IsDBI and BMICE Sign Grant Agreement to Establish Islamic Window
The Islamic Development Bank Institute (IsDBI) and the Maghreb Bank for Investment and Foreign Trade (BMICE) have signed a grant agreement to support the establishment of an Islamic window within BMICE.
The agreement was signed on 12 August 2026 at the Islamic Development Bank Headquarters in Jeddah, Saudi Arabia. It provides a framework for IsDBI to provide technical assistance to BMICE in developing the institutional, regulatory, operational and capacity-building requirements for establishing and operating the Islamic window.
According to the IsDBI announcement, the support will contribute to developing a framework for Islamic finance operations within BMICE in line with applicable regulatory requirements and internationally recognised Islamic finance principles and standards.
The cooperation will cover areas including institutional readiness and human capital, Islamic finance products and operational processes, as well as legal, regulatory and Shariah considerations relevant to the establishment of the Islamic window.
The initiative is also intended to support BMICE in responding to demand for Shariah-compliant financial solutions in the Maghreb region. The IsDBI said the partnership reflects the commitment of both institutions to advancing Islamic finance in areas including financial inclusion, private-sector development and sustainable economic growth.
The announcement added that the establishment of Islamic finance services within BMICE could broaden financing opportunities for businesses, entrepreneurs and other economic actors while supporting the development of the regional Islamic finance ecosystem.
The signing further strengthens cooperation between IsDBI and BMICE, with the Institute continuing to support member countries and regional financial institutions in developing Islamic finance frameworks.
Source: Islamic Development Bank Institute (Official Announcement)
