeting participants delved into the vital role of Sukuk (Islamic bonds) in fostering development within the IsDB member countries. This role is underpinned by three primary components: the Sukuk Enhancement Fund (SEF), the Sovereign Finance Corporation (SFC), and the Cash Waqf Linked Sukuk (CWLS).
Dr. Sami Al-Suwailem, acting Director General of IsDBI, reiterated the institute's unwavering commitment to partnering with Islamic financial institutions in Indonesia to enhance their resource mobilization capabilities. Additionally, this collaboration aims to provide crucial support to local governments, offering them technical expertise and knowledge in the realm of Islamic finance and Sharia-compliant financing instruments.
