H.E. Tun Musa Hitam, WIEF Chairman and H.E. Dr. Ahmad Mohamed Ali, IDB President signed the MOU on behalf of their respective Institutions.

Under the MOU, fields of mutual cooperation involve discussion on development issues aimed at better understanding of global economic challenges, promotion of strategic alliances and partnerships, promotion of economic growth through increased intra-trade and intra-investment, contribution towards the integration of Muslim Economies among themselves and with the world, in addition to promotion of social sectors (health and education) and contributing in alleviation of poverty.
The World Islamic Economic Forum (WIEF), established in 2005, is a platform designed to become the preeminent World Forum on Muslim Leadership and Islamic Business and Trade. The WIEF is organized by the World Islamic Economic Forum Foundation, in association with the Asian Strategy & Leadership Institute, the Islamic Chamber of Commerce & Industry, the Islamic Centre for Development of Trade and supported by the Islamic Development Bank. The WIEF aims to create a better Muslim world through solid economic cooperation and business partnerships.