Islamic Development Bank wants entrepreneurial leaders nurtured

Islamic Development Bank wants entrepreneurial leaders nurtured

Riyadh. The Islamic Development Bank (IsDB) has called for the need to nurture entrepreneurial leaders to help propel the world towards a future rooted in ethical principles and sustainable development.

The bank made the call during the 18th Global Islamic Finance Forum recently held in Riyadh, Kingdom of Saudi Arabia.

The forum attracted an array of thought leaders, policymakers, financial experts, and major stakeholders in the Islamic finance industry.

It was also held on the sidelines of the IsDB Group Annual Meetings and Golden Jubilee Celebration, themed: Innovation, Entrepreneurship, and Leadership in Islamic Finance.

In his opening remarks, IsDB President Dr Muhammad Al-Jasser highlighted the impact of entrepreneurship on both individual and global economies.

He cited examples of enterprises that have created immense value for people worldwide, such as Alibaba, Alphabet, Amazon, Apple, Microsoft, Nvidia, and Tesla.

“The combined current market value of these companies is almost $12 trillion, which exceeds the 2023 economic output of the UK, France, and Russia combined,” he said.

He also pointed out the disparity in new business creation rates between high-income and low-income economies and stressed the need to address the existing gap by fostering a conducive environment that supports, and nurtures entrepreneurship.

Dr Al-Jasser suggested that initiatives such as microfinance, tailored to comply with Islamic financial principles, could be pivotal in this respect.

He also linked the spirit of entrepreneurship to the realm of Islamic finance, noting that Prophet Muhammad (SWA) himself was a successful entrepreneur, embodying the qualities of trustworthiness, risk-sharing, and a commitment to the betterment of society.

“When financial institutions are grounded in these principles, they can effectively promote ventures that contribute to sustainable growth and empower potential entrepreneurs,” he added.

The forum went concurrently with the issuance of the 2023 Annual Report and showcased its activities and accomplishments in Islamic finance transformation and creative solutions for sustainable development.

The report covers the Institute’s accomplishments in key functional areas that include leading the Islamic finance sector’s transformation and synergizing knowledge technologies with Islamic finance.

Others are building human capital in Islamic finance and development and publishing in Islamic economics and finance.

“Further, the report documents the institute’s leadership role in developing Islamic finance ecosystems globally through the Islamic finance grants programme, under which 14 new projects worth about $2.3 million were approved in 2023,” reads another statement to this newspaper.

According to the document, the report highlights the institute’s flagship projects that leverage Islamic finance and technology to create strategic and holistic solutions for development challenges.

“These are Awqaf-free zones, the OIC smart countertrade system, the digital postal Islamic financial services project, and the Islamic finance sector mapping framework,” reads another part.

In the area of fostering the development of human capital, the report showcases the accomplishments in the delivery of training programmes and e-learning courses that have benefited thousands of professionals around the world.

The report documents the Institute’s work in developing fintech solutions to address challenges facing IsDB member countries.

These include the smart stabilisation system, the Islamic finance artificial intelligence assistant, and the Islamic finance pavilion marketplace.

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Tanzania Declares Marburg Outbreak – Africa CDC Mobilizes Immediate Response
Tanzania Foreign Investment News
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Tanzania Declares Marburg Outbreak – Africa CDC Mobilizes Immediate Response

Tanzania Declares Marburg Outbreak – Africa CDC Mobilizes Immediate Response

Addis Ababa, January 20, 2025</Strong> — Tanzania has declared a Marburg virus disease (MVD) outbreak after confirming one case and identifying 25 suspected cases in the Kagera Region of Northwestern Tanzania. The Marburg virus, a highly infectious and often fatal disease, is similar to Ebola and is transmitted to humans from fruit bats and monkeys. This outbreak marks the nation’s second encounter with the deadly virus, following the outbreak in Bukoba District of Kagera Region in March 2023, which resulted in nine cases and six deaths.

In response to this urgent threat, the Africa CDC is mobilizing strong support to help Tanzania contain the outbreak. A team of twelve public health experts will be deployed as part of an advance mission in the next 24 hours. The multidisciplinary team includes epidemiologists, risk communication, infection prevention and control (IPC), and laboratory experts to provide on-ground support for surveillance, IPC, diagnostics, and community engagement.

The Director-General of Africa CDC, Dr. Jean Kaseya, has engaged with Tanzania’s President Samia Suluhu Hassan and the Minister of Health to ensure coordinated efforts and secure political commitment for the response.

“Africa CDC stands firmly with Tanzania in this critical moment. To support the government’s efforts, we are committing US$ 2 million to bolster immediate response measures, including deploying public health experts, strengthening diagnostics, and enhancing case management. Building on Tanzania’s commendable response during the 2023 outbreak, we are confident that swift and decisive action, combined with our support and those of other partners, will bring this outbreak under control,” Dr. Kaseya stated.

Africa CDC has recently supported efforts to enhance the diagnostic and sequencing capacity of public health laboratories in Tanzania. PCR Test kits and genomic sequencing reagents have been dispatched, with additional supplies in the pipeline. To ensure rapid identification and confirmation of cases, the institution will also provide technical assistance to strengthen detection and genome sequencing for better characterization of the pathogen. Additionally, support will be provided to improve case management protocols and enhance the capacity to deliver safe and effective treatment.

Africa CDC is committed to working closely with the Government of Tanzania, regional partners, international organizations, and global stakeholders, including the World Health Organization, to stop the spread of the Marburg virus.

Source: allafrica.com

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