The Islamic Development Bank Institute (IsDBI) (www.IsDBInstitute.org) and the Maghreb Bank for Investment and Foreign Trade (BMICE) have signed a grant agreement to support the establishment of an Islamic window within BMICE, marking an important step toward strengthening Islamic finance offerings and expanding access to Shariah-compliant financial services in the Maghreb region.
The agreement, signed on 12 August 2026 in Jeddah, Saudi Arabia, provides a framework for IsDB Institute to extend technical assistance to BMICE in developing the institutional, regulatory, operational, and capacity-building requirements necessary for the establishment and effective functioning of the Islamic window. The support will contribute to developing a sound and sustainable framework for Islamic finance operations within the Bank, in line with applicable regulatory requirements and internationally recognized Islamic finance principles and standards.
Through this cooperation, IsDB Institute will support BMICE in strengthening its institutional readiness and human capital, developing appropriate Islamic finance products and operational processes, and addressing the legal, regulatory, and Shariah considerations relevant to the establishment of the Islamic window. The initiative is also expected to contribute to enhancing BMICE’s ability to respond to the growing demand for Shariah-compliant financial solutions in the Maghreb region.
The partnership reflects the shared commitment of IsDB Institute and BMICE to advancing Islamic finance as a tool for financial inclusion, private-sector development, and sustainable economic growth. By introducing Islamic finance services within BMICE, the initiative has the potential to broaden financing opportunities for businesses, entrepreneurs, and other economic actors, while supporting the development of a stronger regional Islamic finance ecosystem across the Maghreb.
The signing of the agreement further strengthens the cooperation between IsDB Institute and BMICE and demonstrates the Institute’s commitment to supporting its Member Countries and regional financial institutions in developing effective and enabling Islamic finance frameworks.
Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).
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About the IsDB Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org/
