The role of the Islamic Development Bank Group on Economic Capacity Building

Abstract

This paper reflects the evidence of the Islamic Development Bank's role in building human and institutional capacities in Member States and assisting governments in achieving economic development. The Bank's activities in the area of ​​capacity development are an important part in following up the economic developments, And help governments to build and formulate effective policies and institutions to implement more effective macro policies leading to better economic outcomes. It is therefore helpful to help Member States increase their resources, modernize their banking systems, establish effective legal frameworks and improve Reports on macroeconomic and financial statistics. The Bank has faced many challenges and risks that have focused on applications in fear of applying Sharia concepts in financing and how they can respond to the increasing demand for support and financing and the provision of development needs that exceed the Bank's capabilities to developing countries, as well as the obvious shortage of qualified and trained personnel in Islamic banking and finance .

       The bank has been able to overcome these challenges by increasing its efforts by increasing member countries and increasing the Bank's annual funding. The bank has since established Sharia-compliant financing methods and issued Islamic financing instruments to complement these efforts. The new financing for development in member countries included electricity and construction Capacity, and exchange of experiences with water, industry, housing, telecommunications, agriculture and health, in addition to educational and health projects for a number of Muslim communities in non-member countries, as well as benefiting from areas that enable relatively developed Member States Old technical assistance, exchange

        As a result of all the efforts exerted by the bank, it has become the first financial institution in the world to address poverty, support capacities, encourage youth and students and support small enterprises even in non-member countries.