Jeddah: The Islamic Development Bank (IsDB) signed a Memorandum of Understanding (MoU) with Brunei Darussalam today, establishing a strategic partnership to guide their medium-term cooperation from 2025 to 2030.

The signing took place in Bandar Seri Begawan, Brunei's capital, with IsDB President Dr. Mohammed Al-Jasser and Brunei's Minister of Finance and Economy Dr. Haji Mohd Amin Liew bin Abdullah in attendance.

The MoU aims to foster collaboration in key areas such as Islamic finance, support for small and medium-sized enterprises, regional economic cooperation, climate change mitigation and adaptation, and capacity development. It also focuses on enhancing information and communications technology, digitization, and empowering women and youth.

Dr. Al-Jasser emphasized that this partnership aligns with Brunei's Wawasan Vision 2035 and the Medium-Term Development Plan, which outlines a roadmap for cooperation between Brunei and the IsDB Group. He also noted that the IsDB Group plans to complete the ongoing engagement framework in 2024 to further explore and prioritize areas of cooperation with the Government of Brunei Darussalam.