​The IsDB’s Board of Governors responded to HE Dr. Ahmad Mohamed Ali’s decision to retire, during their 41st annual meeting in Jakarta, Indonesia, and anonymously elected Dr. Bandar bin Mohammed Hajjar as the Bank’s new President for new period. His Excellency  the Minister of Finance, in his speech to the Board of Governors, expressed his sincere gratitude to contributions that HE Dr. Ahmad Mohamed Ali has made to establish the Bank and for his help laying the foundation of its growth and success until it became and gained distinguished deservedly position on global  map of international development and among regional and international funding institutions.
HE Dr. Ibrahim bin Abdulaziz Al-Assaf  the Minister of Finance  and the Governor of the Islamic Development Bank for the Kingdom of Saudi Arabia, has expressed  in his speech to the Council, the appreciation of Kingdom to  HE Dr. Ali's great  and persistent efforts during his service to the bank and  to the Group, stressing that he has a great enthusiasm, exemplary ability, dedication, sincerity and commitment beyond comparison, as he did not fail to attend or absent himself, even did  attend too late, to any meetings of the bank's managers Council  (312), three hundred and twelve meeting over a period exceed more than forty years, also he did not fail to attend or being absent from work, even he did not come late or absent  for any day every morning. He is also characterized by self-forgiveness and  selflessness (even if it is his right).
HE the Minister of Finance noted that HE Dr. Ali has a high moral values, modest and perfect companionship,  patient,  open minded,  great ‎competence and high technical and professional ability. He is considered as a reference in the development and in the Islamic banking and finance. This was embodied through the  great respect and  highly praise expressed by all Member States and the Board of Governors on every occasion and opportunity. He was elected unanimously at each renewal of his presidency. Nonetheless, most of the Member States expressed that HE Dr. Ali is their candidate and is not only the candidate for the Kingdom of Saudi Arabia.
His Excellency the Minister  expressed confidence that the retirement of HE Dr. Ali does not mean that he is staying away from this group and even from the scene of development and the Islamic banking and finance, HE Dr. Ali is one  of  the unique and noble characters that give generously and will not refrain, after retirement, from serving and securing his country .
His Excellency pointed out that the Kingdom of Saudi Arabia under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, may God protect him, and  as an embodiment of its policy to support the group of Islamic bank's continuous development, in order to enable its leading role in serving our Member States and Muslim communities in non-member States, was keen to search for a  qualified candidate who met the professional and technical conditions and has a distinctive manners and a practical biography, in addition, he should have  good personal characteristics that are necessary to the leadership of this task. These are founded in HE Dr. Bandar bin Mohammed Hajjar , the right candidate.
On this occasion His Excellency the Minister of Finance extended the Kingdom's thanks for the Member States represented by the Board of Governors, who approved and unanimously elected HE Dr. Bandar bin Mohammed Hajjar, noting that it is a recognition of Kingdom 's role and large continuous support – the headquarters state. It is also an embodiment of the keenness of our Member States to continue the group's role, its development and growth so that the group can respond efficiently and effectively to the new requirements\of growth.
Nonetheless, His Excellency expressed his confidence that the Member States will continue to support HE Dr. Bandar Hajjar ,with the same power, in order to enable  him to carry out this big task. His Excellency also expressed his confidence that the Board of Directors, members of the boards of the institutions of the group; all workers, either men or women, in the finance  group,  will support and cooperate with HE Dr. Hajjar in order to achieve the goals of the group and to contribute to its development and growth.