Islamic Development Bank

From Wikipedia, the free encyclopedia

(Redirected from Islamic Bank of Development)
Jump to: navigation, search
Principal shareholders of the IDB shown in green.
Principal shareholders of the IDB shown in green.

Islamic Development Bank (also known as IDB), is a multilateral development financing institution. located in Jeddah, Saudi Arabia. It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), convened 18 December 1973. The bank officially began its activities on 15 Shawwal 1395H (20 October 1975). On the basis of paid-up capital, the main shareholders of the Bank are from these countries:

The purpose of the Bank is to foster the economic development and social progress of member countries and Muslim communities in non-member countries individually as well as jointly in accordance with the principles of shari'ah.

The unit of account of the bank is the Islamic Dinar.

It follows the principles of shari'ah, or Islamic jurisprudence. Shari'ah compatible practices include:

  • Loan
  • Leasing
  • Installment Sale
  • Istisna'a
  • Equity Participation
  • Lines of Financing

Organization of the Islamic Conference

Retrieved from "http://en.wikipedia.org/wiki/Islamic_Development_Bank"
Advanced Search
Included Web Search Engines


Safe Search

close

Top Matching Results

Occasionally Search.com will highlight specialized results that are based on the context of your query. Examples of specialized results include specific links to news, images, or video.

Top Matching Results may highlight information from other Search.com pages, content from the CNET Network of sites, or third party content. The listings are based purely on relevance. Search.com does not receive payment for listings in this section but our partners that provide this data may get paid for listing these products.

Sponsored Links

This section contains paid listings which have been purchased by companies that want to have their sites appear for specific search terms and related content. These listings are administered, sorted and maintained by a third party and are not endorsed by Search.com.

Search Results

Search.com sends your search query to several search engines at one time and integrates the results into one list which has been sorted by relevance using Search.com's proprietary algorithm. You can customize the list of search engines included in your metasearch from the preferences.

The search engines that are used in your metasearch may allow companies to pay to have their Web sites included within the results. To view the Paid Inclusion policy for a specific search engine, please visit their Web site. Search.com does not accept payment or share revenue with any search engine partner for listings in this section.