This year, the Islamic Development Bank (IsDB) Group conducted the 12th Private Sector Forum in Riyadh, Saudi Arabia, with over 2,000 participants from 83 countries.
The three-day forum, which began on Sunday, also featured over 60 speakers across 17 sessions and 32 exhibitors.
The occasion saw the signing of 53 deals totaling around $6.5 billion.
At the closing ceremony, Oussama Kaissi, CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), stated that the conference has provided an important venue for his organization to examine novel ideas that combine the trade, insurance, and investment sectors.
“This year’s forum has been instrumental in facilitating a valuable exchange of knowledge among leading experts and stakeholders,” he said.
Hani Salem Sonbol, acting CEO of The Islamic Corporation for the Development of the Private Sector (ICD) and CEO of the International Islamic Trade Finance Corporation (ITFC), emphasized the importance of the private sector as a key driver of economic growth, job creation, and poverty reduction in member countries.
“The ICD has been instrumental in this effort, having disbursed more than $4.5 billion to unlock private sector investment in finance, infrastructure, agriculture, manufacturing, and energy for sustainable development since its inception in 1999,” he went on to say.
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