Azerbaijan’s Minister of Economy, Mikayil Jabbarov, has been appointed Chairman of the Board of Governors of the Islamic Development Bank (IsDB) Group. The 2026 Annual Meeting of the IsDB Group will be held in Azerbaijan.

A host country handover ceremony was held in Algeria to mark the occasion. During the event, Mikayil Jabbarov expressed his deep gratitude to the Islamic Development Bank Group for the high level of trust placed in Azerbaijan.

Recalling Azerbaijan’s successful hosting of the Bank's 35th Annual Meeting in 2010, the minister emphasized that holding this prestigious event in Azerbaijan once again would further strengthen cooperation with Islamic financial institutions, open new avenues for investment, and contribute to sustainable economic development.

As part of the event, a Memorandum of Understanding was signed outlining the facilities to be provided for the IsDB Group Annual Meeting in Azerbaijan.