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December 9, 2024 | 01:48 pm
TEMPO.CO, Riyadh - Finance Minister Sri Mulyani Indrawati met with her Saudi Arabian counterpart, Mohammed Al-Jadaan, during the "Zakat, Tax and Customs Conference" held in Riyadh on December 4-5, 2024. The meeting was documented by Minister Sri on her official Instagram account @smindrawati.
Both ministers, alongside Bahrain's Finance Minister Shaikh Salman bin Khalifa Al Khalifa and India's Minister of State in the Ministry of Finance Shri Pankaj Chaudhary, participated as panelists, exploring strategies for leveraging global fiscal governance to drive economic recovery and growth.
In her address, Sri shared Indonesia's experience in navigating economic recovery post-pandemic, highlighting the challenges and successes of its fiscal policies, tax reforms, and global fiscal governance initiatives.
She acknowledged that Middle Eastern countries are undergoing financial reforms, fiscal policies, and tax matters including customs and zakat. “We can learn a lot about economic and fiscal policies, economic diversification, and economic transformation from other countries, including Saudi Arabia and other Gulf States,” she emphasized.
In addition, Sri also met with President of the Islamic Development Bank (IsDB) Dr. Muhammad Sulaiman Al Jasser. IsDB is a multilateral development financial institution focusing on Islamic finance for infrastructure development, headquartered in Jeddah, Saudi Arabia.
In the meeting, the two discussed development challenges for IsDB member countries and the direction and strategic framework of IsDB's operations for the next ten years.
“President Al Jasser expects my presence at the meeting in Madinah in early 2025 to discuss IsDB's future strategic framework,” the Minister wrote.
Al Jasser outlined the reforms within the IsDB, encompassing operational procedures, business models, financial instruments, and pricing structures. Sri emphasized the importance of these reforms for IsDB member countries, particularly those with low incomes and limited fiscal resources.
Sri Mulyani also encouraged the diversification of IsDB's staff and management from Indonesia as the third-largest shareholder in IsDB. She emphasized that this increased representation is crucial to ensure the active participation and advancement of Indonesian professionals in international organizations, safeguarding the country's interests and contributing effectively to global development efforts.
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