Muscat, February 27-29, 2024 – Islamic Development Bank (IsDB) President, and Group Chairman, H.E. Dr. Muhammad Al Jasser, undertook an official visit to The Sultanate of Oman from February 27th to 29th. The visit aimed to strengthen collaboration between the Sultanate and the IsDB Group.

During the visit, Dr. Al Jasser met with H.E. Sultan bin Salem Al Habsi, the Omani Minister of Finance and IsDB Governor. The meeting discussed bolstering collaboration opportunities across various sectors, particularly focusing on financing projects aimed at creating employment opportunities for citizens as well as leveraging the Bank's expertise in supporting small and medium-sized enterprises (SMEs).

Dr. Al Jasser highlighted the progress of the IsDB Group’s operations in Oman, with total operations amounting to US$ 1.9 billion. He also praised the efficiency of project execution and conveyed the IsDB Group’s eagerness to further finance projects in the foreseeable future.

President Al Jasser also held a meeting with H.E. Tahir bin Salim bin Abdullah Al Omari, CEO of the Central Bank of Oman, where they discussed enhancing relations and expanding cooperation opportunities. Dr. Al Jasser expressed his appreciation for the existing cooperation between the Islamic Development Bank and The Sultanate of Oman, indicating the Bank's desire to strengthen cooperation with the Central Bank of Oman in areas such as Sukuk investment, liquidity management, capacity building, and the exchange of expertise.

Additionally, Dr. Al Jasser was briefed on the activities of the Public Authority for Special Economic Zones and Free Zones in Oman, along with the operations of the Public Establishment For Industrial Estates (Madayn). This came during his meeting with H.E. Eng. Dawood bin Salim Al Hadabi, CEO of Madayn, and the technical team.

The IsDB President also visited the Al Rusayl Industrial Project, which the Bank financed its expansion, and commended the quality of execution and its positive impact on various industries in the region. Dr. Al Jasser further lauded the project's role in accelerating economic development in the Sultanate of Oman.

Furthermore, Dr. Al Jasser visited Al Jufaina Dam in the Wilayat of Al Amerat, in the Governorate of Muscat, which is one of the dams financed by the Bank as part of the Flood Protection Dams project. He was welcomed by Eng. Ali bin Mohammed Al Abri, Undersecretary of Oman's Ministry of Agriculture, Fisheries, and Water Resources, and Hon. Zahir Marhoun Mohammed Al Abri, Director General of Treasury and Accounts at the Omani Ministry of Finance who is also IsDB Executive Director, in addition to several officials related to the project.

The project aims to protect citizens and properties from flood risks in light of the increasing risks associated with natural phenomena in the region due to climate change.

The IsDB Group's Chairman visit to Oman underscores the commitment to fostering economic development, addressing climate challenges, and nurturing cooperative ties for mutual benefit.