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ISLAMABAD, Feb 02 (APP):The D-8 Organization for Economic Cooperation and the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI) have agreed to work together on development finance, training, small business support, and Halal economy initiatives.
The understanding aims to link policy goals with on-ground projects across D-8 member states, said a press release issued here on Monday.
The agreement was reached during a meeting between D-8 Secretary General Ambassador Sohail Mahmood and an ADFIMI delegation led by its Secretary-General Ilhami Öztürk. Both sides discussed ways to build cooperation that supports economic activity, improves access to finance, and strengthens institutions in member countries.
Ambassador Sohail Mahmood said development finance institutions play a key role in economic growth across D-8 states. He noted that cooperation should focus on results, with clear links between agreed frameworks and project delivery. He stressed that partnerships need to support member countries in meeting development needs through practical tools and shared work plans.
Ilhami Öztürk briefed the meeting on ADFIMI’s role as a platform that brings together national development finance institutions from Islamic Development Bank member countries. He said ADFIMI can act as a link between the D-8 and the Islamic Development Bank by using its network to support project execution, staff training, and the exchange of working methods. The delegation shared views on how this network can help align financing with national priorities.
Discussions covered joint programmes for skills development and training for banks and financial institutions in D-8 countries. Both sides agreed on the value of sharing models that have worked in member states. Türkiye’s ILBANK was discussed as a reference for financing local and municipal development. Participants said such examples can guide similar efforts in other countries.
The meeting also noted common ground between D-8 priorities and ADFIMI’s work in Halal trade finance and microcredit for small and medium enterprises. Participants said cooperation in these areas can help expand access to finance for businesses and support trade within and among member states.
In a wider briefing, the D-8 Secretary General informed the delegation about the upcoming 12th D-8 Summit to be held in Jakarta. He shared details of planned side events, including meetings linked to business and the Halal economy. The two sides also discussed the option of holding joint engagements alongside the Islamic Development Bank Annual Meetings in 2026.
The meeting ended with both organizations agreeing to move forward with practical cooperation. This includes capacity-building programmes, knowledge sharing, and coordinated outreach to institutions in member states. Both sides said continued engagement will help strengthen development finance systems and support economic participation across D-8 countries.
The agreement reflects a shared approach to cooperation, with a focus on implementation and coordination. Through joint action, the D-8 and ADFIMI aim to support member states in meeting development goals through structured finance, training, and institutional links.