Islamic Development Bank (IsDB)
Areef Suleman serves as the Group Chief Economist at the Islamic Development Bank (IsDB) since November 2023, previously holding the position of Director of Economic Research and Statistics at the Islamic Development Bank Institute (IsDBI) from January 2021 to November 2023. Extensive experience at IsDB includes roles such as Director of Economic Research & Institutional Learning, Manager of Strategy Development, and Acting Manager of Innovation and Knowledge for Development, where significant contributions were made to the bank's first 10-year strategy and its results-based culture initiative. Prior to IsDB, Areef Suleman was involved with the Industrial Development Corporation of South Africa (IDC) in various capacities from 1994 to 2007, including CEO of the Support Programme for Industrial Innovation and Manager of Kindoc Advisory Services. Areef Suleman holds a PhD in Economics and multiple degrees, including a Master's in Business Leadership and a Bachelor's in Commerce.
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Islamic Development Bank (IsDB)
Purpose • We believe all people have the right to live in dignity and aspire prosperity, and that nurturing economic growth is the best route out of poverty. • We equip people to drive their own economic and social progress at scale, putting the infrastructure in place to enable them to fulfil their potential. • We do this by building collaborative partnerships between communities and nations, and working towards the UN Sustainable Development Goals. • We aim to foster innovative, ethical and sustainable solutions to the world’s greatest development challenges. Functions The functions of the Bank are to participate in equity capital and grant loans for productive projects and enterprises besides providing financial assistance to member countries in other forms for economic and social development. The Bank is also required to establish and operate special funds for specific purposes including a fund for assistance to Muslim communities in non-member countries, in addition to setting up trust funds. The Bank is authorized to accept deposits and to mobilize financial resources through Shari'ah compatible modes. Entities The IsDB Group is a multilateral development institution which consists of five entities: 1) Islamic Development Bank (IsDB) 2) Islamic Research and Training Institute (IRTI) 3) Islamic Corporation for the Insuranceof Investment and Export Credit (ICIEC) 4) Islamic Corporation for the Development of the Private Sector (ICD) 5) International Islamic Trade Finance Corporation (ITFC) Head Office and Regional Offices The IsDB is headquartered in Jeddah, Saudi Arabia, and has 7 decentralized Regional Hubs in Morocco, Senegal, Nigeria, Turkey, Kazakhstan, Indonesia, Bangladesh; and a Centre of Excellence in Malaysia For more information please visit: www.isdb.org