Advancing Food Security through Islamic Finance: Key Discussions at ADFIMI Meeting in Saudi Arabia
The Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI) recently held its 76th management committee meeting and 40th general assembly meeting in Jeddah, Saudi Arabia. The primary agenda of the meetings revolved around food security, with key stakeholders deliberating on strategies to address this crucial issue.
During the meetings, Agrobank president and CEO Datuk Tengku Ahmad Badli Shah Raja Hussin, who chaired the gathering, made an important announcement. Agrobank will soon launch a unique agricultural-based takaful program aimed at providing basic protection to communities against losses, especially those caused by natural disasters. This innovative initiative reflects the bank’s commitment to supporting the farming sector and enhancing food security.
Tengku Ahmad emphasized the importance of capacity-building in the agricultural sector, focusing on educational programs for farmers and the promotion of affordable modern technologies and best practices. In addition to addressing immediate food demands, he highlighted the significance of sustainable agriculture that considers the long-term impact on natural resources.
ADFIMI, as an influential association, aims to leverage collective expertise to implement policies and forge strategic collaborations that promote sustainable practices. The management committee and general assembly meetings provided a platform for delegates from 57 member countries to engage in discussions regarding food security, sustainable agriculture, and the role of Islamic finance in addressing these critical issues.
The three-day program hosted by the Islamic Development Bank Group created a conducive environment for sharing knowledge and fostering collaboration. The event highlighted the urgency of enhancing food security and underscored the pivotal role of Islamic finance in tackling this challenge. By combining the principles of Islamic finance with sustainable agricultural practices, countries can work towards ensuring a more resilient and secure food supply for their populations.
Overall, the ADFIMI meeting in Saudi Arabia focused on advancing food security through Islamic finance and sustainable agriculture. The discussions and initiatives undertaken during the event exemplified the commitment of member countries to address the pressing issues of food scarcity and promote long-term sustainability in the agricultural sector.
Read further here: https://www.thestar.com.my/metro/metro-news/2023/05/26/meeting-in-saudi-arabia-seeks-to-boost-food-security-via-islamic-finance
