THIQAH, BBI sign MoU to bolster business and investment opportunities

THIQAH, BBI sign MoU to bolster business and investment opportunities

Baku, Azerbaijan, June 9

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The Islamic Development Bank Group Business Forum - THIQAH and the Bosna Bank International (BBI) entered into a joint strategic collaboration by signing a Memorandum of Understanding (MoU) to facilitate cooperation between both parties to work closely on promoting and supporting the Sarajevo Business Forum (SBF) on a yearly basis and globally throughout the year.

The MoU was signed between Mr. Mohammed AlAmmari, The Acting CEO of the Islamic Corporation for the Development of the private sector (ICD), the private sector arm of IsDB Group (on behalf of THIAH) and Mr. Amer Bukvić, CEO, Bosna Bank International during the coordination meeting with Saudi Business Community on 6 June 2018 at THIQAH Premises.

The main aim of the SBF is to strengthen business and investment opportunities in the Southeast Europe region with the sole objective to foster its economic development. Therefore, the cooperation between THIQAH and BBI as organizers of SBF will bring about greater impact with regards to their respective mandate and objectives in creating a platform for business networking.

Under the terms of MoU, THIQAH and BBI will share knowledge, information and collaborate on activities such as media outreach to promote SBF in IsDB member countries, Moreover, the MoU will enable both the institutions to invite participants that are prominent leaders, important investors and successful businessmen from IsDB member countries to attend SBF, cooperate on areas that enhance the investment opportunities in their premises, share best practices and explore bilateral business opportunities.

Along with the organization of Sarajevo Business Forum as a central investment event, this partnership reinforces to work throughout the year in introducing potential projects, companies and targets in CIS and SEE regions to potentially interested investors worldwide.

Besides, THIQAH and BBI will cooperate to organize Sarajevo Halal Fair (SHF), an annual international halal industry event and exhibition of halal producers/products, as well as join efforts in the promotion of Islamic banking and capacity building of Islamic banks. Sarajevo Halal Fair (SHF) 2018 is scheduled for September 27-29 in Sarajevo, capital of Bosnia and Herzegovina.

AlAmmari said, "The signing of this MoU represents the step towards wider cooperation between THIQAH and BBI, and the creation of a business networking platform will facilitate the growth of investment opportunities on global level and generate strong and consistent returns.”

Likewise, Amer Bukvić stated, “The organization of Sarajevo Business Forum represents an exciting opportunity for partnership by both parties. The MoU enhances mutual assistance, exchange of relevant information and co-operation on initiatives that promote SBF.”

About THIQAH: The Islamic Development Bank Group Business Forum (THIQAH) is the main window of the IsDB Group that facilitate contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a platform for dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. THIQAH’s vision is to position itself as the leading business platform of the IsDB Group serving the private sector and maximizing the achievements of successful investment projects. Through facilitation and catalyst roles, THIQAH will be leveraging IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group's financial products and services. For more information, please refer to THIQAH’s Portal (www.idbgbf.org)

About BBI: Bosna Bank International is the first bank in South East Europe which operates in accordance with Islamic financing principles. BBI operates since 2000 and is headquartered in Sarajevo, Bosnia and Herzegovina. BBI is founded and owned by Islamic Development Bank, Dubai Islamic Bank and Abu Dhabi Islamic Bank, and it serves both retail and corporate clients. The bank is oriented towards development of Bosnia and Herzegovina and is highly regarded in the market for its corporate social responsibility efforts. Compliance of its operations with Islamic principles is granted by Shari'ah Board of BBI composed of both local and globally recognized experts in Shari'ah law. For the least ten years, BBI Bank has had consistent and strong growth as one of the fastest growing banks in Bosnia and Herzegovina. The Bank's assets have grown nine fold between 2006 to 2017 and its branches now number 32 throughout the country. Since 2010, BBI and BBI VIP Business Club organize Sarajevo Business Forum, an annual international investment conference which has gained global reputation and prestige during these last 9 years, positioning Bosnia and Herzegovina and the region on the investment map of the world.

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