POST TIME: 10 September, 2018 00:00 00 AM
Islamic Development Bank opens regional hub in Dhaka

Islamic Development Bank opens regional hub in Dhaka

Prime Minister Sheikh Hasina inaugurates regional hub of the Islamic Development Bank (IsDB) in Dhaka yesterday. Finance Minister Abul Maal Abdul Muhith(2nd Left), President of the IslamicDevelopment Bank Dr Bandar MH Hajjar(Right), Economic Resources Division (ERD)Secretary Kazi Shofiqul Azam are also seen. focus bangla photo

The Islamic Development Bank (IsDB) yesterday opened its new regional hub in Dhaka, Bangladesh, as part of its continued commitment to support sustainable socio-economic development in the region.

The opening ceremony was attended by Prime Minister Sheikh Hasina, alongside Dr Bandar MH Hajjar, president of the IsDB Group.

Finance Minister Abul Maal Abdul Muhith attended a joint press conference with the IsDB president held at IDB Bhaban, Agargaon in the capital. Dr. Hayat Sindi, senior advisor to the IsDB president (Science, Technology and Innovation), was also present on the occasion.

The new IsDB Group Regional Hub in Dhaka will facilitate the bank’s numerous projects in the country, spanning: agriculture, education, energy, industry and mining, transport, water, sanitation, urban services and enhancing the capacity of the country’s public and private institutions.

Among the IsDB’s 57-member countries, Bangladesh is the largest beneficiary of financing, with the group’s total financing for the country to date in excess of US$21.7 billion.

To underline the IsDB’s support of innovative solutions towards development, the hub opening coincided with the second Transformers Roadshow - a science, technology and innovation competition which recognises ideas and concepts that support one or more of the UN’s Sustainable Development Goals.

The Roadshow is one of the initiatives lead by the Transform Fund set up to support the IsDB’s strategic focus on capacity building and human capital development.

The competition attracted more than a hundred entrepreneurs, scientists and innovators across Bangladesh, and was attended by Yeafesh Osman, Minister of Science and Technology.

Shortlisted teams presented their ideas to an esteemed judging panel led by Dr. Hayat Sindi. The winners of the competition were awarded $3,000 by PM Sheikh Hasina, and Dr. Bandar Hajjar yesterday.

Speaking on the occasion, Finance Minister Abul Maal Abdul Muhith said: “Over the years, the IsDB has gradually established itself as one of the leading multilateral development banks of the world. The bank has embraced new ideas, come up with innovative financial instruments and expanded its remit substantially.”

Commenting on the IsDB’s presence in the region, President of the IsDB, Dr. Bandar MH Hajjar said: “The IsDB has long held a close relationship with Bangladesh as it continues to move towards a prosperous future with a resolute commitment to the Sustainable Development Goals. Our Dhaka regional will focus on partnering with local stakeholders to drive the socio-economic development in the country and provide a platform for Bangladeshi people to build a prosperous future.”