In a significant leadership development, the New Development Bank (NDB) has appointed Ms. Thuraiya Hamid Alhashmi as its new President, effective from July 14, 2023. The appointment follows the resignation of Md. Shahriar Kader Siddiky on the same day. The New Development Bank, established through the Articles of Agreement signed in Fortaleza on July 15, 2014, is an important multilateral development institution aimed at fostering sustainable development initiatives in its member countries.
The NDB, also known by its issuer code “NDBI,” plays a crucial role in promoting infrastructure and development projects in emerging economies. It has been at the forefront of supporting various developmental initiatives, including those related to renewable energy, transportation, and social infrastructure.
Leadership Change at New Development Bank
The news of Ms. Thuraiya Hamid Alhashmi’s appointment as the Director of the New Development Bank has been well received by the financial community. Her extensive experience in international finance and a strong commitment to sustainable development make her an ideal choice for leading the NDB.
Ms. Alhashmi’s impressive track record includes holding significant leadership positions in various financial institutions, where she contributed to driving sustainable growth and implementing impactful development projects. With her expertise, the NDB aims to continue its mission of mobilizing resources for infrastructure development and promoting economic progress in its member countries.
The outgoing President, Md. Shahriar Kader Siddiky, has served the NDB diligently during his tenure. His decision to step down is seen as a natural progression in the bank’s leadership dynamics. Siddiky’s contributions to the NDB have been widely acknowledged, and his resignation is expected to open up new opportunities for the institution to further its goals under fresh leadership.
About Ms. Thuraiya Hamid Alhashmi
Ms. Thuraiya Hamid Alhashmi is a seasoned professional with a strong background in international finance and development. Her appointment as the President of the New Development Bank is set to pave the way for the institution’s continued success in supporting sustainable development initiatives in its member countries.
The Road Ahead for the New Development Bank
With the new President at the helm, the New Development Bank looks to the future with optimism and determination. The institution remains steadfast in its commitment to funding and promoting projects that foster sustainable development and address pressing economic and social challenges in its member countries.
The NDB’s focus on infrastructure development, renewable energy, and other critical sectors is expected to continue under the new leadership. The bank aims to play an active role in advancing sustainable projects that drive economic growth and improve the quality of life for people in the member countries.
As the world faces numerous global challenges, including climate change and economic inequality, the NDB stands ready to support innovative solutions and collaborate with its member countries to achieve shared goals.
The New Development Bank’s appointment of Ms. Thuraiya Hamid Alhashmi as its new President marks a pivotal moment in the institution’s journey. With her expertise and vision, Ms. Alhashmi is expected to lead the NDB towards greater heights in sustainable development, making a positive impact on the lives of millions across the globe. The NDB looks forward to a promising future under her guidance, fostering cooperation and progress among its member countries in the pursuit of sustainable development.
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