ICESCO and Islamic Development Bank set to sign memorandum of understanding

Economy Materials 16 June 2026 14:25 (UTC +04:00)
ICESCO and Islamic Development Bank set to sign memorandum of understanding
Sadig Javadov
Sadig Javadov
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BAKU, Azerbaijan, June 16. A memorandum of understanding (MoU) is expected to be signed between ICESCO and the Islamic Development Bank, Amira El Fadil, Head of the Partnerships and International Cooperation Sector at ICESCO, said, Trend's correspondent reports from the event.

She made the remark during an event titled "Champions of the Halal Industry Driving Innovation, Trust, and Global Growth," held as part of the Annual Meeting of the Islamic Development Bank (IsDB) Group in Baku,

She noted that the halal industry creates vast economic opportunities for the Islamic world and Muslim countries.

"ICESCO has 54 member states. Currently, a number of non-Muslim countries also hold observer status in the organization. Such a broad membership framework allows us to strengthen cooperation with member states and their governments, and particularly to create new opportunities for youth in Islamic countries," she emphasized.

Amira El Fadil pointed out that ICESCO pays special attention to the empowerment of youth and women. According to her, the organization seeks to play a more active role in the halal industry by leveraging its core areas of activity, such as education, culture, and science.

She stated that over the past four years, ICESCO has significantly expanded its activities in the halal industry sector.

"The leading role in this direction is played by the organization's science and technology sector. This sector operates in cooperation with the fields of education and culture. When looking at the halal industry from a cultural perspective, we see that this sector is shaped on the foundation of Muslim values and culture," she added.

The ICESCO official noted that the organization, as a partner institution of the Islamic Development Bank, is working on expanding cooperation in the halal industry.

"Currently, a memorandum of understanding is expected to be signed between ICESCO and the Islamic Development Bank. We expect this document to be signed in the near future. One of the main projects involves capacity building and strengthening cooperation in the halal industry," she said.

According to Amira El Fadil, ICESCO has been actively working in this field through the education sector since 2022.

"We have held a number of meetings with the steering committee, and the initiatives have been presented to ministers of education. Seminars and training programs are being organized in member states. The goal is to better promote the essence of the halal industry, the key entities and organizations operating in this field, and to strengthen awareness among governments, the public, and non-governmental organizations," she emphasized.

She added that ICESCO has organized numerous events in Morocco and other member countries. Alongside government agencies, representatives from the private sector and small and medium-sized enterprises (SMEs) also participate in these events.

"Currently, we are continuing our cooperation with the private sector and non-governmental organizations in the member states," Amira El Fadil said.

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