Regional Development Banking Leaders Elected in September
The Association of Development Financing Institutions in Asia and the Pacific appointed two new vice-chairmen.
Updated on Oct. 3, 2026 in People
Filimone Waqabaca and Hussain Al-Lawati were elected as vice-chairmen of the Association of Development Financing Institutions in Asia and the Pacific in September 2026. The appointments were finalized during the organization's 100th board meeting held in Colombo, Sri Lanka.
Why it matters
These appointments integrate leadership from the Fiji Development Bank and the Development Bank of Oman into the association's governance. This structure aims to deepen cooperation and knowledge sharing across 42 member countries.
The Association of Development Financing Institutions in Asia and the Pacific represents 97 member institutions across 42 countries. The leadership election took place during the organization's 100th board of directors meeting.
The players
Filimone Waqabaca
He serves as the chief executive officer of the Fiji Development Bank.
Hussain Al-Lawati
He serves as the chief executive of the Development Bank of Oman.
Association of Development Financing Institutions in Asia and the Pacific
This organization connects 97 member institutions to promote development finance across 42 countries.
The details
Filimone Waqabaca, the chief executive officer of the Fiji Development Bank, was elected second vice-chairman, while Hussain Al-Lawati, chief executive of the Development Bank of Oman, was elected first vice-chairman. Both leaders assumed their roles during the proceedings in Sri Lanka.
Timeline
The election occurred during the 100th board meeting in September 2026.
Market Landscape
The election follows the governance cycle and leadership rotation established by the Association of Development Financing Institutions in Asia and the Pacific. This shift strengthens regional cooperation between development banks as they navigate common financial challenges.
These appointments signal potential changes in how development banks in Fiji and Oman share institutional resources. Customers of these banks may eventually see updated financing programs or collaborative regional lending initiatives.
The takeaway
Effective leadership in international banking associations is critical for maintaining robust regional development strategies. Collaborative knowledge sharing between these institutions often leads to more efficient allocation of development capital.
Further reading
For more context on executive moves and leadership updates, visit the People section.
