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Amãna Bank joins 48th IsDB Annual Meetings in Jeddah

Amãna Bank June 1, 2023

Amãna Bank recently participated in the much acclaimed 48th IsDB Annual Meetings, which took place from 10 to 13 May in Jeddah, Saudi Arabia with the presence of OIC member country Ministers of Finance, Governors of Central Banks, and invitees from IsDB investee banks and institutions. Besides the presence of 57 OIC member countries, the four-day event attracted over 4,000 participants from 90 countries around the world as well as 89 leading regional and international partner organizations such as World Bank, IMF, UNDP and ADB. Amana Bank was represented by its Chairman Asgi Akbarally and Managing Director/CEO Mohamed Azmeer, who were engaged in high-level discussions and participated in key sessions.

The annual meetings of the IsDB Group serve as a platform for discussions on development challenges and institutional challenges in member countries. This year, the IsDB Group successfully hosted a series of knowledge-sharing sessions and flagship events featuring top-level panellists from government, international and regional organizations such as the World Bank, IMF, UNDP and ADB, including the private sector, academia, and civil society. Guided by the theme of ‘Partnerships to Fend off Crises’, these session encouraged collaboration, innovation, and strategic alliances.

The knowledge-sharing session also emphasized stronger partnerships and increased efforts to achieve Sustainable Development Goals (SDG), which were disrupted due to the Covid-19 pandemic and subsequent economic and political crises. The panellist called on the international community to renew its efforts to increase public-private partnership investments and alternative financing mechanisms. The summit also included high-level plenary sessions, technical symposiums, and side events focusing on a wide range of topics, such as poverty alleviation, infrastructure development, women and youth empowerment, and climate action.

Sharing his views on the IsDB Annual Meetings, Amana Bank’s Chairman Asgi Akbarally said “We are happy to have joined the IsDB Annual Meetings alongside esteemed leaders and experts from across the world who deliberated on key topics affecting the global economy. Our engagement in this prestigious event perfectly aligns with our vision of fostering economic growth and sustainable development.”

Commenting on the Bank’s participation at the summit, Amana Bank’s Managing Director/CEO Mohamed Azmeer said “We are honoured to have participated for the IsDB Annual Meetings 2023, despite Sri Lanka not being an OIC member country. During the IsDB Annual Meetings, we witnessed 77 agreements being signed to the tune of USD 5.4 billion covering healthcare, agriculture, food security, SME, education and humanitarian support. I am hopeful and eager to see Sri Lanka too benefiting from such development agreements in the future, which is not limited to OIC member countries but also countries who have obtained OIC observer membership status, such as Russia and Thailand.”

Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah-based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amãna Banks continued to be recognized amongst the Top 100 Strongest Islamic Bank’s in the World by The Asian Banker.

Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.


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