Banking and Finance

Banking and Finance

The Islamic Development Bank (IDB) is a South-South development finance institution established in 1975 with the aim of fostering economic development and social progress of its member countries as well as Muslim communities in non-member countries. 
It operates in accordance with the principles of Shari’ah (Islamic law). Over the past forty-two years, the IDB has contributed to the socio-economic development of its member countries. 

The mission of IDB is to promote comprehensive human development, with a focus on the priority areas of alleviating poverty, improving health, promoting education, improving governance and prospering the people. 

During the last 42 years, the IDB has grown remarkably in membership, capital, and operations as well as having undergone significant transformation with a view to serving its mandate better. 

The membership of IDB has increased more than twofold from 22 countries at its inception in 1395H to 56 countries in 1436H, spanning four continents (Africa, Asiam Europe and Latin America). The IDB Group has evolved from a single entity into a group comprising of five entities: Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI), Islamic Corporation for the Development of the Private Sector (ICD), Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and International Islamic Trade Finance Corporation (ITFC). Together, they are called IDB Group (the Group). 


The IDB’s capital comes from the contributions paid by member countries. IDB’s authorized capital has increased from ID2 billion in 1395H (1975) to ID100 billion in 1436H (2015). The issued capital was ID50 billion with 98.6 percent of this amount subscribed by member countries so far.


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