Jeddah: The Islamic Development Bank Institute (IsDBI) hosted a high-level delegation from the Universal Postal Union (UPU) to discuss potential collaboration on Digital Postal Islamic Financial Services.
UPU representatives Ihab Zaghloul, Juan Moroni, and Hashim Elhaj, along with Farrukh Raza from Islamic Finance Advisory and Assurance Services (IFAAS), met with Dr. Sami Al-Suwailem, Acting Director General of IsDBI, to explore ways to integrate Islamic finance principles into postal financial services.
The discussions focused on enhancing financial inclusion, diversifying revenue streams for postal operators, and providing ethical financial solutions to underserved communities. This aligns with the Digital Postal Islamic Financial Services Project, which aims to leverage postal networks and digital platforms to offer Shariah-compliant financial services, particularly in regions with limited banking access.
As a UN agency, the UPU plays a key role in international postal cooperation across its 192 member countries. IsDBI, the knowledge and innovation arm of the Islamic Development Bank (IsDB), develops Islamic financial solutions to support sustainable economic growth in its 57 member countries.
