Latest news with #SamiAl-Suwailem
Zawya
20-05-2025
- Business
- Zawya
Islamic Development Bank Institute releases 2024 Annual Report during IsDB Group Annual Meetings
Algiers, Algeria – The Islamic Development Bank Institute (IsDBI), the knowledge beacon of the IsDB Group, is pleased to announce the issuance of its 2024 Annual Report, officially released during the 2025 Annual Meetings in Algiers, Algeria. The Annual Report highlights the Institute's major contributions to the development of Islamic finance as a tool to foster sustainable economic progress of IsDB Member Countries and Muslim communities worldwide. Key highlights of the report include achievements in the main programs and significant progress of the Institute's flagship projects, which seek to leverage emerging technologies and Islamic finance to deliver solutions to the most pressing development challenges. The report details IsDBI's efforts in leading the transformation of the Islamic finance sector within the IsDB Special Allocation Program to Support Islamic Finance Industry. The Institute successfully approved 24 new technical assistance projects valued at US$4.17 million, the highest level since the inception of the Special Allocation Program in 2013. The Institute made significant progress in its projects integrating knowledge technologies with Islamic finance, including developing a functional demonstration of the Smart Stabilization System and transitioning the Islamic Finance Artificial Intelligence Assistant to a no-code platform. In the area of global outreach, IsDBI continued to strengthen its strategic partnerships with global and regional institutions, contributing to the delivery of major initiatives in knowledge creation and human capital development. Capacity building programs, through the multi-modal delivery of diverse training courses in Islamic finance, benefitted professionals and online learners from 130 countries. Feasibility studies were commissioned on the game-changing flagship projects, namely the Awqāf Free Zones, Smart Countertrade System and Digital Postal Islamic Financial Services. Th outcome of the studies will lead to pilots in partnership with the relevant Member Countries and industry players, before the subsequent full-scale implementation of the projects. On this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, expressed delight in the Institute's accomplishments and reaffirmed its commitment to the delivery of knowledge-based solutions to support the sustainable economic advancement of Member Countries and Muslim communities worldwide. The 2024 Annual Report is available on IsDBI website here: About the Islamic Development Bank Institute The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on
Zawya
01-05-2025
- Business
- Zawya
Islamic Development Bank Institute's Pioneering Smart Voucher System Receives Patent from United States (U.S.) Patent and Trademark Office
The Islamic Development Bank Institute (IsDBI) ( is delighted to announce that the United States Patent and Trademark Office (USPTO) has granted a patent for the Institute's groundbreaking solution, the Smart Voucher System. The Patent number 12282916 was granted on 22 April 2025. The Smart Voucher System is a blockchain-based solution designed to allow regulatory authorities to authorize selected service providers (e.g., privatized enterprises, schools, and hospitals) to provide goods or services to eligible beneficiaries. The voucher system is funded through sales tax proceeds to provide such goods and services to disadvantaged individuals, which makes the system serve as a tax-credit receipt and, subsequently, to support social impact financial instruments. The System integrates three critical functions: Financial inclusion: Enhancing access to financial tools for underserved people. Tax incentives: Facilitating tax obligations and promoting compliance through the use of vouchers. Resource mobilization: Securely allocating token-backed vouchers to support financial accessibility. The innovative integration of these key functions is unique to the Smart Voucher System. The System was originally designed and developed in 2018, based on which it was granted fintech patent number 10201908262Y by the Intellectual Property Office of Singapore (IPOS) in 2021. Both IPOS and USPTO are consistently ranked among the world's foremost intellectual property offices. In his comment on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: 'The issuance of this patent by the United States Patent and Trademark Office underscores the commitment of the Institute to creating pioneering fintech applications that drive inclusive social and economic development. We are working closely with our partners to capitalize on this and other patents to offer comprehensive development solutions to our Member Countries.' For more information about the Smart Voucher System, please contact Dr. Hilal Houssain (hhoussain@ Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI). About the Islamic Development Bank Institute: The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on
Zawya
01-05-2025
- Business
- Zawya
IsDBI's pioneering Smart Voucher system receives patent from U.S. Patent and Trademark Office
Jeddah, Kingdom of Saudi Arabia – The Islamic Development Bank Institute (IsDBI) is delighted to announce that the United States Patent and Trademark Office (USPTO) has granted a patent for the Institute's groundbreaking solution, the Smart Voucher System. The Patent number 12282916 was granted on 22 April 2025. The Smart Voucher System is a blockchain-based solution designed to allow regulatory authorities to authorize selected service providers (e.g., privatized enterprises, schools, and hospitals) to provide goods or services to eligible beneficiaries. The voucher system is funded through sales tax proceeds to provide such goods and services to disadvantaged individuals, which makes the system serve as a tax-credit receipt and, subsequently, to support social impact financial instruments. The System integrates three critical functions: Financial inclusion: Enhancing access to financial tools for underserved people. Tax incentives: Facilitating tax obligations and promoting compliance through the use of vouchers. Resource mobilization: Securely allocating token-backed vouchers to support financial accessibility. The innovative integration of these key functions is unique to the Smart Voucher System. The System was originally designed and developed in 2018, based on which it was granted fintech patent number 10201908262Y by the Intellectual Property Office of Singapore (IPOS) in 2021. Both IPOS and USPTO are consistently ranked among the world's foremost intellectual property offices. In his comment on this occasion, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: 'The issuance of this patent by the United States Patent and Trademark Office underscores the commitment of the Institute to creating pioneering fintech applications that drive inclusive social and economic development. We are working closely with our partners to capitalize on this and other patents to offer comprehensive development solutions to our Member Countries.' For more information about the Smart Voucher System, please contact Dr. Hilal Houssain (hhoussain@ About the Islamic Development Bank Institute The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on Social media handles: X (Twitter): Facebook: LinkedIn:
Zawya
30-01-2025
- Business
- Zawya
The Islamic Development Bank Institute (IsDBI) and Mohammed bin Salman (MBS) College Announce Strategic Partnership to Deliver Entrepreneurial Leadership Programs
The Islamic Development Bank Institute (IsDBI) ( and Prince Mohammed bin Salman College of Business&Entrepreneurship (MBSC) have signed agreements to foster entrepreneurial skills and leadership excellence in IsDB Member Countries and Muslim Communities. This collaboration aims to launch two innovative programs: the Entrepreneurial Mindset Development Program and the Strategic Business Leadership Program. These programs integrate Islamic finance values and instruments to foster economic growth in Member Countries. The programs will be hosted by MBSC and delivered jointly by both institutions. Dr. Sami Al-Suwailem, Acting Director General of IsDBI, and Dr. Zeger Degraeve, Dean of MBS College, signed the agreements during a ceremony at the IsDB Headquarters in Jeddah on 29 January 2025. The Entrepreneurial Mindset Development Program is designed to equip participants with the essential skills, knowledge, networks, values and training needed for successful entrepreneurial ventures. The Strategic Business Leadership Program aims to develop the key attributes of entrepreneurial success: personal attributes, including behavior, personality, and capabilities, as well as business attributes such as its structure, goals, and performance management. Both programs will include a series of interactive workshops, mentorship sessions, and real-world projects. Participants are expected to gain valuable insights into innovative thinking, business planning, and effective problem-solving. In his comments on this occasion, Dr. Sami Al-Suwailem said, 'We are very excited about the partnership with the MBS College. As the knowledge beacon of the IsDB Group, we hope that the joint programs with MBSC will create a new breed of business leaders and entrepreneurs who successfully capitalize on the principles of Islamic finance to stimulate economic progress in their communities. Human capital is our greatest resource, and it is important that we equip our youth with the right tools and skills to face the emerging challenges of the future.' Dr. Zeger Degraeve, Dean of MBSC, said, 'This partnership underscores MBSC's dedication to fostering entrepreneurial leaders who can contribute to Saudi Arabia's ambitious Vision 2030 and beyond. By integrating Islamic finance principles with practical business strategies, these programs will empower participants to address real-world challenges and drive sustainable economic and social value, both within the Kingdom and across IsDB Member Countries.' Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI). For more information about the two programs, please contact Yahya Rehman at yrehman@ About the Islamic Development Bank Institute: The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on About MBS College: Situated in King Abdullah Economic City, a contemporary urban centre that provides an unparalleled modern environment for both students and faculty. MBSC offers world-class education from Saudi Arabia for Saudi Arabia in both King Abdullah Economic City and Riyadh, delivering practical, pragmatic, hands-on experiential learning to develop a new generation of transformative leaders.
Zawya
30-01-2025
- Business
- Zawya
IsDBI and MBS College announce strategic partnership to deliver entrepreneurial leadership programs
Jeddah, Kingdom of Saudi Arabia – The Islamic Development Bank Institute (IsDBI) and Prince Mohammed bin Salman College of Business & Entrepreneurship (MBSC) have signed agreements to foster entrepreneurial skills and leadership excellence in IsDB Member Countries and Muslim Communities. This collaboration aims to launch two innovative programs: the Entrepreneurial Mindset Development Program and the Strategic Business Leadership Program. These programs integrate Islamic finance values and instruments to foster economic growth in Member Countries. The programs will be hosted by MBSC and delivered jointly by both institutions. Dr. Sami Al-Suwailem, Acting Director General of IsDBI, and Dr. Zeger Degraeve, Dean of MBS College, signed the agreements during a ceremony at the IsDB Headquarters in Jeddah on 29 January 2025. The Entrepreneurial Mindset Development Program is designed to equip participants with the essential skills, knowledge, networks, values and training needed for successful entrepreneurial ventures. The Strategic Business Leadership Program aims to develop the key attributes of entrepreneurial success: personal attributes, including behavior, personality, and capabilities, as well as business attributes such as its structure, goals, and performance management. Both programs will include a series of interactive workshops, mentorship sessions, and real-world projects. Participants are expected to gain valuable insights into innovative thinking, business planning, and effective problem-solving. In his comments on this occasion, Dr. Sami Al-Suwailem said, 'We are very excited about the partnership with the MBS College. As the knowledge beacon of the IsDB Group, we hope that the joint programs with MBSC will create a new breed of business leaders and entrepreneurs who successfully capitalize on the principles of Islamic finance to stimulate economic progress in their communities. Human capital is our greatest resource, and it is important that we equip our youth with the right tools and skills to face the emerging challenges of the future.' Dr. Zeger Degraeve, Dean of MBSC, said, 'This partnership underscores MBSC's dedication to fostering entrepreneurial leaders who can contribute to Saudi Arabia's ambitious Vision 2030 and beyond. By integrating Islamic finance principles with practical business strategies, these programs will empower participants to address real-world challenges and drive sustainable economic and social value, both within the Kingdom and across IsDB Member Countries.' For more information about the two programs, please contact Yahya Rehman at yrehman@ About the Islamic Development Bank Institute The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on About MBS College Situated in King Abdullah Economic City, a contemporary urban centre that provides an unparalleled modern environment for both students and faculty. MBSC offers world-class education from Saudi Arabia for Saudi Arabia in both King Abdullah Economic City and Riyadh, delivering practical, pragmatic, hands-on experiential learning to develop a new generation of transformative leaders.
