Islamic Development Bank Institute’s Global Forum discusses leveraging disruptive technologies for inclusive development

Islamic Development Bank Institute’s Global Forum discusses leveraging disruptive technologies for inclusive development

Jeddah, Kingdom of Saudi Arabia – The Islamic Development Bank Institute (IsDBI) held its 17th Global Forum on Islamic Finance where senior technology and innovation experts discussed the prospects of disruptive technologies and Islamic finance to foster inclusive development.

The forum was held with the theme ‘Disruptive Solutions for a Resilient Economy’ on 12 May 2023 in conjunction with the 2023 IsDB Group Annual Meetings in Jeddah, Kingdom of Saudi Arabia.

In his keynote speech, the IsDB Group Chairman, H.E. Dr. Muhammad Al Jasser, noted that the world is facing a myriad of dynamic challenges that added pressure on policymakers to explore innovative means to address these challenges.

“We must embrace this ‘disruption’ and integrate it with our business processes to create effective solutions for our member countries. Combining modern technology's efficiencies with the sustainable and ethical principles of Islamic economics can result in championing product solutions that can help tackle various global economic challenges,” Dr. Al Jasser said.

However, he cautioned that any disruptive development needs to be backed by proper oversight, governance, and monitoring mechanisms that anticipate potential instability issues.

“In this regard, I would like to emphasize the role of the IsDB Institute in searching for innovative solutions that can help us