Islamic Finance

IRTI and Arab Monetary Fund Explore New Areas of Collaboration in Islamic Finance

| 06 August, 2018

Jeddah, Kingdom of Saudi Arabia, 6 August 2018 - The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group and the Arab Monetary Fund (AMF) have begun exploring opportunities to deepen collaboration between the two institutions towards supporting the development of Islamic finance.

This was one of the outcomes of series of meetings held during a visit by the Director General of IRTI, Dr. Humayon Dar, to AMF headquarters in Abu Dhabi, UAE. The visit was on the invitation of Dr. Abdulrahman Al Hamidy, Director General and Chairman of the Board of Directors of AMF.

During the meetings, IRTI and AMF officials discussed cooperation on IRTI’s Islamic Finance Country Reports, where AMF is expected to collaborate with IRTI on the production of a number of such reports, the first of which is to be on the Republic of Djibouti.

Other areas of partnership identified include development of AMF-IRTI sukuk index, collaboration on IRTI-Cambridge Workshop on Developing New Islamic Financial Solutions, and cooperation to organize an international conference on Islamic banking and finance.

The IRTI Director General, Dr. Dar, said, “IRTI has been offering joint training programs together with AMF to the common member countries of IsDB and AMF since 2014. The visit to AMF headquarters was an excellent opportunity to explore new areas of collaboration and cooperation, in addition to strengthening existing partnership between the two institutions.”

Dr. Al Hamidy, the Director General and Chairman of the Board of AMF, welcomed Dr. Dar’s visit and the initiative to deepen partnerships with stakeholders in Islamic banking and finance to achieve mutual objectives.

About IRTI:

The Islamic Research and Training Institute (IRTI) is a Member of the Islamic Development Bank (IsDB) Group responsible for enabling the development and sustenance of a dynamic and comprehensive Islamic financial services industry, which supports socio-economic development of member countries and Muslim communities worldwide. More information about IRTI is available on www.irti.org. For media enquiries, contact Habeeb I. Pindiga (hpindiga@isdb.org).