IsDB Group and IFSB sign a framework tying standard-setting to development finance

The Islamic Development Bank Group and the Islamic Financial Services Board formalised a Strategic Collaboration Framework in Bangkok on 13 October 2026, on the sidelines of the IMF and World Bank Group Annual Meetings. It was signed by IsDB Vice President of Operations Dr. Rami Ahmad and IFSB Secretary-General Dr. Ghiath Shabsigh, with IsDB Group Chairman Dr. Muhammad Al Jasser attending. The framework aims to align standard-setting, implementation, technical advice and development financing across member countries, through a multi-year work programme of capacity building and technical assistance, research on emerging risks and opportunities, and dissemination of best practice. Shabsigh's point was that standards only have real impact when countries have the capacity and institutional strength to apply them. The announcement discloses no financial amounts. Why it matters: Islamic finance has long had its rulebook; the harder institutional task is giving member states the capability to apply it, and this framework pairs the two.

This is a QeRN summary by Ahmed Qerni. Read the original at Islamic Development Bank: https://www.isdb.org/news/isdb-group-and-ifsb-formalise-framework-to-advance-development-finance-with-prudential-standards.