JEDDAH, Saudi Arabia, April 2026 The Islamic Development Bank Institute (IsDB Institute) 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, marking an important step toward strengthening Islamic finance offerings and expanding access to Shariah-compliant financial services in the Maghreb region.
The Grant Agreement provides a framework for IsDB Institute to extend technical assistance to BMICE in developing the institutional, regulatory, operational, and capacity-building requirements necessary for the establishment and effective functioning of the Islamic Window. The support will contribute to developing a sound and sustainable framework for Islamic finance operations within the Bank, in line with applicable regulatory requirements and internationally recognized Islamic finance principles and standards.
Through this cooperation, IsDB Institute will support BMICE in strengthening its institutional readiness and human capital, developing appropriate Islamic finance products and operational processes, and addressing the legal, regulatory, and Shariah considerations relevant to the establishment of the Islamic Window. The initiative is also expected to contribute to enhancing BMICE’s ability to respond to the growing demand for Shariah-compliant financial solutions in the Maghreb region.
The partnership reflects the shared commitment of IsDB Institute and BMICE to advancing Islamic finance as a tool for financial inclusion, private-sector development, and sustainable economic growth. By introducing Islamic finance services within BMICE, the initiative has the potential to broaden financing opportunities for businesses, entrepreneurs, and other economic actors, while supporting the development of a stronger regional Islamic finance ecosystem across the Maghreb.
The signing of the Grant Agreement further strengthens the cooperation between IsDB Institute and BMICE and demonstrates the Institute’s commitment to supporting its Member Countries and regional financial institutions in developing effective and enabling Islamic finance frameworks.
About the Islamic Development Bank Institute
The Islamic Development Bank Institute (IsDB Institute) is the knowledge and capacity development arm of the Islamic Development Bank Group. It advances economic development in Member Countries through research, policy advice, capacity building, and technical assistance in Islamic economics and finance. The Institute works with governments, financial institutions, regulators, and other stakeholders to develop innovative and sustainable solutions based on Islamic finance principles.
About BMICE
The Maghreb Bank for Investment and Foreign Trade (BMICE) is a regional financial institution established to support investment, trade, and economic cooperation among the countries of the Maghreb region. BMICE serves the five Maghreb countries – Algeria, Libya, Mauritania, Morocco, and Tunisia – and aims to contribute to the development of regional economic integration by facilitating investment and financing and supporting cross-border trade and business activities. Through its regional mandate, BMICE provides a platform for strengthening financial and economic cooperation among the Maghreb countries.
