Organisation of Islamic Cooperation
The Collective Voice of The Muslim World
Date: 10/06/2015
Bismillahir Rahmanir Rahim Your Excellency Adriano Afonso Maleiane, Minister of Economy and Finance of the Republic of Mozambique and Chairman of the 40th Annual Meeting of the Board of Governors of the IDB, Honourable Governors, Your Excellency Dr. Ahmad Mohamed Ali Al Madani, President of the IDB Group, and Ladies and Gentlemen, Assalamu Alaykum wa-Rrahmatullahi wa-Barakatuhu It is indeed a great honour and privilege for me to address the 40th Annual Meeting of the Islamic Development Bank (IDB) Group, which is holding in Maputo, Republic of Mozambique. Permit me, at the outset, to congratulate the President, the Government and people of Mozambique for hosting this important meeting and for the excellent arrangements made to ensure its success. I would also like to congratulate members of this Board under the chairmanship of H.E. Mr. Adriano Afonso Maleiane, Minister of Economy and Finance of the Republic of Mozambique as well as the IDB management under the able leadership of H.E. Dr. Ahmad Mohamed Ali, President of IDB Group, for ensuring the continued relevance of the Bank to the socio-economic aspirations of our member states. The effectiveness of the Bank’s activities has always manifested in its triple ‘A’ ratings by renowned international agencies over the years. Mr. Chairman, Distinguished Board Members, In my statement during the 39th Annual Meeting of the Board, which was held in Jeddah, Saudi Arabia on 24-25 June 2014, I underscored the importance of synergy and coordination among the various executive organs of our Organisation in order to ensure speedy and effective implementation of the resolutions and decisions of the Organisation of Islamic Cooperation. I am, therefore, glad to report to this meeting the progress on our joint efforts in addressing the various developmental challenges facing our countries, chief among which are poverty alleviation, financial exclusion, inadequate social and physical infrastructures, low capacity utilization, and increasing man-made and natural disasters. In specific terms, the close collaboration between the General Secretariat of the OIC and the management of the IDB Group have resulted in the successful convening of the First Investment Forum on Central Asia held in Dushanbe, Tajikistan on 27-28 October 2014, during which a number of projects were identified, including the flagship hydro-energy transmission project, popularly known as CASA-1000. There is no doubt that the outcome of the Forum on the need to hold investment forums in Central Asia on biennial basis will increase our achievement under the OIC Plan of Action for Cooperation with Central Asia, to which IDB is an effective collaborator. The foregoing regional programme is anchored on the current policy of OIC to fast-track its integration efforts through promoting cross-border projects as a means of fostering people-to-people relations and enhancing confidence building measures among OIC Member States. In this regard, the implementation of the OIC trade policy on achieving 20% of intra-OIC trade in 2015 has received the greater support of the IDB Group through its various programmes on trade financing, agricultural investment, microfinance support and OIC Cotton Action Plan, among others. It is encouraging to note that the various interventions of IDB Group in the area of trade financing, which exceeded US$49 billion cumulatively in 2013, has contributed to the steady increase in intra-OIC trade from 18.45 % in 2012 to 18.70% in 2013. On the social and humanitarian plane, our collaborative actions have resulted in the resolution of the lingering management problem associated with the OIC Orphanage Project in Banda Aceh, Indonesia, as well as other recent emergency response actions in Syria, Yemen, Central African Republic, and the Philippines. This is in addition to our joint programmes on the preparation of the Atlas of Islamic World Science and Innovation, OIC Green Technology Blueprint, and Ebola Response Programme. Mr. Chairman, Distinguished Board Members, As we strive to scale up our partnership in the various spheres in the coming year, permit me to apprise this meeting of the outcome of the 42nd Council of Foreign Ministers (CFM) of our Organisation, which concluded its proceedings in Kuwait on 28 May 2015. In addition to the above mentioned projects, it would be greatly appreciated if this august meeting could support the implementation of the various resolutions of 42nd CFM. The first among these resolutions is the mobilization of additional resources for the Islamic Solidarity Bank for Development (ISFD). The Council of Foreign Ministers has requested the convening of a special session during the next Council of Foreign Ministers, scheduled for Tashkent, Uzbekistan in 2016 to mobilize additional resources for the ISFD to enable it expand its pro-poor activities in the identified priority sectors of microfinance support, food security, and vocational training. The second issue is the elaboration of a successor programme to the Special Programme for Development of Africa (SPDA) as a way of consolidating on the gains realized under the first SPDA. The Council has accordingly resolved that the convening of two sub-regional workshops during the coming year will facilitate an inclusive, but member-driven, development blueprint. In the third place, the proposed convening of OIC Stakeholders Forum on Unified Halal Food Standards and Procedures, is considered as crucial in creating a binding OIC Halal Food Standard, including an OIC wide consensus on harmonized accreditation and certification procedures. Such a regulatory environment is most needed in the current stage for the purpose of streamlining the activities of the certification centers in respect of Halal Food and products. The other issues that require your esteemed concurrence include the execution of Dakar-Bamako-Sikasso-Bobo-Dioulasso railway segment of the OIC Dakar-Port Sudan Railway Project, in partnership with the African Union and West African Economic and Monetary Union (UEMOA); the convening of a Workshop of Microfinance institutions of OIC member states; and the proposed sensitization conferences on Islamic Social Finance, Sadaqa, Zakat, and Waqf. The objective of the Workshop of Microfinance institutions is to kick-start a platform to share and deepen the understanding on the Islamic microfinance models, best practices, governance and standards developed by OIC member states. It would also aim at facilitating the elaboration of OIC Action Plan on Microfinance Development, drawing on the experiences gained through implementation of ISFD and SPDA. Finally, I wish to place on record our appreciation of the excellent working relationship existing between the management of the IDB Group and the OIC General Secretariat. I am convinced that this fruitful collaboration will impact positively on our joint endeavour as we seek to advance the cause of rapid socio-economic development in our member states. I wish this meeting a successful outcome. Thank you for your attention. Wassalamu Alaykum wa-Rrahmatullahi wa-Barakatuhu.
