Amer Bukvić, CEO of Bosna Bank International (BBI), and Abdulla Al-Awar, CEO of Dubai Islamic Economy Development Centre (DIEDC), signed a Memorandum of Understanding in Dubai today. The agreement will aim to foster the collaborative efforts between both Dubai and Bosnia and Herzegovina to develop the Islamic Economy sectors between the two markets and leverage from the knowledge that the Dubai Islamic Economy Development Centre and its stakeholders have achieved in this area.

Bosna Bank International is the first bank in Bosnia and Herzegovina and Southeast Europe operating in accordance with Islamic principles. It launched operations in 2000 with its shareholders – the Islamic Development Bank Group, Dubai Islamic Bank and Abu Dhabi Islamic Bank.

For the last ten years, BBI has been among the fastest growing banks in Bosnia and Herzegovina. Since 2010, BBI and its BBI VIP Business Club have organized the Sarajevo Business Forum, an international investment conference that has earned a prestigious global reputation. Along with its UAE and GCC partners in 2018, BBI initiated the Sarajevo Halal Fair (SHF), an international halal industry event that positions Sarajevo and Bosnia and Herzegovina as a hub for, and a gateway to, the European halal market.

“Bosna Bank International, through the International investment conference Sarajevo Business Forum and the international halal industry Sarajevo Halal Fair, strives to give companies in Bosnia and Southeast Europe a chance for business connections and opportunities, networking and realisation of business ideas. We want to see our companies, clients and partners establish fruitful business connections. Since we focus mainly on small and medium enterprises, one goal is to help them create quality connections with companies abroad,” said Amer Bukvić, CEO of Bosna Bank International.

DIEDC was established in 2013 under the supervision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai and General Supervisor of the Dubai: The Capital of Islamic Economy initiative, to transform Dubai into the global capital of the Islamic economy.

For his part, Abdulla Al Awar, CEO of DIEDC, said: “DIEDC is keen to develop strategic partnerships with international organisations to build a robust framework and comprehensive ecosystem based on Islamic economy principles and regulations. As the first Sharia-compliant bank in Bosnia and Herzegovina, BBI is an ideal partner to provide local insights that can facilitate deeper synergies in exploring innovative solutions to address the challenges facing both markets, as well as the global Islamic economy. We are confident that this MoU will lead to fruitful exchange of knowledge and greater engagement to strengthen the reach and impact of Islamic economy.”

BBI and DIEDC share a mutual interest in promoting the Islamic economy and halal industries in Bosnia and Herzegovina and South East Europe in areas such as tourism, Islamic finance, takaful, agriculture and food production.

Members of the BBI VIP Business Club from Bosna Bank International have opportunities to generate new business and to present themselves and their products and services abroad. This Memorandum will further open the UAE market and strengthen its connections to Bosnia and Southeast Europe.