IsDB Group Chairman Dr. Muhammad Al Jasser Calls For Stability In Long-Term Investments

At the Saudi–US Investment Forum, Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, discussed Saudi Arabia's economic transformation. He emphasised the need for global cooperation to boost development efforts. The Kingdom's capital market has grown significantly, becoming one of the largest globally. This growth is part of a broader economic renaissance that includes export diversification and new sectors like tourism.

Dr. Al Jasser highlighted Saudi Arabia's achievements in diversifying exports and developing new sectors such as tourism. He also noted the increased participation of women in the workforce as a significant milestone. These changes reflect a broader economic transformation that positions Saudi Arabia as a key player in the global market.

He stressed the importance of expanding co-financing frameworks and enhancing collaborative projects. Innovative financial instruments like Islamic sukuk are crucial for these efforts. The successful co-financing of Tajikistan's Rogun Dam, valued at $6 billion, exemplifies impactful multilateral cooperation involving various international institutions.

Addressing global financial volatility challenges, Dr. Al Jasser stated: "We need that predictability. We need that certainty. We need that calmness that we have had for a long time and must continue with us in the future, because the absence of these elements makes it difficult to plan ahead." He emphasised that stable environments and trusted financial systems are essential for long-term infrastructure development.

He acknowledged their ability to manage uncertainty but pointed out that unpredictability poses real challenges. Dr. Al Jasser called for intensified global coordination to protect long-term investments and support resilient growth strategies.

Commitment to Infrastructure and Economic Development

The IsDB Group remains committed to supporting infrastructure and economic development across its 57 member countries through inclusive approaches like Islamic Sukuk and blended finance. Dr. Al Jasser reaffirmed this commitment, highlighting the importance of scalable solutions for sustainable growth.

With inputs from SPA