Paris, France, 11 November 2021 - Islamic Development Bank (IsDB) President and Chairman of IsDB Group, H.E. Dr. Muhammad Al Jasser, met with theChief Executive Officer of Société Générale, Mr. Frédéric Oudéa, in Paris, France, on the margins of the Paris Peace Forum. 

During the meeting. Dr. Al Jasser praised the ongoing excellent business and treasury relationship between the two institutions and encouraged to further expand the engagement and partnership to the next level. 

At the meeting, Dr. Al Jasser reinvigorated the significant opportunities Société Générale’s ALM/Treasury could draw by considering in investing in Islamic Development Bank’s Sukuk as it properly qualifies for HQLA Level 1 Status and zero percent (0%) risk weight. 

Mr. Frederic Oudéa, on his side, thanked Dr. Al Jasser for the quality of the relationship between the two institutions and expressed the commitment of Société Générale to support the IsDB in further developing its agenda. 

The two sides also deliberated on the best ways and mechanisms to continue in promoting IsDB Sukuk and papers as well as conducting investor meetings in Europe and globally.

President Al Jasser seized the opportunity to emphasize the importance of the Global Custodian project in enabling the Islamic Development Bank to access investment infrastructure that will allow IsDB to successfully implement its new investment strategy.

The Société Générale has been a traditional partner of IsDB in its public issuance and arrangement of private placements. Société Générale has also brought many new investors to IsDB Sukuk trades. In addition, it has been in almost all IsDB public issuance trades as a JLM/Arranger due to its support of IsDB in the capital markets in general.