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.
H.E. DR Bandar Hajjar
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.
Dr Werner Hoyer
Dr Werner Hoyer is the President of the European Investment Bank (EIB). He took up the post on 1 January 2012 for an initial term of six years and was re-appointed for a second term in office, with effect from 1 January 2018.
From 1994 to 1998 and then again from 1999 until 31 December 2011, he was Minister of State for Europe and Deputy Foreign Minister of Germany. From 2000 until 2005 he served as President of the European Liberal Democrat and Reform Party (ELDR).
During his service at the German Bundestag he held several positions; first as Whip and Security Policy Spokesman of the FDP (Free Democratic Party) Parliamentary Group (1987 – 1993), then subsequently as Deputy Chairman of the German-American Parliamentary Friendship Group and member of the North Atlantic Assembly (NATO). He was also Secretary General of the FDP (1993 – 1994), before becoming Minister of State at the Foreign Office. From 1998 he served as Spokesman of the FDP for Budget Affairs, from 2002 until 2009 for Foreign Affairs and Vice President of the FDP Parliamentary Group.
In 1985, he took up the position as Director of the Economics and Information Department of the Carl Duisberg Society, Cologne. Two years later in 1987, he became a Member of the German Bundestag where he remained until 31 December 2011. Dr Hoyer obtained a PhD in Economics from Cologne University, Germany in 1978 and commenced his career as a senior research assistant at the Cologne University. Shortly afterwards, he was appointed as lecturer in international economic relations.
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.