Ahmed Mohamed Ali, First Islamic Development Bank president
First Bank
Ahmed Mohamed Ali is one of the most prominent figures whose name shone strongly in the world of Islamic economics, as he was one of the first founders and supporters of the Islamic banking movement and participated in the establishment of most Islamic institutions and banks during the past four decades.
Ali was born in Medina, Saudi Arabia, in 1934, and obtained a bachelor’s degree in commerce and a bachelor’s degree in law from Cairo University in Egypt, as well as a master’s degree in arts and a PhD in public administration from New York State University and the United States of America in 1962 and 1967.
He was the first to hold the position of president of the Islamic Development Bank in 1975, and his term lasted for about 42 years, which he spent in the service of the member states.
He managed to transform the Islamic Development Bank Group into an effective and influential financial and economic network on the Islamic and global scene, as it includes under his management the Islamic Corporation for the Insurance of Investment and Export Credit, which provides insurance for companies by playing a role similar to the role played by the International Agency for Investment Guarantee affiliated with the World Bank, in addition to the Islamic Corporation for the Development of the Private Sector, which is the arm of the Islamic Development Bank Group responsible for lending to the private sector, and the Islamic Institute for Research and Training, which works to provide the necessary services to the countries to achieve compatibility between the economic, financial and banking activities of these countries and the provisions of Islamic law.
He also held several positions in the Ministry of Education in 1957, in addition to holding the position of Acting President of King Abdulaziz University from 1967 to 1972, and he also held the position of Deputy Minister of Education for Technical Affairs from 1972 to 1975, and he was appointed Secretary General of the Muslim World League.
Ahmed Mohamed Ali received many honors during his career, as he won many awards, the most prominent of which was the King Faisal Prize in appreciation of his great achievements in managing the Islamic Development Bank.
