Date: Friday, January 10, 2025
Category: Economy
Algiers – Algeria’s Minister of Finance, Laaziz Faïd, is participating in a consultative forum on the future strategic framework of the Islamic Development Bank (IsDB) Group in Medina, Saudi Arabia, from January 10 to 13. He attends in his capacity as Chairman of the IsDB Group Board of Governors, according to a statement from the Ministry of Finance issued on Friday.
The ministry’s statement noted, “This forum marks the conclusion of the current strategic cycle of the Islamic Development Bank and aims to explore frameworks for a new strategic planning path for the period 2026–2035, addressing the present and future aspirations of the member countries.”
Inspired by a roundtable model for governors, the forum provides “a high-level platform for consultations, exchanging perspectives, and proposing ideas to enrich the planning process for the bank’s future direction.”
As Chair of the Board of Governors, Minister Faïd will lead the forum’s proceedings and present Algeria’s vision and stance on the bank’s proposed strategic approach for the coming decade. He will advocate for policies aimed at responding to member countries’ aspirations, fostering socio-economic development, promoting economic diversification, enhancing resilience to external challenges, and strengthening integration to achieve sustainable and inclusive growth, according to the statement.
On the sidelines of the forum, Minister Faïd will sign a memorandum of understanding with the President of the IsDB Group to formalize Algeria’s hosting of the 2025 Annual Meetings of the Group’s Boards. The event is scheduled to take place in Algiers from May 19 to 22.
The minister will also seize this opportunity to extend an official invitation to 56 governors representing the member countries of the IsDB Group to attend these meetings, the ministry concluded.
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Author: Nor-Eleslam
