Jeddah, Kingdom of Saudi Arabia | 14 February 2025 - The President of Islamic Development Bank (IsDB), H.E. Dr. Muhammad Al Jasser today hosted Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and her delegation at IsDB Headquarters in Jeddah for high-level bilateral talks on economic resilience, sustainable development, and global financial stability.

The visit marks a historic milestone in IsDB-IMF cooperation, as it is the first time an IMF Managing Director has visited IsDB HQ. Discussions focused on enhancing coordination on member countries’ economic priorities, strengthening collaboration, and advancing solutions for post-conflict and vulnerable economies.

President Al Jasser, accompanied by IsDB senior management, highlighted the importance of deeper engagement between the two institutions to support economic stability across diverse regions. He emphasized the need for proactive and adaptive strategies to address challenges such as economic fragmentation, demographic shifts, and digital transformation in emerging markets.

Both parties also discussed the upcoming Joint Islamic Finance Report 2025, a collaborative initiative between IsDB and IMF aimed at assessing the role of Islamic finance in global markets, regulatory challenges, and its potential to drive financial inclusion and stability.

The IMF Managing Director acknowledged IsDB’s contributions to macroeconomic stability, capacity building, and knowledge-sharing efforts across its 57 member countries. She emphasized the need for greater policy coordination, investment in digital transformation, and sustained multilateral engagement to support emerging economies.

The discussions also reaffirmed both institutions’ commitment to supporting post-conflict and vulnerable economies, ensuring that member countries receive the financial and policy assistance needed to sustain economic recovery and long-term stability.

As part of the visit, Georgieva and Dr. Al Jasser participated in a fireside chat, where they exchanged perspectives on global economic challenges, shifting geopolitical dynamics, and the role of multilateral institutions in fostering economic resilience. The discussion underscored the importance of sustained engagement and adaptive policies to help fragile economies rebuild and thrive.

The visit also reinforced the commitment of both institutions to building on the Memorandum of Understanding (MoU) signed in October 2022, which laid the foundation for joint initiatives in economic analysis, policy coordination, and capacity-building efforts.

With IsDB and IMF focused on fostering economic resilience and driving inclusive growth, both institutions reaffirmed their commitment to strengthening cooperation and continuing to provide a helping hand to member countries, ensuring sustained trust and long-term development.