Category: Islamic Finance

“The canary did not warn miners about the coal. It warned them about the air they were breathing.” For generations, miners carried canaries underground because birds would show signs of distress from toxic gases before the danger became apparent to humans. In this article, climate finance plays a similar role, its persistent difficulties are an …

Islamic finance assets now stand at USD 4.4 trillion, yet micro, small, and medium enterprises (MSMEs) in emerging and developing economies still face an estimated financing gap of USD 5.7 trillion. This raises a question: How can an Islamic finance system built on risk-sharing, asset backing, ethical investment, and social justice play a positive role in financial …

Text of the recorded remarks by Prof. Bambang Brodjonegoro, Dean and CEO, Asian Development Bank, for the Panel Session on Development Traps and Islamic Finance, during the 20th IsDB Global Forum on Islamic Finance, 17 June 2026 It is a true honor to address this forum, even if only by video. I extend my sincere …

Keynote speech delivered by Engr. Adeeb Yousuf Al Aama, Chief Executive Officer, International Islamic Trade Finance Corporation (ITFC), during the 20th IsDB Global Forum on Islamic Finance, in Baku, Azerbaijan, on 17 June 2026 It is both an honour and a privilege to address you today at the 20th IsDB Global Forum on Islamic Finance, …

Nobel laureate Joseph Stiglitz once remarked that debt financing without bankruptcy is like Hamlet without the Prince. Or, to borrow from our culture, it is like Qais without Laila! Bankruptcy is not a minor footnote in the story of modern finance — it is a central character in debt financing, shaping incentives, costs, and risks for both private and public …

Introduction The Islamic Development Bank Institute (IsDBI) celebrates the first year of the International Journal of Islamic Finance and Sustainable Development (IJIFSD), launched in September 2024 in collaboration with the International Center for Education in Islamic Finance (INCEIF) University, Malaysia. IJIFSD builds on the International Shari’ah Research Academy (ISRA) International Journal of Islamic Finance (IJIF), …

At a recent meeting of the Islamic Development Bank (IsDB) in Algiers, I had the wonderful opportunity to meet Dr. Sami Al-Suwailem, who is the current Acting Director General of the IsDB Institute. Among other matters related to the World Zakah and Waqf Forum, I had the opportunity to relate my connection with IsDB/IsDBI. He …

Introduction For decades, the mounting debt burdens of developing countries were often a “silent crisis” — a growing yet largely overlooked threat undermining economic stability and long-term development. Today, this silence has been shattered. The escalating costs of debt servicing, coupled with shrinking fiscal space and limited access to affordable financing, are pushing many nations …

“Iqtiṣād”(1908–1913), the First Islamic Economics Magazine: A Rediscovered Legacy of the Tatar Muslims Senior Islamic Finance Specialist, IsDB Institute 1. Introduction The development of Islamic finance in Russia is often viewed through weak contemporary initiatives and shy legal reforms. Yet, its foundations trace back to earlier intellectual and institutional efforts by Muslim Tatar scholars during …

Once upon a time, an elderly master and his apprentices dedicated themselves to mastering the ancient art of “dragon slaying” at their academy. One fateful day, a dreadful monster descended upon their land, terrorizing the helpless villagers, setting their homes ablaze, and devouring their grazing cattle. The people named this fearsome beast “the dragon.”Summoned by …