Dubai, UAE, 8 February – The President of Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali has stated that Islamic banking can promote financial inclusion in the OIC member countries. Dr. Ali stated this in Dubai during the 4th World Government Summit 2016.

The Summit was opened by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai on February 8.

Dr. Ahmad Mohamed Ali, who spoke in one of the side events re-affirmed IDB Group’s readiness to be a strategic partner of the summit in order to address the challenges facing member countries, particularly in the area of financial inclusion. He said that the IDB Group will support special strategies to promote financial inclusion, implementing quick-win programs and innovative solutions that enhance socio-economic development, prosperity and well-being.

Dr. Ali emphasized the importance of the summit, given the crucial development issues it discusses, including fiscal challenges, financial inclusion and partnerships to support sustainable development.
He added that IDB’s successful experience in the field has attracted the attention of international development institutions such as the French Development Agency.

The Islamic micro-finance program was launched by IDB Group to offer financing to those who do not have access to banking services. It helps people participate in economic activities that will provide them with decent livelihoods. The program has had great success in Sudan and Tunisia. Thanks to Islamic micro-finance, IDB Group’s rural development program in Bangladesh was also successful in helping women create small-and medium-sized projects in rural areas.

Dr. Ali further affirmed IDB Group’s readiness to replicate successful projects in other countries, to contribute more effectively to future editions of the summit, and to set up an exhibition showcasing success stories for the benefit of the summit’s participants.

The summit was attended by more than 3,000 government officials from 125 countries and heads of 6 international organizations, including the World Bank.