Saudi Gazette report

RIYADH — Sheikh Abdullah Saleh Kamel, chairman of the Board of Directors of the Islamic Chamber of Commerce and Development (ICCD), launched on Sunday the B57+ group as a global network of business leaders from member states of the Organization of Islamic Cooperation (OIC). The network aims to enhance economic and trade cooperation among member states and enable sustainable partnerships between the public and private sectors.

Sheikh Kamel made the announcement during his address at the Business Leaders Summit 2025, which kicked off in Istanbul, Turkiye. Representatives from 57 OIC member countries and leaders of financing, investment, and development institutions from the Islamic world are attending the summit, organized by the Islamic Chamber of Commerce and Development. The summit, with the theme of “The Private Sector as a Strategic Partner for Sustainable Development,” is being held in the presence of Turkish Minister of Trade Dr. Ömer Bolat and President of the Islamic Development Bank Group Dr. Mohamed Al-Jasser.

Sheikh Kamel said that the launch of the group comes in response to the need of Islamic countries for an effective platform that brings together economic leaders and decision-makers to unify efforts towards integrated and sustainable economic development. “The B57+ group represents the long-awaited comprehensive platform to be the link between business leaders and decision-makers from the 57 member states of the OIC. This group will move economic relations from the stage of dialogue to deal-making and practical integration, thus enhancing the transformation of ideas into realistic development projects,” he emphasized.

Sheikh Kamel said that the annual B57+ Summit, held as part of the B57+ Business Leaders Summit on the sidelines of the meetings of the Committee for Economic and Commercial Cooperation of the OIC (COMCEC), will be more than just a traditional conference. It will serve as a practical platform for striking deals, exchanging solutions, and coordinating efforts between the public and private sectors.

He emphasized that the initiative's success will be measured by its ability to stimulate intra-Islamic trade, the number of partnerships signed, and its impact on the economic policies of member states. "With this new initiative, we are establishing a system of economic integration within our Islamic countries. Therefore, throughout my long career, I have believed in the necessity of genuine partnership between the public and private sectors, and in mobilizing and coordinating efforts for a more prosperous future for our nations," he said.

Sheikh Kamel stated that the B57+ group will work to build a cohesive Islamic economic network that contributes to shaping development policies, promoting joint investment, and providing a stimulating environment for young entrepreneurs, which will positively impact the economies and societies of member states.

He affirmed that the initiative represents a strategic pillar of the efforts of the OIC and the COMCEC in achieving economic integration. “The chamber, through this step, seeks to establish a practical roadmap to stimulate intra-trade and expand the presence of the Islamic private sector in global markets, as well as repositioning it as an active partner in building the future of the global economy,” he added.

The Business Leaders Summit 2025 is organized in partnership with the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) and the Union of Chambers and Commodity Exchanges of Turkey (TOBB), with the participation of the OIC Arbitration Centre as a strategic partner. The summit also features the Islamic Cooperation Youth Forum (ICYF) as a youth partner, embodying a shared commitment to driving innovation, empowering future generations, and strengthening cooperation within the global Islamic business ecosystem.

It is noteworthy that the Islamic Chamber of Commerce and Development (ICCD) is an international non-governmental organization affiliated with the OIC. Established in 1977, it is the largest representative of the private sector in Islamic countries. The ICCD's membership comprises national chambers of commerce and industry from member countries. It aims to promote cooperation in trade, information technology, insurance and reinsurance, shipping, finance and banking, investment opportunities, and the development of joint ventures.