Dato’ Dr Azmi Omar appointed to the Islamic Development Bank President’s International Advisory Panel

KUALA LUMPUR, 7 Nov 2024 – INCEIF University is pleased to announce the appointment of its President & CEO Professor Emeritus Dato’ Dr Azmi Omar on the IsDB (Islamic Development Bank) President’s International Advisory Panel (PIAP), in acknowledgement of his work on Islamic finance.

The appointment is also in view of Dato’ Azmi’s “deep understanding of Islamic finance’s potential, and knowledge of the development hopes and challenges in our member countries,” IsDB Group Chairman Dr Muhammad Al Jasser said in the appointment letter.

The PIAP comprises high-level external advisers who will provide insights and guidance to the IsDB Group Chairman on the Group’s strategic vision and corporate strategies and ensure high-quality and robust output.  Dato’ Azmi holds the distinction of being the only Malaysian on the panel of five personalities from diverse backgrounds who are expected to act in their individual capacity.

The other eminent persons in the panel are as follows:

  1. Professor Carlos Lopes, Nelson Mandela School of Public Governance at University of Cape Town, South Africa and Visiting Professor at Sciences Po, Paris
  2. Dr Frannie Léautier, Senior Partner and CEO of SouthBridge Investment, Rwanda
  3. Dr Mahmoud Mohieldin, Executive Director, International Monetary Fund
  4. Dr Majid A. Al-Moneef, Advisor to the Royal Court of the Kingdom of Saudi Arabia

In April 2024, IsDB celebrated its 50th Anniversary as a Multilateral Development Bank, working to improve the lives of those it serves by promoting socio-economic development in its 57-member countries, including Malaysia and Muslim communities worldwide. During the Golden Jubilee celebrations, IsDB Group Chairman Dr Muhammad Al Jasser launched a new strategic planning cycle for the IsDB Group, as the current strategic framework and corporate strategy ends in 2025.

The new strategic planning adopts a two-pronged approach consisting of a ten-year strategic framework (2026-2035) that sets out the Group’s long-term strategy and two consecutive five-year corporate strategies to operationalise the framework by breaking it down into actionable and measurable five-year plans with specific financial, operational, and organisational implications. The PIAP is tasked with supporting the exercise.

In a statement, Dato’ Azmi said: “I am deeply honoured to be appointed to the IsDB President’s International Advisory Panel (PIAP), and I look forward to leveraging Malaysia’s experience in Islamic finance to contribute to the strategic vision of the IsDB Group. As a global leader in Islamic finance, Malaysia has long been a proponent of innovative financial solutions to balance economic growth with social equity. Drawing from this experience, I hope to offer valuable insights that will help shape IsDB’s efforts to foster sustainable development and financial inclusion across its member countries.

Being the only Malaysian on this distinguished panel is both a privilege and responsibility. Malaysia’s journey to develop a resilient and globally recognised Islamic financial system can serve as a model for many emerging economies. I am excited to collaborate with other esteemed members of the panel to explore new avenues for Islamic finance to drive inclusive growth, address global challenges, and contribute to the socio-economic well-being of the wider Muslim world, ” Dato’ Azmi added.

Prior to his current position at INCEIF, Dato’ Azmi was the Director-General of IsDB’s Islamic Research and Training Institute (IRTI), now known as the IsDB Institute, in Jeddah, Kingdom of Saudi Arabia. At IRTI, he pioneered and introduced innovative policy research which culminated in flagship reports such as the IRTI Islamic Social Finance Report and the IsDB World Bank Global Report on Islamic Finance. He also provided technical support to several IsDB member countries for implementing Islamic finance. He was awarded “The Most Outstanding Individual Contribution to Islamic Finance” at the KLIFF Islamic Finance Awards 2015 and “Lifetime Achievement Award in Islamic Economics and Finance” at the 3rd World Islamic Economics and Finance Conference in Pakistan in 2020. The consulting projects included the development of the Indonesia Shari’ah Economy Masterplan 2019-2024 for the government of Indonesia and the Kazakhstan Islamic Finance Masterplan 2020-2025 for the Astana International Financial Center (AIFC) and the Republic of Kazakhstan.

 

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