Investing for Sustainability

Monday, 11th November 2019

The Islamic Development Bank (IsDB) is pleased to announce the second annual Sukuk Summit to be held in Luxembourg in partnership with the Ministry of Finance of the Grand Duchy of Luxembourg.
The Summit will bring together Government Ministers, Central Bank Governors, business leaders, academics and industry experts to discuss global developments in the Sukuk-led Islamic Capital Markets and the synergies with the European financial industry. It will feature keynote speeches as well as dedicated panel discussions on Green Sukuk and sustainable financing, on the role of Fintech in Sukuk and on building partnerships with the public sector. 

VIP Speakers

H.E. DR Bandar Hajjar

President, IsDB

Dr. Bandar M.H. Hajjar has been President of the Islamic Development Bank since 2016. As development enters a new era, Dr. Hajjar is reimagining the traditional role of a development bank. Through his strategic programme, the IsDB is empowering people for a sustainable future by building global partnerships and driving innovation through a value chain approach to development. Prior to this appointment, he served as Minister of Hajj between 2011- 2016, where he introduced 25 initiatives to develop and enhance the services provided to the Hajj and Umrah performers. 

Doctor Bandar Hajjar was awarded a bachelor's degree with First-Class Honours in Economics and Political Sciences from King Saud University, Riyadh, and a master's degree in Economics from Indiana University, USA. In 1982, he returned to Saudi Arabia, where he worked as a lecturer for four years. In 1986, he attended Loughborough University in the United Kingdom on a scholarship, where he received a Ph.D. in Economics.

Dr. Hajjar is also a Chairman at the Coordinating Council for Monitoring Municipal Elections Dr. Hajjar formed a coordinating council of seven NGOs under the umbrella of the National Society for Human Rights to monitor the first municipal elections held in Saudi Arabia in 2005. The Council deployed approximately 1,500 volunteer citizens to all cities in the Kingdom and issued daily statements in both Arabic and English explaining the election instructions, regulations, and outcomes.

Dr. Hajjar was appointed Acting Minister of Culture and Information in addition to his responsibilities as Minister of Hajj for approximately one month and a half until a new minister of culture and information was in place.

Dr. Hajjar has served as a member of several national and international bodies, including the Board of Trustees of Takaful Charity Organization, which sponsors orphans and needy students, the World Council for Supporting the Prophet Muhammad (PBUH), the Disabled Children Association, and the World Islamic Council for Economy and Finance.

Pierre Gramegna

Minister of Finance, Luxembourg Government 

Pierre Gramegna was born on 22 April 1958 in Esch-sur-Alzette. 

Pierre Gramegna had first joined the government as Minister of Finance on 4 December 2013, after the legislative elec- tions of 20 October 2013. 

As Minister of Finance, Pierre Gramegna has initiated major reforms to balance the budget and to align Luxembourg’s tax rules with international transparency standards. Thanks to these efforts, Luxembourg’s AAA rating has been consis- tently confirmed by all major rating agencies and, in 2015, the Global Forum on Transparency and Exchange of Information for Tax Purposes upgraded Luxembourg to “largely compliant”. Furthermore, in 2014, Pierre Gramegna established Luxembourg’s sovereign fund for the benefit of future generations. 

Following the legislative elections of 14 October 2018, Pierre Gramegna was re-appointed Minister of Finance on 5 December 2018 in the coalition government formed by the Democratic Party (DP), the Luxembourg Socialist Workers’ Party (LSAP) and the Green Party (déi gréng). 

Pierre Gramegna is also a promoter of the diversification of Luxembourg’s financial centre, in particular with regard to FinTech and sustainable finance. He is the initiator and presi- dent of the LHoFT Foundation, which runs the Luxembourg House of Financial Technology. He has also further developed bilateral relations with China in the financial sector and since he took office, four additional Chinese banks have chosen Luxembourg as their EU hub. 

Regarding his education, following his secondary school studies in Esch-sur-Alzette (classical mathematics section) Pierre Gramegna pursued studies in law and economics at the Université Panthéon- Assas (Paris II), where he was awarded a master’s degree in civil law in 1981 and a degree in economic sciences in 1982. He completed his post-university education with a DEA (post- graduate diploma of advanced studies) in European Union law. He was awarded the title of doctor honoris causa from the Sacred Heart University of Luxembourg. 

Robert Scharfe

CEO of the Luxembourg Stock Exchange

Robert Scharfe is the CEO of the Luxembourg Stock Exchange since 2012 and he is a member of the Board of directors of the Federation of European Securities Exchanges as well as the Chairman of the Nomination Committee of the World Federation of Exchanges.

He’s a recognized expert in Capital Markets matters and a specialist in Green finance.

Before joining the Luxembourg Stock Exchange, he spent 35 years in the Banking industry, mostly in Corporate Finance and Financial Markets. Between 2000 and 2012 he was a Member of the Management Board of BGL BNP Paribas in Luxembourg. During that time he also assumed senior responsibilities within Fortis Bank in the areas of Institutional Banking and Global Markets.

During his banking career, he acquired extensive knowledge in International Capital Markets and gained solid experience in Asset Management and Investment Funds.

He holds a Master’s Degree in Economics from the University of Nancy and he is an alumnus of Insead and Stanford Graduate School of Business, Palo Alto.


  • Green Sukuk: Implementing a sustainable financial apparatus to achieve the SDGs

  • FinTech in Sukuk and Islamic Capital Markets

  • Engaging the public sector: Building partnerships with the public sector to integrate Sukuk opportunities