Islamic Development Bank Seeks to Adopt Dr. Yunus’s Microcredit Model

Islamic Development Bank (IsDB) Group Chairman Dr. Muhammad Al Jasser has expressed interest in adopting Nobel Laureate Professor Muhammad Yunus’s innovative microcredit model and development frameworks across IsDB member countries. He made the remarks during a meeting with Professor Yunus at the Yunus Centre in Dhaka on Thursday.

The discussions focused on Professor Yunus's development philosophy, the operations of Grameen Bank, the concept of social business, and his signature "Three Zeros" theory—zero poverty, zero unemployment, and zero net carbon emissions. Dr. Al Jasser stated that the IsDB is exploring ways to introduce microcredit in its member states by learning from Bangladesh's experience. In response, Professor Yunus invited IsDB to dispatch a delegation to closely review Grameen's programs to identify methods suitable for implementation by the bank.

Expressing gratitude to the IsDB Chairman for providing a $1 billion financing package for the Eastern Refinery modernization and expansion project, Professor Yunus noted that the agreement reflects the deep ties between Bangladesh and IsDB, as well as the bank's role as a reliable development partner. The meeting also covered topics such as transforming youth from job seekers into entrepreneurs, the concept of Grameen University, and the expansion of social businesses including digital healthcare initiatives.

The IsDB delegation included International Islamic Trade Finance Corporation (ITFC) CEO Adib Yusuf Al Aama, IsDB Country Programs Department Director General Anas Assiami, and ITFC Trade Finance Department General Manager Abdihamid Abu, alongside other officials. Yunus Centre Executive Director Lamiya Morshed, Grameen Group Chairman Md. Ashraful Hasan, and Grameen Trust Managing Director Tasmina Rahman were also present during the meeting.