The signing ceremony was witnessed by the representatives of several central banks and the Islamic Development Bank that are members of the Governing Board of the IILM. Professor Datuk Rifaat Ahmed Abdel Karim, Chief Executive Officer, signed on behalf of the IILM and Rajat Nag, Managing Director, signed on behalf of the ADB.
The MoU has been singed to promote global cross-border Shariah-compliant liquidity management at institutions that offer Islamic Financial Services (IIFS).
“The MoU will facilitate mutual cooperation and collaboration between the IILM and the ADB besides fostering the development of global cross-border Shariah-compliant liquidity management for IIFS”, said H E Sheikh Abdulla bin Saoud Al Thani.
Sheikh Abdulla said that the MoU is recognition that the parties understand that the development and promotion of the financial sector may, in appropriate circumstances contribute to the promotion of the economic advancement of the respective member countries.
