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Islamic Development Bank Institute (IsDBI) and Prince Mohammed Bin Salman College of Business and Entrepreneurship (MBSC) Celebrate Graduation of First Cohort of Entrepreneurial Mindset...
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The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) and Prince Mohammed Bin Salman College of Business and Entrepreneurship (MBSC) celebrated the graduation of the first cohort of the Entrepreneurial Mindset Development Program, a flagship joint initiative designed to nurture entrepreneurial leaders across IsDB Member Countries.
The ceremony took place on 11 December 2025 at the IsDB Headquarters in Jeddah, under the auspices of H.E. Dr. Muhammad Al Jasser, President of the IsDB. It brought together senior officials, faculty members, program sponsors, distinguished guests, and IsDB Group staff.
Twenty-nine entrepreneurs from 20 IsDB Member Countries successfully completed the program, which included online learning modules as well as rigorous in-person training delivered by MBSC faculty and IsDBI experts.
Eng. Adeeb Al-Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), represented the IsDB President during the ceremony. In his speech, Eng. Al-Aama commended the participants for their dedication and highlighted the strategic importance of supporting young entrepreneurs in driving sustainable development, job creation, and innovation.
The Entrepreneurial Mindset Development Program was implemented with sponsorship from three IsDB Group entities, namely the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), Islamic Corporation for the Development of the Private Sector (ICD), and ITFC.
In a speech on behalf of the sponsors, Dr. Khalid Khalafalla, CEO of ICIEC and Acting CEO of ICD, noted that the sponsorship by the three entities reflects their shared commitment to supporting entrepreneurship as a driver of private-sector growth and social impact.
Earlier, in his welcome address, Dr. Sami Al-Suwailem, Acting Director General of the IsDB Institute, emphasized the Institute's long-term vision of nurturing entrepreneurial capabilities as a catalyst for development and economic resilience across Member Countries. He noted that the strong partnership between the IsDB Institute and MBSC stands as a model of effective collaboration, combining academic excellence with development impact to serve the needs of Member Countries.
Dr. Zeger Degraeve, Executive Dean of MBSC, commended the graduates for their high engagement, intellectual curiosity, and determination. He reaffirmed MBSC's commitment to equipping emerging leaders with world-class entrepreneurial capabilities rooted in rigorous academic standards and practical skills.
The ceremony also featured remarks from Graduate Representatives, Ms. Ahd Abu Alrob and Mr. Nurgozha Kaliaskarov, who shared their reflections on the program's potential transformative impact and highlighted the diversity and collective strength of the cohort.
The event concluded with a Faculty Perspective delivered by Dr. Muhammad Azam Roomi, Program Director and Professor at MBSC, who praised the participants' resilience and entrepreneurial mindset. He emphasized that the program's success reflects not only the curriculum but also the collaborative spirit between MBSC, IsDBI, and the IsDB Group entities.
Throughout the program, participants received advanced training in entrepreneurial strategy, innovation, leadership, negotiation, business modeling, and financial management. They also benefited from mentorship, team-based exercises, and practical assignments designed to strengthen real-world decision-making and problem-solving skills.
The graduation ceremony also highlighted the formation by the cohort of a joint entrepreneurial alliance, initiated by the participants, to foster long-term collaboration, knowledge sharing, and partnerships. Additionally, participants will apply their expertise in social impact measurement to evaluate the program's effect on entrepreneurial ventures across Member Countries.
The IsDB Institute and MBSC reaffirmed their commitment to strengthen their strategic partnership and expand future cohorts of the Entrepreneurial Mindset Development Program, thereby advancing their joint mission to empower entrepreneurs and foster innovation-led, sustainable development.
Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).Social media handles:
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About the IsDB Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org/
The Islamic Development Bank Institute (IsDBI) and Arab Monetary Fund (AMF) Deliver Training on Using Artificial Intelligence to Foster the Islamic Financial Industry
The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) and the Arab Monetary Fund (AMF) jointly organized a specialized training program titled “The Role of Artificial Intelligence in Fostering the Islamic Financial Industry.” The program took place from 24–28 November 2025, at the AMF headquarters in Abu Dhabi, United Arab Emirates.
This initiative is part of a strategic collaboration between the two institutions, aimed at strengthening the stability and advancement of the Islamic finance industry across their 22 shared member countries.
The program was the first of its kind in the region to integrate artificial intelligence and Islamic finance in a comprehensive manner. The objective was to build the capacity of specialists by deepening their understanding of both the theoretical foundations and practical applications of AI. This is expected to enhance efficiency and innovation within the Islamic financial landscape, while upholding Shari'ah principles and governance requirements.
A total of 32 professionals from central banks and financial institutions across Arab countries participated in the program. The sessions were delivered by professional trainers from IsDBI, Dr. Hilal Houssain and Dr. Mohammed Ayyash.
The agenda covered a range of topics, including the concepts of artificial intelligence, machine learning, neural networks, and big data. Practical applications in Islamic banks were explored, such as risk analysis, financing application evaluation, and fraud detection, with a strong emphasis on aligning these technologies with Shari'ah rulings and governance mechanisms.
Participants also learned about the experience of the first AI Hackathon in Islamic Finance, organized by IsDBI. A key objective of the hackathon was to transform Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) accounting standards from specialized texts into smart digital solutions, thereby supporting Shari'ah compliance and accounting in Islamic financial institutions more efficiently and transparently.
The program further addressed challenges related to data quality, bias, transparency, and interpretability, linking AI ethics to the objectives of Shari'ah and promoting the development of responsible governance frameworks for these technologies. Interactive sessions enabled participants to work in groups to develop real-world cases and examples. They designed six virtual companies in the financial services sector, which were later integrated into two strategic ecosystems. These ecosystems served as practical testing grounds for the proposed ideas and models.
The program concluded by emphasizing the growing role of artificial intelligence in central banks, regulatory bodies, and the broader Islamic financial sector. Participants engaged in interactive activities to outline an initial roadmap for adopting AI in financial and regulatory institutions, promoting innovation and establishing a culture of responsible use in line with regulatory requirements and Shari'ah controls. Certificates of attendance were awarded to all participants at the end of the program.
Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).Social media:
X (Twitter): https://apo-opa.co/4pErkTM
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About the Islamic Development Bank Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org/
Islamic Development Bank Institute (IsDBI) Launches eBook Reader App Review Competition
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The Islamic Development Bank Institute (https://IsDBInstitute.org/) is pleased to announce the launch of a Competition of the IsDBI eBook Reader App Review. The Reader offers the access to the Institute's extensive collection of publications in Islamic economics and finance on its online bookstore (https://IsDBInstitute.org/publication).
We invite users to share their experiences and feedback as part of a major initiative to enhance the user experience and performance of the Reader.
Participants in the competition stand the opportunity to win generous cash awards:
- First Prize: US$1,500
- Second Prize: US$1,000
- Third Prize: US$700
The competition also offers an opportunity for participants to influence the future of digital access to knowledge in Islamic economics and finance, and gain recognition for their insights and contributions.
The IsDBI eBook Reader App was released in 2022, available for iOS and Android smart devices, and as a web-based cloud version for all supported browsers. This competition aims to promote user engagement and collect qualitative feedback for further enhancements of the Reader.
More information on the Reader and how to download/access it is available here: https://IsDBInstitute.org/ebook-reader-application/
Participants in this competition are expected to submit a written review essay (about 700-1,000 words) of their experience using the Reader, addressing the following aspects: ease of use; interface/navigation; speed; reading features (bookmarking, highlighting, etc.); and library.
We invite users to submit their reviews by email to isdbi-info@isdb.org (with copy to info@isdbinstitute.org) by 15 January 2026.
Full details on the competition are available on IsDBI website here: https://IsDBInstitute.org/ebook-reader-application/
Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).Social media handles:
X (Twitter): https://apo-opa.co/4rmrCQD
Facebook: https://apo-opa.co/4rvJOrp
LinkedIn: https://apo-opa.co/48CJ7oz
About the Islamic Development Bank Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org/
International Islamic Trade Finance Corporation (ITFC) Strengthens Comoros’ Energy Security and Food Resilience with Innovative Trade Finance Solutions
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, continues to make significant progress in its partnership with the Union of Comoros, delivering impactful trade finance solutions to bolster the country's energy security, food supply, and economic diversification.
With no domestic oil production and modest agricultural output, Comoros depends heavily on imports to power its economy and sustain its population of approximately 850,000. Since 2008, ITFC has emerged as a critical partner, approving over US$799.3 million in trade finance to support the country's development priorities.
Powering a Nation Through Energy Financing
Since its inception, ITFC has approved US$655.4 million in energy financing for Comoros, accounting for over 80% of all ITFC support to the country. This investment has allowed Comoros to secure all its annual imports of refined petroleum products, estimated at 100,000 m³, ensuring the stability of its energy supply even amid global price shocks.
In 2023, ITFC partnered with Société Comorienne des Hydrocarbures (SCH), the state-owned hydrocarbons company, to implement an Integrated Trade Solution (ITS) that combined financing with capacity building. As part of a Reverse Linkage program, SCH staff trained at Tunisia's STIR Refinery, gaining vital skills in trade negotiations, Islamic finance, and oil storage management. This initiative safeguards around 480 direct jobs, with nearly 200 of them held by women. Over 70% of petroleum imports are sourced from OIC member countries, reinforcing intra-OIC trade and regional cooperation.
Securing Food Supply Amid Global Price Shocks
In 2024, ITFC approved a new EUR 20 million trade finance facility to strengthen food security in the Union of Comoros. The facility will finance the import of essential staple foods, including rice, flour, sugar, oil, and meat, providing critical support to the nation's food supply chain.
In 2023, Comoros imported 91,929.94 metric tons of foodstuffs valued at EUR 62.7 million. The new facility will cover about 31.9% of annual food procurement needs, enabling households to access food at more affordable prices. This financing supports 50 to 75 local micro and small enterprises, sustaining over 2,500 jobs. Since its establishment, ITFC has provided over US$143.9 million in financing to support the food security and agriculture sector.
Additionally, ITFC promotes Islamic finance in Comoros through its partnership with local banks, namely, AFG Bank and BDC. This expands access to Letters of Credit (L/C) confirmation facilities and strengthens the domestic financial sector, aligning with the government's diversification agenda.
Through these strategic interventions, ITFC continues to play a vital role in advancing Comoros' sustainable development agenda by ensuring energy security, strengthening food systems, and empowering local enterprises. The Corporation's integrated trade finance solutions enhance resilience to external shocks and promote inclusive economic growth and regional cooperation.
Watch the Comoros project video - https://apo-opa.co/3LDt6Wv
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).Contact Us:
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: ITFC@itfc-idb.org
Follow International Islamic Trade Finance Corporation (ITFC):
Twitter: @ ITFCCORP
Facebook: @ ITFCCORP
LinkedIn: International Islamic Trade Finance Corporation (ITFC)
About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$89 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries' needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.
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