Islamic Development Bank
| Type | Development Bank |
|---|---|
| Industry | Finance |
| Founded | 1975 |
| Headquarters | Jeddah, Saudi Arabia |
| Key people | Ahmad Mohamed Ali Al-Madani, President |
| Employees | 932 |
| Website | www.isdb.org |
The Islamic Development Bank (IsDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia. It was founded by the first conference of Finance Ministers of the Organisation of the Islamic Conference (OIC, now the Organisation of Islamic Cooperation), convened 23 Dhu'l Qa'dah 1393 AH (18 December 1973). The bank officially began its activities on 15 Shawwal 1395 AH (20 October 1975). There are 56 shareholding member states.[1] On the basis of paid-up capital, the major shareholders of the Bank are, among others:
The IsDB is also a United Nations General Assembly observer.
Contents |
[edit] Membership
The present membership of the Bank consists of 56 countries. The basic condition for membership is that the prospective member country should be a member of the Organisation of Islamic Cooperation (OIC), pay its contribution to the capital of the Bank and be willing to accept such terms and conditions as may be decided upon by the IsDB Board of Governors.
[edit] IDB Group
IDB has evolved into a Group of five Entities, consisting of Islamic Development Bank (IDB), Islamic Research & Training Institute (IRTI), Islamic Corporation for Development of Private Sector (ICD), Islamic Corporation for Insurance of Investment and Export Credit (ICIEC)and International Islamic Trade Finance Corporation (ITFC).
[edit] See also
[edit] References
- ^ Taylor & Francis Group and Dean, 2003, p. 1328.
[edit] Bibliography
- Taylor & Francis Group; Dean, Lucy (2003), The Middle East and North Africa 2004: 2004 (Illustrated ed.), Routledge, ISBN 1857431847, 9781857431841, http://books.google.com/?id=pP315Mw3S9EC&pg=PA1328&dq=Palestine+member+Islamic+countries
[edit] External links
- United Nations General Assembly observers
- Organisations based in Saudi Arabia
- Multilateral development banks
- Banks of Saudi Arabia
- International organizations of the Middle East
- Islamic organizations
- Skyscrapers in Saudi Arabia
- Islamic banks
- International banking institutions
- Organizations established in 1975
