IsDB Attends 1st Finance and Central Bank Deputies (FCBD) Meeting under Indonesian G20 Presidency

The Islamic Development Bank (IsDB) undertook a mission to Bali, Indonesia on December 9 – 10, 2021, to attend the start of the First Finance and Central Bank Deputies (FCBD) Meeting for the financial track under the Indonesian G20 Presidency.

The Deputy level officials from the G20 member central banks attended the FCBD meeting. IsDB Vice President Finance and CFO, Dr. Zamir Iqbal, accompanied by Head of IsDB Group Regional Hub Indonesia, Mr. Saleh Jelassi, represented the Bank in the meeting.

A key note speaker at the meeting was IsDB Governor and Minister of Finance of the Republic of Indonesia, Her Excellency Sri Mulyani Indrawati, who underlined that “Indonesia is determined to address the global challenges and seek the best solutions, ensure that all countries can recover together while encouraging policy reforms that support stronger, sustainable, balanced, and inclusive economic growth after the pandemic”.

The first FCBD meeting is linked to Indonesia’s G20 presidency in 2022, with a focus on the global collective recovery and managing the economy’s “exit strategies” in the face of the Covid-19 pandemic, as well as a High-Level Discussion on the theme of the Presidency.

On the sidelines of the meeting, IsDB Vice President Finance and CFO, Dr. Zamir Iqbal, met with the Heads of the Indonesian delegation from the Indonesian Ministry of Finance and Bank Indonesia to discuss the ongoing cooperation between the Republic of Indonesia and IsDB. “IsDB is grateful to Indonesia for being invited to participate in the G20 meetings under the Indonesian Presidency and is fully committed to supporting Indonesia throughout this process,” said Dr. Iqbal during the meeting. Several areas of potential collaboration including the contribution of Islamic finance to G20 agenda were also discussed.

The theme of this year’s presidency is “Recover Together, Recover Stronger.” Through this theme, Indonesia invites the entire world to collaborate, recover, and grow stronger and more sustainably together. The theme reflects Indonesia’s intention and objective to strengthen coordination and collaboration in economic and financial policy so that no country or individual is left behind on the path to recovery. This theme also emphasizes the importance of promoting productivity, resilience, and stability, as well as ensuring inclusive and sustainable growth.