H.E. the President of IDB, Dr. Ahmad Mohammed Ali, and Indonesia’s Financial Service Authority (OJK) Chairman Muliaman D. Hadad signed a memorandum of understanding (MoU) to promote cooperation between the two institutions on the 5^th of August 2015 in Jeddah.

The MoU focused on strengthening existing cooperation between IDB Group and OJK which focus areas are research, training and advisory services, Islamic financial services, and exchange of expertise and knowledge with other Indonesian entities and private sector institutions, as well as establishing a special center of excellence for microfinance under OJK in Jakarta.

IDB Group President expressed his gratitude for the four decades of extensive cooperation between IDB Group and the Republic of Indonesia as one of the founding members. He was confident that the cooperation with OJK will further pave the ground for materializing IDB Group’s priority programs in Indonesia. OJK Chairman, Muliaman D Hadad considered this event a step in consolidation of the long partnership with the IDB Group.