EDB’s Nikolai Podguzov Delivers Keynote at the Opening Ceremony of IsDB’s 19th Global Forum on Islamic Finance
Algiers, Algeria, 21 May 2025. – The Eurasian Development Bank (EDB) played a prominent role at the 19th Global Forum on Islamic Finance, held during the Islamic Development Bank (IsDB) Group Annual Meetings in Algiers. Under the theme “Digital Transformation and Financial Inclusion in Islamic Finance,” the event gathered global thought leaders, policymakers, development experts, and industry stakeholders to explore innovative strategies for advancing sustainable development through Islamic finance.
The forum’s opening session featured addresses by high-level representatives, including Nikolai Podguzov, Chairman of the Eurasian Development Bank, alongside Dr. Muhammad Al Jasser, Chairman of the IsDB Group; Salah Eddine Taleb, Governor of the Bank of Algeria; and Dr. Noureddine Ouadah, Algerian Minister of Knowledge Economy, Startups and Micro Enterprises.
Nikolai Podguzov, Chairman of the Eurasian Development Bank, said: “Central Asia is on the path of economic growth and inclusivity, where digital Islamic finance will play a key role. By leveraging technology, we can empower rural entrepreneurs, expand trade ties, and attract ethical investments. We are excited to share our views and goals for Central Asia at this forum and we will gladly continue developing our region together with our partners at the Islamic Development Bank”.
H.E. Dr. Muhammad Al Jasser emphasized that the integration of Islamic finance into the digital economy holds tremendous promises and can open new horizons to financial inclusion. “To realize this potential, we must build the foundations: secure and reliable digital infrastructure, responsive governance frameworks, and institutions prepared to regulate with wisdom and foresight,” he stated.
A key highlight of the forum was the unveiling of a major report “The Future of Islamic Finance in Central Asia” – a collaborative publication by the IsDB Institute, the EDB and the London Stock Exchange Group (LSEG), which underscores the growing role of Islamic finance in the region and outlines strategic recommendations for its expansion.
The EDB’s participation at this high-profile forum reaffirms its commitment to fostering financial innovation and regional development in partnership with leading institutions like the IsDB.
Additional information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By 2025, the EDB’s cumulative portfolio comprised 305 projects with a total investment of US $16.5 billion. The Bank's portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.
The Islamic Development Bank is a multilateral development finance institution that is focused on Islamic finance for infrastructure development and located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia.
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