About Symposium

The Statistical, Economic, Social Research and Training Centre for Islamic Countries (SESRIC), a subsidiary organ of the Organisation of Islamic Cooperation (OIC), and Islamic Development Bank (IDB) will organise the International Symposium on Financing for Development, under the theme "Thinking Innovative Solutions to Persistent Development Challenges". The Symposium will be held during 22-23 November 2018, in Istanbul - Turkey, and will provide a platform for dialogue and discussions among policymakers, policy-advisors, practitioners and academicians to address the problems related to financing for development.

The current 56 member countries of the OIC are highly diversified in terms of their level of economic development and many of them require substantial amount of resources to finance their development. Due mainly to lack of adequate resources and ineffective use of existing resources, these countries continue to face persistent development challenges. On the other hand, there are also a growing number of OIC member countries that have been active in supporting development in other developing countries, but their role in development assistance is not properly recognized at global levels.

In order to address the development finance challenges, alternative mechanisms are being voiced across the globe. A particularly strong mechanism that becomes increasingly popular is the Islamic finance instruments in financing for development, which can be instrumental for OIC countries in fostering development when effectively utilized.

In this connection, the Symposium aims to identify the opportunities for innovative financing mechanisms, including Islamic finance instruments, as well as effective utilization modalities of existing resources for financing development in developing countries, with a particular focus on OIC member countries. It will also highlight and discuss the growing role of some OIC member countries as development financiers and emerging donors in achieving global development goals.

About Organizers

Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC)

The Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), founded in 1978, is a subsidiary organ of the Organisation of Islamic Cooperation (OIC) based in Ankara, Turkey. The basic mandate drawn up for SESRIC is threefold: to collate, process and disseminate socio-economic statistics and information on and for the utilisation of the member countries; to study and evaluate the economic and social developments in the member countries to help generate proposals that will initiate and enhance co-operation among them; and to organise training programmes in selected fields geared to the needs of the member countries as well as to the general objectives of the OIC.

For more information, please check its official website: www.sesric.org

Islamic Development Bank (IsDB)

The Islamic Development Bank (IsDB) is a multilateral development bank (MDB) based in Jeddah, KSA, working to improve the lives of those the bank serves by promoting social and economic development in Muslim countries and communities worldwide, delivering impact at scale. The Bank supports member countries to grow their economies and societies in order to embrace the challenges and opportunities of the modern world. The IsDB’s mission is to build partnerships between governments, the private sector and civil society; to add value to the economies and societies of developing countries; to focus on science, technology and innovation led solutions to the world’s greatest development challenges; to promote global development that is underpinned by Sharia complaint long term sustainable and ethical financing structures; and to foster collaboration between the members’ nations.

For more information, please check its official website: www.isdb.org

Organisation of Islamic Cooperation(OIC)

The Organisation of Islamic Cooperation (OIC), founded in 1969, is today the second largest inter-governmental organization after the United Nations with a membership of 57 states spread over four continents. The Organization endeavors to safeguard and protect the interests of the Muslim world in the spirit of promoting international peace and harmony among various people of the world. The Organization has consultative and cooperative relations with the UN and other inter-governmental organizations to protect the vital interests of the Muslims and to work for the settlement of conflicts and disputes involving Member States.

For more information, please check its official website: www.oic-oci.org

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