Bandar Seri Begawan, Brunei Darussalam, 29 August 2024 – During his official visit to Brunei Darussalam, Islamic Development Bank (IsDB) President H.E. Dr. Muhammad Al Jasser met today the Sultan and Yang Di-Pertuan of Brunei Darussalam, His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah.

During the royal audience, H.E. Dr. Muhammad Al Jasser expressed his gratitude to the Government of Brunei Darussalam for its continued and indispensable support of the Islamic Development Bank Group. He reaffirmed the steadfast commitment of the IsDB Group to accompany the development vision of Brunei under the judicious leadership of His Majesty.

H.E. Dr. Muhammad Al Jasser conveyed the IsDB Group’s keenness to maximize the untapped potential for purposeful and impactful multi-sectoral and multi-thematic cooperation with Brunei Darussalam.

Describing the signing of the Memorandum of Understanding (MoU) within the IsDB Group’s Country Engagement Framework (CEF) for Brunei Darussalam as a significant milestone, H.E. Dr. Muhammad Al Jasser noted that the document outlines key areas of cooperation and lays the groundwork for the development of a comprehensive CEF over the period 2025-2030.

The CEF, according to H.E. Dr. Al Jasser, is aligned with Brunei Darussalam’s Wawasan 2035 vision and will provide a strategic roadmap for future collaboration between the IsDB Group and the prominent member country. The CEF key pillars are hinging on promoting Islamic Finance and supporting the SMEs ecosystem, cross-cutting sectors including capacity development, regional economic cooperation and integration, as well as climate change mitigation and adaptation.

During the royal audience, H.E. Dr. Muhammad Al Jasser briefed His Majesty on various humanitarian initiatives led by the IsDB, with a strong emphasis on fostering Islamic solidarity. Moreover, H.E. Dr. Al Jasser evoked the IsDB’s broader philanthropic engagements, which focus on education, healthcare, and social protection for vulnerable populations across member countries, reflecting the Bank’s commitment to enhancing the welfare of communities in line with the principles of Islamic solidarity and mutual support.

Brunei Darussalam has been an IsDB member country since April 1986, and the country is also a member of IsDB Group entities, namely the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); the Islamic Corporation for the Development of the Private Sector (ICD); and the International Islamic Trade Finance Corporation (ITFC). 

Media Opportunities:

Ahmad Abu Ghazaleh, IsDB Communications and Outreach Department.

Email: aghazaleh@isdb.org

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