Recognizing its digital transformation success, the Islamic Development Bank (IDB) has won “Best Implementation” at the Banker Middle East Industry Awards 2017. Judges praised IDB for having recently launched $745 million in development projects across 56 member countries in the Middle East, Africa, Asia, and Europe. It aims to become a world-class development bank in the Muslim world by 2019.
IDB, a multilateral development financing institution with 57 member countries as shareholders, is now fully delivering on its mandate to foster socio-economic development among its member countries, thanks in large part to the recent transformation of its core banking technology, using SAP.
IDB supports the growing islamic finance, with a recent report by Dinar Standard predicting global Islamic banking assets to nearly double from $2 trillion in 2015 to $3.5 trillion by 2025.
From project finance in the public and private sectors, to development assistance for poverty alleviation, IDB’s systems require absolute transparency for more optimized project financing, sustainable processes that foster accountability, and enriched data analytics for faster decision-making.
Ahmed Al-Faifi, managing director of SAP Saudi Arabia, said: “IDB has made a paradigm shift in the way that it approaches banking. The bank has gone from legacy systems to real-time in only a few years of working with SAP, and has saved tens of millions of Saudi riyals in the process. From analytics technology and development banking operations to finance and human resources, IDB is now operating on par with the world’s very best banks.”
Optimizing processes while reducing risks is central to success for all financial institutions. IDB has increased the urgency to outperform stakeholder expectations, in line with the ambitious objectives of its member countries, Al-Faifi added.
In Saudi Arabia, SAP counts more than 1,000 customers and more than 50 partners, and has localized solutions to more than 25 industries. In the Middle East, more than $1.6 trillion worth of banking assets run on SAP. By 2020, 70 percent of global high-tech revenue will be digital economy-related, according to SAP.
IDB wins Banker Middle East Award for digital transformation using SAP
IDB wins Banker Middle East Award for digital transformation using SAP
Schneider Electric to advance energy technology to power intelligence at Innovation Summit Middle East & Africa
Schneider Electric, a global energy technology leader, has announced that the second edition of the Innovation Summit Middle East & Africa will be held in Abu Dhabi on April 28–29.
The summit will bring together global energy and technology leaders as well as government officials to advance the regional shift toward energy intelligence, as data center growth, AI adoption, and national visions place unprecedented demands on energy systems.
Schneider Electric is advancing its energy technology ambitions with the integration of electrification, automation and digital intelligence, deployed across buildings, data centers, industrial applications and power grids to unlock the full value of energy, and ensure efficiency and sustainability for all.
This year’s summit arrives at a pivotal moment for the Middle East and Africa, as the region experiences exponential growth driven by national visions, giga-projects, and rapid expansion in AI, data centers, and digital infrastructure.
Saudi Arabia stands out within this landscape as one of the most dynamic markets in terms of investment in digital infrastructure and sustainable energy.
With global electricity demand projected to grow at a strong compound annual growth rate of 3.6% over the 2026–2030 period and global AI workloads projected to lead a 160% increase in data center power demand, the imperative for intelligent, sustainable energy solutions has never been more critical.
“Energy today is the foundation of national resilience and competitiveness. With electricity consumption in the Middle East and North Africa having tripled since 2000 and on course to grow at an incremental 3-4% every year to register a whopping 50% by 2035 – driven by surging cooling, desalination, and urbanization demands, the region is at an inflection point,” said Walid Sheta, Zone president, Middle East and Africa, Schneider Electric.
“Innovation Summit Middle East & Africa underscores our dedication to accelerating energy technology innovation and powering energy intelligence throughout the region. This edition will emphasize our emergence as the trusted energy technology partner guiding the region’s next phase of transformation. "
This year’s summit will highlight regional benchmarks from 80+ countries, from the 100% elimination of SF6 and Carbon footprint reduction for fruit producers in South Africa to the savings that EcoStruxure Power & Grid is enabling for the National Electricity Company, Senegal – ensuring recovery times of 3 minutes versus 3 hours earlier.
Blending high-impact programming and latest product launches that position Schneider Electric at the center of MEA's energy transition story, key agenda items include:
CEO Forum in partnership with Forbes Middle East: An exclusive C-suite initiative bringing together 100 business leaders to address strategic imperatives in energy intelligence.
Keynote and Thought Leadership sessions: Featuring executive speakers from industry-leading companies and insights from strategic partners, including Bain & Company.
Innovation Hub experience: Guided tours and live demonstrations, as well as tailored customer experiences of Schneider Electric’s most innovative and integrated energy technology solutions addressing critical challenges in energy efficiency, grid modernization, and digital infrastructure across a 3,000 square feet immersive space.
Stakeholder recognition: Schneider Electric’s dedicated partners will be honored with 20 Cluster awards and five Middle East and Africa awards across four categories – Growth Award, Efficiency Award, Innovation Award, and Sustainability Award, on Day 2 of the Summit.
"Across the Gulf, energy intelligence is becoming the operational reality as public and private sector enterprises race to align with national visions for a decarbonized and sustainable future,” said Amel Chadli, president, Gulf Cluster at Schneider Electric.
“As one of the most local of global companies, Schneider Electric is empowering customers to move beyond electrification and implement AI‑driven, software‑defined energy systems that deliver efficiency, resilience, and sustainability at a national scale. This summit offers a roadmap of what’s next as we continue to redefine the relationship between energy and digital capability.”
With AI, cloud, and high-performance computing becoming foundational to national competitiveness, energy technologies today must evolve and become resilient, sustainable and scalable to meet modern intelligence demands.
Schneider Electric's refreshed positioning as an energy technology partner reflects the company's approach to supporting the region's transformation.
Schneider Electric’s Innovation Summit Middle East & Africa highlights real-world applications across key sectors, including utilities, data centers, commercial buildings, industrial facilities, and critical infrastructure — demonstrating how intelligent energy management enables operational excellence, resilience, and sustainability across the region's most vital projects.
