IsDBI annual report showcasing creative solutions for Islamic Finance and Development

The report was unveiled during the IsDB Group Annual Meetings and Golden Jubilee Celebration in Riyadh, Kingdom of Saudi Arabia, held from 27-30 April 2024.

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has issued its Annual Report for the year 2023, showcasing its activities and accomplishments in Islamic finance transformation and creative solutions for sustainable development.

 

The report was unveiled during the IsDB Group Annual Meetings and Golden Jubilee Celebration in Riyadh, Kingdom of Saudi Arabia, held from 27-30 April 2024.

The report covers the Institute’s accomplishments in key functional areas that include leading Islamic finance sector transformation, synergizing knowledge technologies with Islamic finance, building human capital in Islamic finance and development, and publishing in Islamic economics and finance.

“Through the strong anchoring of the facility structure, positive Environmental, Social and Governance (“ESG”) reporting track record and market support on this transaction, subsequent to deal closure and announcement last year, RMB have been working with the Ministry of Economy and Finance of Côte d'Ivoire to increase the size of the facility. This not only highlights the confidence the market has in the Republic of Cote’ D’Ivoire, but also the positive impact the facility has made as a sustainable and cost-effective solution within the Ministries funding mix. Although we have been recognized as the best Trade Finance bank in Southern Africa for the past 3 years, this best deal award demonstrates our reach and impact covers the entire continent.”

RMB has over the years, been providing various solutions to the African Sovereign market, from syndicated lending facilities, Green Bonds, Eurobonds and more recently short-term structured solutions to provide budgetary support. This collaboration with MIGA continues RMB’s proud history of providing new and innovative solutions for our clients on the continent and further entrenches our position as one of the leading trade finance banks in Africa. 

Mergan Naidoo, Head of Trade at RMB commented: “This deal was a demonstration of intentional collaboration with purpose. Africa is in desperate need of sustainable solutions that create value for the continent by accessing global credit appetite and packaging it in a simple, cost effective and, most importantly, meaningful way. This milestone transaction took time, perseverance and ‘grit’ that forged relationships geared toward accelerated scalability, linear to the value returned to the continent.”

"We are delighted to have won both these awards, and that this is the 6th consecutive year we have won the award for Best Trade Finance Bank Southern Africa. These awards are proof of RMB’s trade finance capabilities and success in forging partnerships with insurance, guarantee and export credit agency providers to extend meaningful funding support to our clients across Africa. Collaboration with development financial institutions and multilaterals remains key to truly unlocking new opportunities to support our clients,” concluded Bechet. 

(With Inputs from APO)