IsDB Global Forum Focuses on Islamic Finance for Sustainable Prosperity
Baku, Azerbaijan, 17 June 2026 – The 20th IsDB Global Forum on Islamic Finance took place in Baku, Azerbaijan, alongside the IsDB Group Annual Meetings. The event carried the theme “Achieving Sustainable Prosperity through Islamic Finance.” Its purpose was to bring together policymakers, regulators, development experts, and industry leaders to discuss how Islamic finance can support sustainable development and tackle economic challenges in Member Countries.
The Forum connected with the broader Annual Meetings theme, “Regional Integration for Sustainable Prosperity.” Discussions centered on how Islamic finance can help deepen regional ties, build economic resilience, and promote inclusive growth within the IsDB Member Countries.
Keynote addresses highlighted the role of Islamic finance in future development. Mr. Taleh Kazimov, Governor of the Central Bank of Azerbaijan, emphasized his country’s dedication to developing the Islamic finance sector. He described Azerbaijan as a reformer and a bridge between different regions and markets. He stressed the need for a clear strategic vision to guide future growth and partnerships.
Eng. Adeeb Yousuf Al Aama, CEO of ITFC, spoke on behalf of the IsDB Group. He framed Islamic finance not just as an alternative financial approach but as a values-driven system that connects finance with real economic activity, shared prosperity, and social welfare.
Dr. Sami Al-Suwailem, Acting Director General of IsDB Institute, noted the IsDB Group’s role in growing the global Islamic finance industry, which is valued at about US$4 to 5 trillion. He pointed out that innovation must remain a priority to keep the IsDB Group at the forefront and ensure the industry continues to aid sustainable development.
The Forum featured several important moments:
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The release of a new report titled “Islamic Finance in Azerbaijan: Breaking New Ground,” created jointly by IsDBI and ITFC.
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The announcement of a memorandum of understanding between IsDBI and the Labuan Financial Services Authority to explore the Awqaf Free Zones project.
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Two panel discussions addressing Islamic finance’s impact on development and practical ways to mobilize sustainable finance for food and energy security.
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Recognition of winners in the Applied AI in Islamic Finance Competency Challenge.
The first panel examined how Islamic finance can help countries overcome development hurdles and transform their economies. The panel included Mr. Shahin Aydin Mahmudzade of the Central Bank of Azerbaijan, Mr. Adnan Zaylani from Bank Negara Malaysia, Ms. Mihoko Kumamoto of UNITAR, Dr. Bambang Brodjonegoro from the Asian Development Bank Institute, and Dr. Areef Suleman of the IsDB Group. Mr. Mustafa Adil from the London Stock Exchange Group moderated the session.
The second panel focused on sustainable finance’s role in supporting food and energy security. Participants included Mr. Valeh Alasgarov of the AFEZ Authority in Azerbaijan, Dr. Mansur Muhtar of Nigeria’s Bank of Industry, Professor Emeritus Dato’ Dr. Azmi Omar of INCEIF University, and Mr. Orkhan Vidadi oglu Mammadov of Azerbaijan’s Small and Medium Business Development Agency. Mr. Yahya Rehman from IsDBI served as moderator.
Winners of the AI challenge received awards: Mr. Emin Jaafar from AlifPay took first place, Mr. Khalil Ben Mohamed of Ayech earned second place, and Mr. Elchin Huseyn from Mink Platform won third place.
Attendees identified key priorities for future work. These included expanding innovative Islamic finance tools, strengthening partnerships, and boosting capacity development programs. The Forum confirmed the IsDB Institute’s important role in advancing practical, innovative solutions that support sustainable growth and regional cooperation through Islamic finance.
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