IDB branch to consider Islamic banking sustainability within UN goals

An IDB branch is considering Islamic banking sustainability within UN goals.
An IDB branch is considering Islamic banking sustainability within UN goals.

The Islamic Development Bank Group’s IRTI — Islamic Research and Training Institute — is preparing to assess the feasibility of matching United Nations-established sustainability goals as it organizes a May 16 global seminar in Jakarta, Indonesia. 

Housed within the structure of a larger worldwide forum slated for May 15-19, the 11th Global Forum on Islamic Finance will enable discussion of strategic policy among many industry stakeholders and government leaders, with a specific emphasis on building Islamic finance on an international plane. 

The 2016 forum centers on the "Role of Islamic Finance in Achieving the Sustainable Development Goals"; will be coordinated jointly with Bank Indonesia; and will be officially opened by IDB President Ahmed Mohamed Ali. Indonesian leaders are expected to participate with an interest in raising the profile of Islamic financing in their own nations.

IDB member IRTI strives to develop and maintain a robust Islamic banking industry supporting trade in member countries. IRTI’s director general, Mohamed Azmi Omar, praised the convention theme as well timed given the recent launch of the UN's Sustainable Development Goals (SDG). 

"IRTI chose this theme because it is important that we find ways in which Islamic finance can support global development initiatives like the SDGs, especially in our member countries," Omar said.

Based in Jeddah, Saudi Arabia, IRTI maintains membership in IDB and operates regional offices in Almaty, Kazakhstan; Kuala Lumpur, Malaysia; Rabat, Morocco; and Dakar, Senegal.

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