Tunis:The Islamic Development Bank (IsDB) Group and the Islamic Financial Services Board (IFSB) have formalized a Strategic Collaboration Framework aimed at enhancing stability, financial inclusion, and sustainable growth within the global Islamic financial services sector. The agreement was signed by Dr. Rami Ahmad, IsDB Vice President of Operations, and Dr. Ghiath Shabsigh, IFSB Secretary-General, in the presence of IsDB Group Chairman Dr. Muhammad Al Jasser during the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group.

According to Saudi Press Agency, the framework is designed to bolster institutional and strategic coordination between the IsDB Group and the IFSB. It leverages their combined expertise and resources to support financial inclusion and sustainable economic development, with a focus on developing regulatory frameworks to improve the safety and soundness of Islamic finance in member countries.

The collaboration outlines a multiyear work program that includes institutional capacity building, technical assistance, and closer integration of regulatory standard-setting and implementation. Additionally, it emphasizes research on emerging risks and opportunities in Islamic finance and the sharing of best practices.

Dr. Ahmad highlighted the importance of supporting the global regulatory architecture of Islamic finance as a priority for the IsDB Group. He stated that the new framework elevates the partnership with the IFSB, enhancing the efficiency and capacity of financial institutions in member countries.

Dr. Shabsigh pointed out that the effectiveness of regulatory standards relies on the capacity of countries and their institutions to implement them. He acknowledged the IsDB's extensive experience in development finance as crucial for translating regulatory frameworks into more robust financial systems. Dr. Shabsigh also expressed enthusiasm for expanding cooperation between the two organizations.