GIFIIP held the 2nd Executive Council Meeting of 2022

11 October 2022, Istanbul – The Executive Council (EC) of the Global Islamic Finance and Impact Investing Platform (GIFIIP) held its second meeting of 2022 in a hybrid modality.

GlFIIP is a joint initiative of the Islamic Development Bank (IsDB), represented by the IsDB Institute, and United Nations Development Programme Istanbul International Center for Private Sector in Development (UNDP ICPSD), established in 2016 to position Islamic finance and impact investing as leading enablers for financing global SDG implementation.

On 22 July 2022, UNDP IICPSD and IsDB signed the Grant Agreement concerning Technical Assistance to Implement Initiatives of GIFIIP (TA), which consists of four components: green Sukuk issuances, digital solutions for financial inclusion, capacity-building on Islamic finance and impact investing, and the GIFIIP communication strategy. The EC meeting was chaired by Dr. Gülçin Salıngan, Deputy Director of UNDP ICPSD and attended by Mr. Yahya Aleem Ur Rehman, Global Lead Islamic Finance Advisory at the Islamic Development Bank Institute (IsDBI), Mr. Syed Faiq Najeeb, Senior Islamic Finance Specialist at IsDBI, and UNDP IICPSD’s Islamic Finance team.

The meeting focused on the scope of the activities, work plan, roles, and responsibilities of GIFIIP’s partners, as well as future activities to be conducted under the GIFIIP TA.  

Discussions about the GIFIIP workplan focused on the facilitation of green Sukuk issuances in OIC member countries, promoting financial inclusion through digital solutions, conducting capacity-building activities to expand impact investment through Islamic finance, and matchmaking between investors and impact-creating enterprises. The EC also discussed other potential areas of collaboration (i.e. Islamic microfinance, takaful (Islamic insurance), and awareness and capacity-building activities) between UNDP and IsDBI and IsDB member institutions.

The GIFIIP EC is held twice a year to review progress and discuss future initiatives under the Platform.

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