2015 Annual World Bank Report

In its annual report under the subject of advancing inclusive development and opportunities, the World Bank stated Islamic finance can expand the number of adults with financial access and enhance overall financial sector development.

Islamic Finance Promotes Risk Sharing and Connection with Real Economy

The report stated, “Islamic finance promotes risk sharing, connects the financial sector with the real economy, and emphasizes financial inclusion and social welfare. The Bank’s involvement in Islamic finance is linked to its work on reducing poverty, expanding access to finance, and building financial sector stability and resilience. In fiscal 2015, the Bank helped Egypt and Turkey to design Sharia compliant frameworks to expand financing for small and medium-size enterprises”

Download Full Report

World Bank Annual Report 2015 EN  (11MB)

Keynote Address by Abayomi Alawode, Head of Islamic Finance, The World Bank

In the following video, the head of Islamic Finance at the World Bank, Abayomi Alawode delivers a keynote address at the World Bank Annual Conference on Islamic Banking and Finance held in November 2014 in Manama, Kingdom of Bahrain. The conference was organised in partnership with the World Bank, and was held under the auspices of the Central Bank of Bahrain.