Nightlife

Category: Middle East/Asia

  • Dr. Khalid Khalafalla Appointed as Acting Chief Executive Officer of Islamic Corporation for the Development of the Private Sector (ICD)

    The Board of Directors of the Islamic Corporation for the Development of the Private Sector(ICD),the private sector arm of the Islamic Development Bank(IsDB), has approved the appointment of Dr. Khalid Khalafalla as Acting Chief Executive Officer (CEO), effective 19 March 2025

    Dr. Khalafalla brings extensive experience from his career within the IsDB Group. Since December 2024, he has been serving as CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).

    This was contained in an official statement issued by ICD in Jeddah,Thursday.

    The Chairman of ICD’s Board of Directors, congratulated Dr. Khalafalla on his appointment and expressed the Board’s full confidence and support as he takes on this important responsibility.

    Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

    SOURCE

    Islamic Corporation for the Development of the Private Sector (ICD)

  • Dubai WoodShow 2025 to Host Global Traders & Experts in Timber and Logistics Markets

    Dubai WoodShow 2025 to Host Global Traders & Experts in Timber and Logistics Markets

    The highly anticipated Dubai WoodShow 2025 the premier platform for the wood and woodworking machinery industry in the Middle East and North Africa, scheduled to take place from April 14 to 16, 2025, will convene leading industry professionals, traders, experts, and key stakeholders from across the global timber and logistics markets,the event organizers said in an official statement issued in Dubai,Thursday

    Alongside the exhibition, the event will serve as a premier platform for discussions on market trends, innovations, and emerging opportunities within the sector. Attendees will gain valuable insights through a series of expert-led panel discussions and sessions designed to address critical industry developments.

    Key Sessions and Distinguished Speakers

    North African Timber Market Outlook

    Industry specialists will examine the timber trade landscape in North Africa, highlighting key opportunities and challenges. Featured speakers include:

    • Sabrina Maouche, Sales Representative, Fiskarheden
    • Karim Gouda, Business Director, GOUDA INVEST AB
    • Guillaume Hotelin, Deputy CEO, Robelbois

    Central European Timber Market Dynamics

    A comprehensive analysis of timber market trends and developments in Central Europe, featuring:

    • Gregor Triltsch, Sales Director, Sawn Timber International, Pfeifer
    • Mario Ehlers, Sales Director, ILIM TIMBER

    Scandinavian & Nordic Timber Market Insights

    Insights into evolving trends shaping the Scandinavian and Nordic timber markets with:

    • Olle Berg, Executive Vice President, Market/Sales & Business Development, Setra
    • Gustav Nyren, CEO, ELE

    MENA Market Outlook

    An in-depth discussion on the future of the timber industry in the Middle East and North Africa, featuring:

    • Amir Rashad, CEO & Founder, Timber Exchange

    Global Ocean Freight Market Analysis

    A critical examination of global ocean freight trends and their implications for timber logistics, featuring:

    • Patrik Patriksson, Senior Chartering Manager, NORDEN
    • Jacob Lind, Chartering – Timber, GOTHENBURG CHARTERING

    North American Lumber Market Outlook

    Leading experts will provide insights into the North American lumber sector:

    • Russ Taylor, Founder & Consultant, Russ Taylor Global
    • Frank Turnbull, Director, US Lumber Sales, Mercer Timber Products
    • David Trent, Senior Vice President, Business Development, Canfor

    Indian and Pakistani Timber Markets

    An exploration of the evolving timber markets in India and Pakistan, featuring:

    • Ayush Gupta, Director, Shree AK Impex
    • Abbas Ali, Founder, World of Timber
    • Shahzad Sabir, CEO, K.U. Trading Company

    European Timber Market Outlook

    A detailed discussion on the European timber industry with insights from:

    • Jesper Egsmark, Group Sourcing and Category Manager, Stark Sourcing
    • Sampsa J. Auvinen, Chairman, CEB-Bois

    Global Lumber Market Forecast

    A forward-looking analysis of global lumber market trends, featuring:

    • Amir Rashad, CEO & Founder, Timber Exchange

    Packaging and Pallet Market Trends

    An exploration of the latest developments in packaging and pallet industries, featuring:

    • Thomas Gents, COO & Executive Board Member, PalletBiz

    GCC & Levant Timber Market Trends

    Insights into the timber industry within the GCC and Levant regions with:

    • Vikash Nihalani, Vice President, PVS
    • Yahia Saidi, General Manager, Al Essami

    The Future of Value-Added Timber in the MENA Region

    An examination of the advancements in value-added timber, featuring:

    • Turki Alotaibi, Chairman, Naqsh

    South American and Australian Timber Market Dynamics

    A comprehensive analysis of timber industry developments in South America and Australia, featuring:

    • Daniel Kokot, Commercial Manager, Berneck
    • Ryan Wolters, Vice President of Sales, CMPC

    Innovative Technologies in Timber and Forestry

    A showcase of cutting-edge technologies shaping the timber and forestry sectors, featuring:

    • Martin Schulze, CEO, BlueBox Systems
    • Levi Farrand, Founder & CEO, DeepForestry
    • Christoffer Johnsson, CEO & Co-Founder, Taigatech

    Join Global Leaders in the Timber & Wood Industry at Dubai WoodShow 2025

    The Dubai WoodShow 2025 remains the foremost international platform for networking, knowledge exchange, and business development in the timber and woodworking sectors. With an extensive program of expert-led discussions, the event promises to deliver invaluable industry insights and strategic business opportunities.

    For further details and to register for the event, please visit [https://www.woodshowglobal.com/dubai].

    -Ends-

     

  • DLD Unveils ‘IPS 2025 Conference’ Agenda and Keynote Speakers

    DLD Unveils ‘IPS 2025 Conference’ Agenda and Keynote Speakers

    By: Mohammed A.Abu

    Dubai Land Department (DLD) has announced the agenda for the IPS 2025 Conference, which will take place alongside the exhibition from 14 to 16 April 2025 at the Dubai World Trade Centre (DWTC).

    The event will bring together leading real estate professionals, experts, and innovators to discuss key industry developments and emerging trends.

    Majid Al Marri, CEO of the Real Estate Registration Sector at DLD and Chairman of the IPS Organising Committee, emphasised that the IPS Conference underscores Dubai’s commitment to supporting the real estate sector and fostering a dynamic investment environment.

    This was contained in an official statement issued by the Dubai Lands Department(DLD) in Dubai,Teusday.

    The conference,the statement said, serves as a strategic platform for industry leaders and global experts to exchange insights, explore market opportunities, and drive innovation within the real estate sector.

    The conference agenda,it said, will cover key developments in real estate, including technological advancements, smart analytics, future cities, and women’s empowerment in the industry.

    Additionally,discussions it added,will address capital market challenges, supply chain disruptions, and rising costs, providing attendees with valuable insights and best practices from international markets.

    The Role of Proptech: Transforming Real Estate Management

    A key highlight of the conference will be the session titled ‘Proptech Innovation Showcase: From Manpower to Tech-Power – How Modern Property Management is Transition from Labour-Intensive to Technology-Intensive”, which will explore how real estate management is transitioning from labour-intensive operations to advanced, technology-driven systems.

    The discussion will focus on automation, artificial intelligence, and smart property management tools, demonstrating how these innovations enhance operational efficiency, reduce costs, and improve tenant satisfaction, all of which are critical factors in the evolving landscape of smart cities and digital transformation.

    This session will feature industry experts, including:

    • Abdul Azim Osman, Co-Founder – Nawy (Largest Proptech in Africa)
    • Vitaly Berezka, Regional Head Central Asia, MENA & APAC – Plan Radar
    • Alexander Karabet, Founder & CEO – Mansions Owners Association Management
    • Hamdan Al Kaitoob, VP – Head of Property & Community Management – Deyaar Development PJSC
    • Artyom Meltonyan, Founder & CEO – Deluxe Homes

    The Power of Data in Real Estate Investment

    The conference will also feature a keynote presentation by Sam Mahrabod, CEO and Co-Founder of ROOMVU, titled ‘Real Estate Analytics: A Comprehensive Guide on Predictive Analytics for Large Real Estate Asset Owners.’

    The session will explore how predictive analytics can be leveraged to refine investment strategies, optimise asset performance, and drive data-backed decision-making.

    Additionally, Nikki Greenberg, Founder and Chief Innovation Officer at Real Estate of the Future, will present a thought-provoking session on artificial intelligence in real estate titled ‘AI and Machine Learning in Real Estate: How to leverage AI to predict market trends.’ Attendees will gain insights into how AI-powered tools are revolutionising market forecasting, operational automation, and customer engagement in the industry.

    Empowering Women in Real Estate

    A dedicated conference track will focus on women’s leadership in real estate, under the theme ‘Elevating Global Leadership in Real Estate,’ which will include keynote discussions aimed at fostering gender diversity and expanding leadership opportunities for women in the industry.

    One of the conference’s key sessions, ‘Breaking Barriers: Expanding Women’s Leadership in Real Estate,’ will address strategies for achieving gender equality in leadership roles within global real estate markets.

    Another inspiring session, ‘The Power of Resilience: Women Rising Beyond Challenges,’ will showcase female leaders from diverse backgrounds who have overcome obstacles to build successful careers in real estate.

    Panellists will include:

    • Arleen Davis, Global Real Estate Sales Director – Damac Dubai Property
    • Judge Yaqeen Al Hammadi, Judge – Rental Disputes Center UAE
    • Marlene Llamas Leon, Real Estate Advisor – Realtor

    The discussion will delve into the challenges and opportunities for women entrepreneurs in real estate financing, with industry leaders sharing insights on securing investments, navigating financial networks, and overcoming gender biases in the industry.

     Building Strong Client Relationships in the Digital Age

    Building and maintaining strong client relationships has become increasingly critical as technology continues to reshape real estate interactions. Addressing this shift, Georg Ortner, Founder of Mackler Service AG, will lead a Masterclass titled ‘Building Strong Client Relationships in a Digital Age: Strategies for Effective Client Communication and Retention’

    This masterclass will explore key strategies for understanding customer behaviour, enhancing engagement, and establishing long-term trust, equipping attendees with the tools needed to thrive in the evolving real estate landscape.

    A Must-Attend Event for Real Estate Professionals

    IPS 2025 provides an unparalleled platform for investors, developers, and industry professionals to gain expert insights, explore cutting-edge innovations, and forge strategic partnerships. With a carefully curated lineup of sessions and industry leaders, the event is set to be a landmark gathering for the global real estate community.

    For more information and to register for IPS 2025, visit: www.ipscongress.com

     

     

  • Commitment to Supporting Integrity and Growth of the Islamic Financial Services Industry

    Commitment to Supporting Integrity and Growth of the Islamic Financial Services Industry

    By: Mohammed A.Abu

    The General Council for Islamic Banks and Financial Institutions (CIBAFI) submitted its comments to the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) on the Exposure Drafts (EDs) on “Auditing Requirements for Assessing Compliance with Shariah Principles and Rules” and “Principles of Assessment of the Necessity for Obtaining Conventional Reinsurance by Takaful Institutions.”

    Representing the collective perspective of its membership from more than 30 jurisdictions, CIBAFI’s submission highlights several areas requiring further clarification and enhancement in both drafts. For the Shariah compliance auditing framework, CIBAFI emphasized the need for additional guidance on application scope, auditors’ responsibilities, and addressing emerging challenges from digital transactions and AI systems.

    This was contained in an official statement issued in Manama, Bahrain, Sunday.

    Regarding the Takaful reinsurance draft, CIBAFI the statement said, identified key areas for refinement including definitional clarity, numerical thresholds, and structural considerations.

    The organization also noted that certain elements of this draft might be better positioned within revised Shariah Standards rather than Governance Standards.

    “These submissions reflect our ongoing commitment to advancing robust frameworks that support the continued growth and integrity of the Islamic Financial Services Industry,” CIBAFI also stated.

    “CIBAFI continues to support the Islamic Financial Services Industry through advocacy, global representation, and various initiatives including specialized publications and comprehensive professional development programmes”, the organization further stated.

    The complete detailed comments submitted to AAOIFI are available on CIBAFI’s website: www.cibafi.org.

     

     

     

  • TradeTech Forum Returns for its Second Edition at AIM Congress 2025

    TradeTech Forum Returns for its Second Edition at AIM Congress 2025

    Abu Dhabi, UAE, 4 March: The TradeTech Forum, hosted by the World Economic Forum (WEF) will return for its second edition at  AIM Congress, set to be held on April 8, 2025, alongside the ongoing AIM Congress.

    With over 400 of the world’s foremost trade leaders and experts attending the forum this year’s TradeTech Forum aims to extend and expand the conversation on leveraging technology to transform global trade and investment.

    With a mission to explore how emerging technologies are impacting and shifting the norms of international trade, the impact on sustainability and fostering inclusivity, this year’s theme “TradeTech Transition: Evaluating the Present, Envisioning the Future”, will bring together innovators, policymakers and key global leaders into one forum.

    The TradeTech Forum this year continues with an updated and far more comprehensive agenda, with plenary sessions involving key experts of the industry, interactive workshops, and networking opportunities aimed to offer actionable insights to all attendees.

    H.E. Dr. Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade, UAE, will officially open the forum. Speaking on the impact of the forum to the UAE and the world, Dr. Al Zeyoudi said: “Technology can revolutionize global supply chains at every stage, creating opportunities to expand international trade.

    It enables less developed countries and small and medium-sized enterprises to participate more effectively and fairly in the global trading system, while enhancing security and transparency. The TradeTech Forum is a key platform to advancing these benefits, convening global trade leaders to explore leveraging technology to make supply chains smarter, more sustainable, and inclusive.”

    H.E. Al Zeyoudi added: “As a nation at the forefront of technological innovation and global trade facilitation, this platform exemplifies our commitment to fostering collaboration and harnessing digital technologies to drive sustainable, inclusive growth in global trade. We look forward to welcoming participants from around the world to chart the next chapter of TradeTech advancement together.”

    His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said: “As a key node on international supply chains and a global magnet for talents, businesses, investments, Abu Dhabi continues to develop trade facilitation solutions, and employ advanced technologies and methods such as AI and Blochian to enable free and fair trade and exchange of goods, services, and innovations.

    The TradeTech forum in Abu Dhabi provides a suitable platform to discuss ideas, challenges, and explore opportunities, devising innovative solutions that will shape the future of global trade”.

    The agenda for the forum packs many multi-disciplinary sessions, with the day starting off with the TradeTech Face-Off, an engaging breakfast debate featuring two contrasting visions on the future of TradeTech, where attendees will have to take a stance to what they believe the future of TradeTech holds.

    This dialogue will expand on to topics such as smart customs and how AI will revolutionize trade, a topic explored in depth in the latest TradeTech report “Artificial Intelligence for Efficiency, Sustainability and Inclusivity in TradeTech” just launched at the Annual Meeting at Davos.

    Plenary panels will continue throughout the day, discussing key topics such as the outcomes of the 2025 TradeTech Report, the regulatory sandbox outcomes in trade finance, and the imperatives for investment in trade innovation.

    A series of interactive workshops have been designed to create engaging deep-dives into AI-driven transformations in supply chains, trade finance, and logistics. In addition, the attendees can expect exclusive networking opportunities, with dedicated spaces for bilateral meetings, investor collaborations, and knowledge exchange.

    Hosted alongside AIM Congress 2025 at Abu Dhabi National Exhibition Centre (ADNEC), the TradeTech Forum is poised to set the global agenda for innovation in trade and investment, fostering cross-border collaboration and long-term economic resilience. “As a global collective, we must urgently transition into action mode, prioritizing immediate steps that drive substantial impact.

    Embracing the latest technological advancements and fostering thought leadership in TradeTech, alongside exploring regulatory adaptations, and supporting innovative startups, is essential to create a more efficient, sustainable, and equitable trade landscape.

    This is what we do at the TradeTech Global Initiative and why we convene this high-level forum.”, shared Tim Stekkinger, Head, TradeTech Initiative, World Economic Forum.

     

     

  • Charting the Future of Islamic Finance in Russia:CIBAFI and TIDA Host Strategic Session and Training Programme

    Charting the Future of Islamic Finance in Russia:CIBAFI and TIDA Host Strategic Session and Training Programme

    The General Council for Islamic Banks and Financial Institutions (CIBAFI), in collaboration with the Tatarstan Investment Development Agency (TIDA), successfully hosted a high-level strategic session titled “Prospects for Islamic Finance in the Russian Federation” in Kazan, Tatarstan.

    Dr. Belatik stated: “Islamic finance has strong growth potential, and collaboration between Russia and countries where it is well established can accelerate its development. It offers opportunities for economic growth by supporting real economic activities and promoting ethical finance. CIBAFI remains committed to this progress through advocacy, capacity building, and industry engagement. By strengthening human capital and refining regulations, we can drive sustainable growth that benefits the financial sector and the broader economy”

    Ms. Minullina stated: “Our companies are actively working with Islamic countries, and while the use of Islamic financial instruments is still in its early stages, there is noticeable progress and significant potential for growth. It is crucial for us to establish a comprehensive infrastructure to accelerate this process. Today, we have launched a new training phase aimed at deepening the knowledge of our specialists and enhancing their capabilities for the future development of Islamic banking in Russia. It is important to note that this training is conducted by global experts with international professional standards.”

    Following the opening remarks, Dr. Belatik provided a briefing on CIBAFI’s activities, emphasizing its role in advancing Islamic finance through advocacy, research, and capacity-building initiatives. The session then featured a panel discussion, where experts examined key challenges, opportunities, and regulatory considerations for the industry’s growth in Russia.

     

    As part of its ongoing efforts, CIBAFI also launched a three-day Orientation Programme in Islamic Finance, offering a comprehensive understanding of Islamic finance principles, key financial products, and Shariah-compliant structures. The programme, facilitated by Dr. Ayman Sami Homoud, Group Chief Executive Officer, FEH Consulting combined theoretical knowledge with practical applications in Islamic finance, addressing emerging trends and regulatory developments.

     

    In conjunction with the strategic session and training programme, Dr. Belatik held a productive meeting with H.E. Rustam Nurgaliyevich Minnikhanov, President of the Republic of Tatarstan, in Kazan. The meeting was also attended by Ms. Taliya Minullina, CEO of the TIDA, who represented the interests of the region’s investment and development initiatives. Discussions focused on key initiatives and potential avenues for collaboration in supporting Islamic finance and raising public awareness. The meeting concluded with strategic plans set to be implemented in the coming period.

     

    This initiative reaffirms CIBAFI’s commitment to strengthening Islamic finance globally through capacity-building and industry collaboration.

    SOURCE

    CIBAFI

  • The Djibouti Forum returns for its second edition:a unique platform for investment and dealmaking in Africa

    The Djibouti Forum returns for its second edition:a unique platform for investment and dealmaking in Africa

    Djibouti City, Djibouti – 19 February 2025–The second edition of the Djibouti Forum, under the theme “Unlocking opportunities for regional and global growth”, will take place from the 6th to the 8th of April 2025.

    Organised by the Fonds Souverain de Djibouti (Sovereign Wealth Fund of Djibouti), this landmark gathering seeks to positively shape the African agenda while highlighting the Horn of Africa’s pivotal role as a catalyst for growth and development in the region.

    Positioned at the crossroads of Africa, the Middle East, and Asia, the eastern corridor of Africa is emerging as a powerhouse of innovation, trade, and development. The Djibouti Forum 2025 builds on this momentum to offer a unique platform for economic transformation.

    Through the visionary leadership of Djibouti policymakers, the Forum aims to identify and showcase investable opportunities in the region and across Africa, advance strategic partnerships and dealmaking and explore innovative solutions to drive sustainable growth across priority sectors.

    “Our Strategic Vision 2035 is to consolidate our role as a port and digital hub while diversifying our economy, promoting inclusive prosperity and strengthening our position on the international stage” stated HE Ismail Omar Guelleh, President of the Republic of Djibouti.

     “Djibouti is also promoting regional integration and helping to strengthen AfCFTA to stimulate economic growth and sustainable development in Africa and the Djibouti Forum stands as a critical platform for accelerating business opportunities across our region and the continent.”

    Following a successful first edition that gathered 46 expert speakers and representations from 280 institutions with a collective US$2.5 trillion in assets under management, the Djibouti Forum will return for a second time with an unparalleled network of policymakers, financiers, institutional investors, and industry leaders, to bring forward impactful dialogue and transformative opportunities.

    Bringing together key stakeholders, the Forum will serve as a gateway for dialogue, collaboration, and concrete action toward shaping the continent’s future. The objective of this strategic meeting is to deliver valuable insights and foment discussions on future megatrends and macroeconomic outlooks while tapping into new opportunities.

    Over 50 speakers will delve into critical themes shaping global markets, including public-private partnerships (PPPs), domestic resource mobilisation, and sector-specific insights spanning energy, logistics, hospitality, telecoms, technology and digitisation.

    Investors and policymakers will explore the favorable prospects offered by ports and new trade corridors in creating value chains while leveraging partnerships and alliances to further strengthen regional and continental integration.

    The Djibouti Forum connects decisionmakers, investors and developers to drive actionable outcomes and make an impact. This premier event presents a unique opportunity for high-level networking. Participants can access the full agenda and register directly on the Djibouti Forum website

    SOURCE

    The Djibouti Forum
  • Islamic Finance Expands Africa’s Energy Investment Landscape, Strengthening Arab-African Cooperation

    Islamic Finance Expands Africa’s Energy Investment Landscape, Strengthening Arab-African Cooperation

    PARIS, France, February 17, 2025/ — Africa’s energy sector is seeing growing interest from Islamic financial institutions, as demonstrated by the recent $400 million Murabaha financing secured by Africa Finance Corporation (AFC).
    This transaction not only underscores the growing role of Islamic finance in Africa’s infrastructure development, but also highlights significant opportunities for deeper financial cooperation between Arab and African nations in the energy sector.

    The strong demand for AFC’s facility, which attracted 11 Islamic financial institutions – including Abu Dhabi Islamic Bank, Al Rajhi Bank and Emirates Islamic Bank – signals growing appetite among Middle Eastern banks to engage in Africa’s development.

    The facility, upsized from an initial $300 million due to high investor interest, reinforces AFC’s strategy to diversify its funding base and aligns with broader efforts to expand energy investment partnerships between Arab and African countries.

    Islamic finance is emerging as a key source of funding for Africa’s energy sector, particularly for large-scale infrastructure projects. The Murabaha financing structure used in AFC’s deal aligns with Sharia principles, offering an attractive and ethical investment vehicle for Middle Eastern and North African financial institutions seeking exposure to African markets.

    This move complements AFC’s recent $500 million hybrid bond issuance and the corporation’s ongoing efforts to attract diverse capital sources, including potential Panda bonds in China.

    Opportunities for Arab Investment in Africa’s Energy Future

    The increasing participation of Islamic banks and financial institutions presents a strategic opportunity for Middle Eastern nations to play a larger role in Africa’s energy transition.

    Countries such as the UAE, Saudi Arabia and Qatar have well-capitalized financial institutions and sovereign wealth funds that can accelerate Africa’s energy infrastructure expansion, particularly in natural gas, renewables and power generation.

    Arab nations already have a growing footprint in Africa’s energy sector. The UAE’s Masdar has been investing in renewable projects across North and sub-Saharan Africa – committing $10 billion to deliver 10 GW of clean energy capacity in Africa by 2030 – while Saudi Arabia’s ACWA Power has been involved in developing solar and desalination projects across the continent.

    QatarEnergy has been actively advancing hydrocarbon exploration in Africa, expanding its interests in Namibia’s offshore Orange Basin, while ADNOC has strengthened its footprint by acquiring a 10% stake in the Area 4 concession of Mozambique’s Rovuma Basin.
    However, there remains significant untapped potential for Arab-African cooperation, particularly in financing LNG terminals, gas-to-power projects and oil and gas exploration. Countries like Egypt, Algeria and Libya, which straddle both regions, can serve as financial and logistical bridges between Middle Eastern investors and African energy markets.

    The Role of Energy-Focused Islamic Finance

    The AFC’s Murabaha financing comes at a time when global Islamic finance is experiencing sustained growth, with assets expected to see high single-digit expansion through 2025, according to S&P Global Ratings.

    This growth is supported by strong balance sheets, high profitability and increasing regulatory backing. The surge in Islamic finance presents a timely opportunity for African energy projects, which require significant capital investment to meet the continent’s growing energy demand.

    One of the major advantages of Islamic finance is its alignment with sustainable investment principles, making it particularly attractive for funding Africa’s energy transition.

    In addition to AFC’s investment in renewable energy ventures such as Xlinks’ renewable energy initiative and the expansion of Lekela Power’s 3 GW capacity target, Islamic financial institutions could extend their involvement to Africa’s gas sector, which is viewed as a transitional fuel to bridge the energy gap.

    Strengthening Arab-African Partnerships at IAE 2025

    The increasing role of Middle Eastern finance in Africa’s energy sector will be a critical focus at the upcoming Invest in African Energy (IAE) Forum in Paris this May.

    Serving as the premier African energy project showcase outside of the continent, IAE 2025 provides a space for African governments, investors and key financial players from the Middle East to explore new partnerships and drive investment in gas, LNG and broader energy infrastructure projects.
    By tapping into Islamic finance, African countries can secure critical capital to accelerate its energy development. At the same time, Arab nations stand to benefit from deeper economic integration with Africa, gaining access to new markets and resources. The AFC’s successful Murabaha financing serves as a strong indicator that the time is ripe for greater energy sector collaboration between Africa and the Middle East.

    IAE 2025 (http://apo-opa.co/4hC0kAA) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    Distributed by APO Group on behalf of Energy Capital & Power.

    SOURCE

    Energy Capital & Power

  • Africa: The Islamic Development Bank Institute (IsDBI) and Mohammed bin Salman (MBS) College Announce Strategic Partnership to Deliver Entrepreneurial Leadership Programs

    Africa: The Islamic Development Bank Institute (IsDBI) and Mohammed bin Salman (MBS) College Announce Strategic Partnership to Deliver Entrepreneurial Leadership Programs

    The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) and Prince Mohammed bin Salman College of Business & Entrepreneurship (MBSC) have signed agreements to foster entrepreneurial skills and leadership excellence in IsDB Member Countries and Muslim Communities.

    This collaboration aims to launch two innovative programs: the Entrepreneurial Mindset Development Program and the Strategic Business Leadership Program. These programs integrate Islamic finance values and instruments to foster economic growth in Member Countries. The programs will be hosted by MBSC and delivered jointly by both institutions.

    Dr. Sami Al-Suwailem, Acting Director General of IsDBI, and Dr. Zeger Degraeve, Dean of MBS College, signed the agreements during a ceremony at the IsDB Headquarters in Jeddah on 29 January 2025.

    The Entrepreneurial Mindset Development Program is designed to equip participants with the essential skills, knowledge, networks, values and training needed for successful entrepreneurial ventures.

    The Strategic Business Leadership Program aims to develop the key attributes of entrepreneurial success: personal attributes, including behavior, personality, and capabilities, as well as business attributes such as its structure, goals, and performance management.

    Both programs will include a series of interactive workshops, mentorship sessions, and real-world projects. Participants are expected to gain valuable insights into innovative thinking, business planning, and effective problem-solving.

    In his comments on this occasion, Dr. Sami Al-Suwailem said, “We are very excited about the partnership with the MBS College. As the knowledge beacon of the IsDB Group, we hope that the joint programs with MBSC will create a new breed of business leaders and entrepreneurs who successfully capitalize on the principles of Islamic finance to stimulate economic progress in their communities.

    Human capital is our greatest resource, and it is important that we equip our youth with the right tools and skills to face the emerging challenges of the future.”

    Dr. Zeger Degraeve, Dean of MBSC, said, “This partnership underscores MBSC’s dedication to fostering entrepreneurial leaders who can contribute to Saudi Arabia’s ambitious Vision 2030 and beyond. By integrating Islamic finance principles with practical business strategies, these programs will empower participants to address real-world challenges and drive sustainable economic and social value, both within the Kingdom and across IsDB Member Countries.”

    Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI). 

    For more information about the two programs, please contact Yahya Rehman at yrehman@isdb.org.

  • 15th IRENA Assembly to Set Energy Transition Narrative for 2025

    15th IRENA Assembly to Set Energy Transition Narrative for 2025

    Abu Dhabi, United Arab Emirates, 12 January 2025 – The 15th Session of the International Renewable Energy Agency (IRENA) Assembly convenes today, January 12, 2025, in Abu Dhabi, marking the first international energy meeting of the year. Under the theme ‘Accelerating the Renewable Energy Transition – The Way Forward,’ the two-day meetings will bring together ministers and high-level delegates from IRENA’s 170 Member States, academia, development banks, CEOs and youth to enhance wider, cross-sectoral collaboration on the energy transition.

    Key discussions will focus on tripling renewable energy capacity by 2030, enhancing ambition in Nationally Determined Contributions (NDC 3.0), supporting transitions in emerging economies, and leveraging innovative financial flows in developing countries.

    “The world is undergoing rapid transformation, driven by a shifting geopolitical landscape and technological breakthroughs such as artificial intelligence,” said IRENA Director-General Francesco La Camera. “Amid these changes, renewables must remain a top global priority as the most effective way to keep climate and sustainable development goals within reach. The 15th IRENA Assembly provides a critical platform to navigate the energy transition, explore emerging opportunities, and identify actionable priorities for 2025 and beyond.”

    “No country, regardless of its size, can achieve this transition alone. The energy transition is a shared responsibility, requiring unity and collective action,” said H.E. Bojan Kumer, Slovenia’s Minister of the Environment, Climate and Energy. “Slovenia firmly believes in the potential for collaboration, as we all face common challenges in achieving a just, inclusive, and competitive energy future and enhancing climate ambition. As the 15th IRENA Assembly President, Slovenia is committed to fostering dialogue and partnerships that unlock the vast potential of renewables, ensuring they remain at the heart of decarbonization efforts worldwide.”

    “For 15 years, the UAE has proudly hosted IRENA, providing a global platform for the critical dialogues and collaborations needed to drive the energy transition forward at pace and scale,” said H.E. Dr. Amna Al Dahak, Minister of Climate Change and Environment of the UAE. “As a nation at the forefront of driving this transition, we are committed to leading by example, by investing in renewable energy innovations, advancing smarter grid technologies, and championing solutions to address and overcome the unfolding climate crisis. The 15th IRENA General Assembly is an opportunity to demonstrate the power of international cooperation in shaping a sustainable and resilient future, with the UAE remaining a steadfast partner and catalyst for global energy security and sustainability.”

    Given the urgent need for political momentum and international cooperation, several Ministerial and High-level were held yesterday, on Pre-Assembly Day, January 11, 2025, to facilitate interaction among decision-makers and inform the future work of the Agency.

    The 15th IRENA Assembly also kick-starts the 2025 edition of Abu Dhabi Sustainability Week (ADSW), taking place from January 12–18 in Abu Dhabi, where heads of state, ministers, high-level delegates, and experts will meet to accelerate the world’s sustainability efforts.

    SOURCE

    IRENA