Islamic Development Bank Group (IsDBG) joins the SME Finance Forum global network to enhance coordination with international institutions for more impactful interventions benefiting its member countries and the Muslim communities worldwide.
Washington D.C., January 13th, 2021- Islamic Development Bank Group (IsDBG), including ICIEC, IRTI, ISFD and ITFC, joins the SME Finance Forum as the newest member of our global membership network. Our members are SME Financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide, through knowledge exchange and innovation.
“40 percent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome Islamic Development Bank Group (IsDBG) to our network of 200 members who are working to eliminate the finance gap for SMEs,” said Matthew Gamser, CEO of the SME Finance Forum.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
IsDBG is one of the world’s most active MDBs groups, and global leaders in Islamic Finance. IsDB has a AAA rating, operating assets of more than USD 16 billion and subscribed capital of USD 70 billion. The Group brings together 57 member countries across four continents - touching the lives of 1 in 5 of the world’s population.
“At the Islamic Development Bank Group, we equip people with the tools they need to build a sustainable future for themselves, their communities and their countries, putting the infrastructure in place to enable them to reach their full potential. As a member of the SME Finance Forum global network, we aim to build collaborative partnerships between communities and nations,” said Dr. Bandar M. H. Hajjar, President of IsDBG.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.
The Islamic Development Bank (IsDB) is a Multilateral Development Bank (MDB) established in 1974, working to improve the lives of those it serves by promoting social and economic development in its Member Countries and Muslim communities worldwide, delivering impact at scale. IsDB is a global institution, headquartered in Jeddah, Saudi Arabia, with eleven Regional Hubs in Bangladesh, Egypt, Indonesia, Kazakhstan, Morocco, Nigeria, Senegal, Suriname, Turkey, Uganda and United Arab Emirates. The IsDB Group comprises five entities; The Islamic Development Bank (IsDB), the Islamic Corporation for the Development of the Private Sector(ICD-PS), the Insurance of Investment and ExportCredit (ICIEC), the Islamic Research andTraining Institute(IRTI), the Islamic Solidarity Fund for Development (ISFD) and the International Islamic Trade Finance Corporation (ITFC).