Islamic Development Bank (IsDB) Board Approves US$1.12bn in Development Financing
The Board of Executive Directors of the Islamic Development Bank (IsDB) announced the approval of $1.12bn in financing for development projects in various sectors in 9 member countries along with $1.79m in grants for various other projects including special assistance grants to Muslim communities in 3 non-member countries, during its 347th session.
IsDB Restates Commitment to Climate Finance
At the 2022 edition of the Arab-DAC Dialogue on Development, the Chairman of IsDB, Dr. Muhammad Al Jasser restated the commitment of the bank to climate finance and the green transition.
The IsDB called for partners to work together to stimulate effective climare-related investment and to mitigate the impact of the low carbon transition.
At the global level, nations are beginning to adopt green transition programmes like Nigeria that recently launched the 2060 “Energy Transition Plan”.
High Interest Rates and Improved Fiscal Positions to Cause Decline in Global Sukuk Issuance in 2022: Moody’s
According to Moody’s Investor Services, Global sukuk issuance is anticipated to witness a decline from $181bn in 2021 to between $160bn and $170bn in 2022.
This is occurring at a time nations are shifting to sustainable financing measures amidst global liquidity glut and the race to liquidity.
University Don Explains What Nigeria Must do to Address the Scarcity of Talent in Non-Interest Finance
Increased collaborations between international certification bodies like the Accounting and Auditing Organization for Islamic Financial Institutions, AAIOFI and professional institutions like the Chartered Institute of Bankers of Nigeria, CIBN, can go a long way to address the scarcity of talents in the Non-Interest Finance industry in Nigeria.
Dr. Adam Abubakar, Associate Professor of Islamic Finance, and Lead Consultant on Islamic Finance at ANUTI Ethical Consulting Limited, made this point while giving his views on the scarcity of talent in non-interest finance featured on WebTV.