Islamic Development Bank
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| Type | Development Bank |
|---|---|
| Industry | Finance |
| Founded | 1975 |
| Headquarters | Jeddah, Saudi Arabia |
| Key people | Ahmad Mohamed Ali Al-Madani, President |
| Employees | 932 |
| Website | Official website |
The Islamic Development Bank (IsDB) is a multilateral development financing institution located in Jeddah, Saudi Arabia. It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the Organisation of Islamic Cooperation).
The bank officially began its activities on 20 October 1975, inspired by King Faisal.[1] There are 56 shareholding member states.[2] Mohammed bin Faisal is the former president of the IsDB.[3]
On the basis of paid-up capital, major shareholders include:[4]
The IsDB is an observer at the United Nations General Assembly.
Contents |
Membership [edit]
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.
IDB Group [edit]
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 the Private Sector (ICD), Islamic Corporation for Insurance of Investment and Export Credit (ICIEC) and International Islamic Trade Finance Corporation (ITFC).
See also [edit]
| Organisation of Islamic Cooperation |
|---|
| Economy |
| Education |
| Member states |
| Parliamentary Union |
References [edit]
- ^ Epstein, Matthew (September 2003). "“Saudi Support for Islamic Extremism in the United States"". Islam Daily. Retrieved 22 April 2012.
- ^ Taylor & Francis Group and Dean, 2003, p. 1328.
- ^ Traute Scharf (1983). Arab and Islamic Banks: New Business Partners for Developing Countries. OECD Publishing. p. 81. ISBN 978-92-64-12562-9. Retrieved 4 March 2013.
- ^ ""IDB Group in Brief"". Retrieved 3 August 2012.
- Taylor & Francis Group; Dean, Lucy (2003), The Middle East and North Africa 2004: 2004 (Illustrated ed.), Routledge, ISBN 1-85743-184-7, 9781857431841 Check
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