IsDBI launches new Islamic Microfinance Toolkits
The Islamic Development Bank Institute (IsDBI) and the IsDB Global Practice & Partnership (GPP) Directorate, through its Cooperation and Capacity Development Department (CCD), have officially launched new Islamic Microfinance Toolkits
Jeddah: The Islamic Development Bank Institute (IsDBI) and the IsDB Global Practice & Partnership (GPP) Directorate, through its Cooperation and Capacity Development Department (CCD), have officially launched new Islamic Microfinance Toolkits.
A five-volume series, the new Islamic Microfinance Toolkits are aimed at strengthening inclusive financial ecosystems across IsDB Member Countries.
The toolkits offer a comprehensive and practical roadmap to establish, operate, monitor, and regulate Islamic microfinance institutions.
Developed through extensive research, field experience, inter-departmental collaboration, and stakeholder consultations, the revamped toolkits are aimed at assisting policymakers, regulators, and practitioners in unlocking the full potential of Islamic microfinance to combat poverty, foster entrepreneurship, and promote sustainable development.
"Participation of Poor"
Highlighting the importance of Islamic Microfinance, Dr. Sami Al-Suwailem, Director General of IsDBI, the system opens the door for the poor to participate in economic growth.
“Islamic microfinance, grounded in principles of fairness and risk-sharing, is a vital tool to enable the poor to participate in economic activity with dignity and purpose. These toolkits provide concrete steps for stakeholders to build inclusive financial systems that reflect both the spirit and substance of Islamic finance", he said.
Dr. Issa Faye, Director General of GPP, said the new Islamic microfinace toolkits will help the member states in strengthening their financial inclusion strategies.
“This joint initiative reflects our collective commitment to support member countries in strengthening their financial inclusion strategies. By providing technical guidance and practical models, we aim to empower institutions to design scalable, context-sensitive Islamic microfinance solutions", he said.
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.
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