Malaysia Explores Collaboration with Islamic Development Bank to Boost Economic Ties

Malaysia is actively seeking to strengthen its economic ties with the Islamic Development Bank Group (IsDB), an international financial institution that promotes social and economic development in member countries. The country, which joined the IsDB on August 12, 1974, is examining potential collaborations and partnerships to encourage growth and development.

Treasury Secretary-General Datuk Seri Asri Hamidon highlighted Malaysia's long-standing relationship with the IsDB, stating that the country is looking to work closely with the bank to identify areas of cooperation. The IsDB currently has 57 member countries, providing a platform for Malaysia to engage with a diverse range of nations and explore new economic opportunities.

Last November, Prime Minister Datuk Seri Anwar Ibrahim called for increased collaboration among Muslim countries in business, investment, and economics. He emphasized the importance of strengthening ties within the Muslim world to promote shared prosperity and address common challenges. Malaysia's engagement with the IsDB aligns with this vision, as it seeks to leverage the bank's resources and expertise to drive economic growth and development.

The IsDB is also celebrating its 50th anniversary this year, marking five decades of unwavering collaboration, steadfast partnerships, and transformative change. The bank has played a vital role in supporting the development of its member countries, providing financing for infrastructure projects, social programs, and economic initiatives. Malaysia's continued partnership with the IsDB is expected to bring new opportunities and benefits to the country and its people.

"Malaysia is looking to work with the IsDB, which currently has 57 member countries," stated Treasury Secretary-General Datuk Seri Asri Hamidon, underscoring the country's commitment to fostering economic cooperation through the IsDB platform. As Malaysia continues to examine avenues for collaboration, the nation is positioned to benefit from the IsDB's expertise, resources, and global network, setting the stage for enhanced economic growth and development in the years to come.

Key Takeaways

• Malaysia joined the Islamic Development Bank (IsDB) in 1974, seeking to strengthen ties.
• Malaysia aims to collaborate with IsDB's 57 member countries to explore new economic opportunities.
• Malaysia's engagement with IsDB aligns with the PM's call for increased collaboration among Muslim nations.
• IsDB has provided financing for infrastructure, social programs, and economic initiatives in member countries.
• Malaysia's partnership with IsDB can unlock new growth, investment, and development opportunities.