Baku : Yusuf Abdulla Al Humood, Undersecretary for Financial Affairs at the Ministry of Finance and National Economy, headed Bahrain’s delegation to the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group, held in Baku, Azerbaijan.
The meetings brought together ministers responsible for finance, economy and trade, central bank governors from member states, representatives of regional and international organisations, and financial and economic experts.
Participants discussed a range of key issues and initiatives aimed at advancing comprehensive development across IsDB member states. Sessions reviewed major new initiatives and projects launched by the IsDB Group, including its concessional financing framework, and examined the group’s future direction in line with the aspirations of member countries.
Discussions also focused on enhancing joint plans to address current economic conditions and enhance financial and sectoral stability in the areas of food security, energy and climate, supporting economic integration, supply chain development and sustainable prosperity.
On the sidelines of the meetings, Al Humood participated in the IsDB Group Board of Governors Roundtable, where he congratulated Dr. Muhammad Sulaiman Al Jasser on his re-election as President of IsDB Group, affirming Bahrain’s full support for efforts to further enhance the group’s developmental role.
Al Humood noted that the launch of the IsDB’s concessional financing fund represents an important strategic step towards strengthening South-South cooperation and enabling least-developed member states to access more flexible and sustainable development financing.
The roundtable reviewed development conditions across member states and exchanged expertise on issues of common interest. Participants also underscored the importance of enhancing cooperation between the bank and member countries to advance shared development objectives.
Al Humood also met with Abdullah Al Musaibeeh, President of the Arab Bank for Economic Development in Africa (BADEA), and highlighted the role of the financial and banking sector in supporting development initiatives that contribute to sustainable growth. He also affirmed Bahrain’s commitment to enhancing cooperation with financial institutions and exchanging expertise and best practices.
The undersecretary also met with Fawaz Bilbisi, Regional Director of the International Finance Corporation (IFC), to review areas of bilateral cooperation and explore opportunities to further support sustainable development efforts.
In a separate meeting, Al Humood met with Dr. Rami Ahmed, Vice President for Operations at the Islamic Development Bank, to review existing cooperation between Bahrain and the bank and discuss means to further enhance it in line with shared objectives.
The meetings also included discussions on regional economic developments, opportunities to expand cooperation, and issues of mutual interest.
