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To provide strategic direction, motivational leadership and operational oversight for the Cooperation and Integration Department. Determine the strategy for the Department, set and deliver ambitious objectives that enable IDB to achieve its goals, and take the significant operational decisions.
To actively promote and enhance cooperation between OIC Member Countries and collaborates with OIC and its Standing Committees, Specialized and Affiliated Institutions on behalf of the IDB Group on matters related to cooperation and coordination between Member countries.

The Islamic Corporation for the Development of the Private Sector gave start to a fund aiming to finance renewable- energy projects in Central Asia and plans another in Africa. The fund is worth $35 million and is situated in Kazakhstan. In the very near future the North Africa fund containing $35 million to $50 million is to be opened. Financing for renewables ventures is targeting emerging markets due to the governments' striving to curb reliance on fuel imports and cash-strapped nations in Europe cut subsidies for clean power.

The Young Professionals Program (YPP) is the strategic talent pipeline for the professional career in the Islamic Development Bank (IDB) Group. The Program is designed for outstanding young graduates who can significantly help the IDB Group to carry out its mission and attain its objectives.

This Program enables each Young Professional (YP) to receive extensive exposure and experience of the IDB Group’s various activities through job rotations in different departments. Participants will initially spend two weeks Orientation stage in HRMD. Then, 27 months in Foundation stage which will be split into three rotations of 9 months each in IDB Group departments.

Participants will also benefit from a coaching/mentoring arrangement and a wide range of relevant training and developmental opportunities.

Upon successful program completion, the participant will gradually climb up the professional grades in the IDB Group.

Closing Date: 31-Dec-2012

The Islamic Development Bank (IDB) is looking for new investments for farming projects in Kazakhstan through its $600 million agribusiness fund. Gulf countries offer capital but they do not have agricultural resources, while there are countries like Kazakhstan, which - on the contrary - have the resources but not the capital, said the chief executive of IDB. There are also opportunities in the sector of renewable energy, which is why IDB considers new investments into solar and wind projects that is not paid enough attention to.

See more under: http://www.cpifinancial.net/news/post/15954/idb-launches-renewable-energ...

The Islamic Development Bank (IDB) plans to set up first Islamic company in Kazakhstan in 2013. The object of business shall be: renewable energy and agricultural projects. The reason for that is the lack of agricultural resources in Gulf countries. On the contrary, countries in Central Asia and Africa have the resources but not the capital, which is why IDB considers opportunities for Islamic banking in Kazakhstan, which has a resource-driven economy that is the largest in Central Asia.

See more under: http://www.reuters.com/article/2012/10/01/islamic-finance-kazakhstan-idU...

CALL FOR PAPERS - Islamic capital markets, Deadline: Submission of Abstract: March 15, 2012
Islamic Research and Training Istitute – Islamic Development Bank, Jeddah, Saudi Arabia

Islamic capital markets are to become an important part of the Islamic financial system. While new products are steadily coming into the market and the Islamic investment instrument are growing, Islamic capital markets still constitute a very small niche. For a discernible impact on the investment promotion, market stability, and equitable socio-economic development there is a growing need to accelerate the process of product development, to create conducive regulatory environment and to improve the market practices. This task requires development of new human capital and knowledge base.

With this larger objective, the immediate focus of this conference is on three issues:
• Design and use of Islamic financial products for Islamic capital markets.
• Identification of the needs for and the implications of market regulations for development of Islamic capital market.

According to Minister of State for Finance, Alhaji Yerima Ngama, discussions reached advanced stage between the federal government and the Islamic Development Bank (IDB) to secure a $600 million-loan for infrastructure development in the country.
He added that the loan which is on a three to four-year borrowing plan without interest had already passed the screening stages and would soon be made available for federal and state government projects, but there were some criteria yet to be satisfied by government before it could get the funding.
For example, he said some of the projects which funding was being sought for have not actually begun. Therefor, he noted that there was need to apply for funds ahead of time.

The 25th Board of Directors meeting of the International Islamic Financial Market (IIFM) took place on December 11 at Islamic Development Bank (IDB) offices in Jeddah. Present at the meeting were senior representatives from IDB, Central Bank of Bahrain, Central Bank of Sudan, Autoriti Monetari Brunei Darussalam, Labuan Financial Services Authority (Malaysia), Bank Indonesia, State Bank of Pakistan, ABC Islamic Bank - Bahrain, Bank Islam Malaysia Berhad, Kuwait Finance House-Bahrain.
Mr. Khalid Hamad Abdul Rahman Hamad, Executive Director-Banking Supervision, Central Bank of Bahrain & Chairman of IIFM, welcomed the Board members and thanked them for their foresightedness and guidance which has been influential in IIFM’s focus on standardized documentation & products for the Islamic Capital & Money Market.

Islamic Development Bank affiliate the Islamic Corporation for the Development of the Private Sector is helping to conduct a much needed Takaful offering to Azerbaijan through the development of a new Takaful company.
In order to manage this, ICD has included a local private partner for the first time in the form of Amrah Bank, Azerbaijan’s fifth largest bank.

Bank Asya is arranging a small acquisition of between $10-20 million in a Balkan country in partnership with the Islamic Development Bank.
hief Executive Abdullah Celik stated that Bank Asya itself was always drawing attention of bid offers but these were well below the bank's potential.

TV journalist Riz Khan has revealed the role of the Islamic Development Bank in mobilizing local talent and resources to boost the development of member countries. He added that the bank should present itself in a better light so that people would appreciate its activities in order to give people a better perspective about what IDB is doing.

Saudi-based Islamic Development Bank (IDB) has announced that it has allocated $2.5bn for development projects in Egypt over the next three years to support its economy.

Islamic Development Bank has selected the following four nongovernmental organisations to implement the $130 million (more than Tk 900 crore) Fael Khair programme for victims of Cyclone Sidr: Islami Bank Foundation, Muslim Aid, Voluntary Organisation for Social Development (VOSD) and BRAC.
IDB President Ahmad Mohamed Ali stated that the aim is the construction of several hundred school-cum-cyclone shelters in the coastal belt and provision of urgent relief in the form of agro inputs to the victims.

CapAsia is going to provide $20.5m of equity capital to finance two wind farms in Pakistan. The firm made the investment through its Islamic Infrastructure Fund (IIF), a $262m vehicle sponsored by the Asian Development Bank and the Islamic Development Bank.

Filipino finance secretary, Cesar Purisima, is touting Islamic microfinance in the Muslim majority state of Mindanao as a way of alleviating poverty and increasing social cohesion. Pursima was speaking to local press as the Filipino government starts talks with the Islamic Development Bank in Manila.

The International Islamic Liquidity Management Corporation (IILM) is expected to issue the first Shariah-compliant financial instruments by year-end.
The minimum size of the instruments could be US$300 million depending on the market demand.
The IILM was established on October 2010 with 14 founding shareholders, comprising the 12 central banks of Indonesia, Iran, Kuwait, Luxembourg, Malaysia,Mauritius, Nigeria, Qatar, Saudi Arabia, Sudan, Turkey, and the United Arab Emirates (UAE), as well as two multi-lateral institutions, the Islamic Development Bank and the Islamic Corporation for the Development of the Private Sector.

Al Amal Microfinance Bank of Yemen has been awarded US$104,000 under the Islamic Microfinance Challenge 2010, a partnership launched to encourage the reach of Islamic financial services to micro-entrepreneurs.
CGAP, Deutsche Bank, Grameen-Jameel Pan Arab Microfinance, and Islamic Development Bank partnered to sponsor this global competition to uncover viable business models that provide microfinance products compatible with Islamic law, or Shariah.

Kuwait's indebted The Investment Dar Company held its first face-to-face meeting with the reconstituted Coordinating Committee last Thursday in Dubai.
At the meeting, the documentation relating to the official engagement of the committee was finalised, it said, and added that committee membership now includes Jordan International Bank, ABC Islamic Bank, Lloyds TSB Middle East, Al Rajhi Bank, the Islamic Development Bank, Bank of Bahrain and Kuwait.

The following borrowers are expected to sell Islamic bonds: MALAYSIA, YEMEN, DUBAI, GULF INVESTMENT CORP., FRANCE, SAUDI INTERNATIONAL PETROCHEMICAL CO., GENERAL ELECTRIC CO., PALESTINE MONETARY AUTHORITY, NAKHEEL PJSC, SABAH CREDIT CORP., CREDIT AGRICOLE SA, NOOR ISLAMIC BANK, NATIONAL COMMERCIAL BANK, KPJ HEALTHCARE BHD., EMIRATES TELECOMMUNICATIONS CORP., SENEGAL, ALBARAKA BANKING GROUP., ISLAMIC DEVELOPMENT BANK, THAILAND, KNM GROUP BHD., CAGAMAS BHD., SAUDI ARABIAN OIL CO., GAMUDA BHD., EGYPT, PT BANK MUAMALAT INDONESIA, SENAI-DESARU EXPRESSWAY BHD., MALAYSIA DEBT VENTURES BHD, INDONESIA, TURKEY, KAZAKHSTAN, PHILIPPINES, SAUDI ELECTRICITY CO., EMIRATES INTEGRATED TELECOMMUNICATIONS CO., LAFARGE MALAYAN CEMENT BHD..

CIMB Group Holdings Bhd. is seeking to boost its business in the Persian Gulf to fight off HSBC Holdings Plc’s challenge to its dominance.
CIMB’s only Persian Gulf deal this year was a $125 million sale in October for a unit of Saudi Arabia’s Islamic Development Bank.