IsDB | Maeeshat

Istanbul to host SESRIC-IsDB Symposium on Financing for Development today

by admin | May 25, 2021 | Muslim World

Istanbul : The Turkish city of Istanbul will host Thursday the International Symposium on Financing for Development, under the theme of “Thinking Innovative Solutions to Persistent Development Challenges”.

The two-day event is being organized by the Statistical, Economic, Social Research and Training Centre for Islamic Countries (SESRIC), a subsidiary organ of the Organization of Islamic Cooperation (OIC), and the Islamic Development Bank (IsDB).

The symposium will provide a platform for dialogue and discussions among policymakers, policy-advisors, practitioners and academicians to address the problems related to financing for development.

The current 57 member states of the OIC are highly diversified in terms of their level of economic development and many of them require a substantial amount of resources to finance their development.

These countries continue to face persistent development challenges, mainly due lack of adequate resources and ineffective use of existing resources. Meanwhile, there are also a growing number of OIC member states that have been active in supporting development in other developing countries, but their role in development assistance is not properly recognized at global levels.

In order to address the development finance challenges, alternative mechanisms are being voiced across the globe. A particularly strong mechanism that becomes increasingly popular is the Islamic finance instruments in financing for development, which can be instrumental for OIC countries in fostering development when effectively utilized.

In this connection, the symposium aims to identify the opportunities for innovative financing mechanisms, including Islamic finance instruments, as well as effective utilization modalities of existing resources for financing development in developing countries, with a particular focus on OIC member countries. It will also highlight and discuss the growing role of some OIC countries as development financiers and emerging donors in achieving global development goals.

—AB/UNA-OIC

Istanbul hosts workshop on IsDB’s policy of engagement with civil society

by admin | May 25, 2021 | Muslim World

Istanbul : A major consultative workshop was held recently here for two days in Turkey on IsDB’s policy of engagement with the Civil Society Organizations (CSOs) in different member countries.

A joint effort by IsDB and SESRIC and partners in collaboration with IsDB Group Regional Hub Turkey, the event was held on the sidelines of the workshop on “enhancing humanitarian response and resilience through civil society organizations in OIC member states.” A host of experts and professionals attended the consultative seminar including those from Jordan, Nigeria, Afghanistan, Somalia, the OIC, SESRIC, IsDB, UNDP, UNHCR, IITA, Turkish Red Crescent, Pakistan Poverty Alleviation Fund, Save the Children, IFRC in Africa, IHH, Doctors Worldwide Turkey, and Islamic Relief Worldwide.

The consultative workshop came in line with the Global Agenda 2030 as the IsDB remains at the forefront of addressing diverse challenges faced by its member countries in various economic and social sectors.

Since the 10-Year Strategy of the Bank calls for inclusive social development and more participation of NGOs / CSOs in IsDB development interventions, IsDB has embarked on the preparation of a CSOs engagement policy to provide guidance on its interventions with CSOs among other things NGOs, community groups, foundations, and think tanks. The policy aims first, to create a framework of dialogue, consultation and partnership with CSOs in order to foster the sharing of knowledge and experiences; and improve the direct assistance to local communities in member countries and or Muslim communities in non-member countries through CSOs.

A policy study has also been commissioned to take stock of the internal strengths, weaknesses, opportunities, and threats in relation to the Bank’s capability to engage with civil society across all its operations. Moreover, a review and assessment exercise of other Multilateral Development Banks’ engagement with CSOs has been carried out to benchmark the policy with the involvement of similar organizations.

—SM/UNA-OIC