H.E. Mr. Sardor Umurzakov, Chairman of the Islamic Development Bank (IsDB) Board of Governors (BoG), Deputy Prime Minister and Minister of Investment and Foreign Trade of the Republic of Uzbekistan, has announced that as per the confirmation of IsDB Group General Secretariat, the BoG adopted by circulation the resolution on the election of the candidate nominated by the Kingdom of Saudi Arabia, H.E. Dr. Muhammed Sulaiman Al Jasser, as the new IsDB President for 5 years.

The BoG also adopted a resolution expressing profound gratitude and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, and the Government of the Kingdom of Saudi Arabia for the continuous support to IsDB since its inception.

The resolution also reflects recognition and appreciation from the BoG towards the excellent services provided by H.E. Dr. Bandar M. H. Hajjar to IsDB and IsDB Group entities since he was elected, and towards the stellar success achieved by the Group over the past period, uplifting its status among peer institutions and in global financial markets.

The BoG Committee of Procedures, under the chairmanship of H.E. Mr. Sardor Umurzakov, and with the participation of the honourable governors who are the members of the Committee, had held a virtual meeting on Tuesday, 6 July 2021, to consider the candidacy of H.E. Dr. Al-Jasser for the position of IsDB presidency submitted by KSA to succeed H.E. Dr. Hajjar.

In that meeting, the Committee recommended the adoption of the draft resolution on the election of H.E. Dr. Al-Jasser as the new IsDB President for the next 5 years. It also recommended the adoption of another draft resolution on addressing a letter of appreciation and recognition to H.E. Dr. Hajjar. Both draft resolutions were presented to the BoG members for adoption by circulation.