Islamic Development Bank


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Islamic Development Bank

Also called the IDB. A bank that provides development financing for countries and businesses in accordance with sharia law. Specifically, it does not charge interest on its loans but rather structures them so that profits from projects may be shared with the IDB. It also provides strictly interest-free loans for infrastructure and similar projects. Its shareholders include 54 Muslim-majority nations. It began operations in 1975.
References in periodicals archive ?
A visiting delegation from the Islamic Development Bank met on Monday with the Vice president, Riek Machar.
The loans that will be granted by Islamic Development Bank will be of great importance.
The Islamic Development Bank through its participation in this forum seeks to underline the importance for investors, organisations, and individuals in the Arab region to invest in technological projects and highlight the Investment returns that could be achieved from taking such steps," Islamic Development Bank Group president Ahmed Mohammed Ali said.
Part of a cooperative effort between the Operations Evaluation Department (OED) of the World Bank and the Operations Evaluation Office (OEO) of the Islamic Development Bank, this Country Assistance Evaluation represents the assessment of the OED with regards to World Bank development assistance to Tunisia, although the judgment of the OEO on Islamic Development Bank programs is included in executive summary and is to be issued in a separate report.
the launch of the Islamic Development Bank Infrastructure Fund,
The Inter-American Development Bank Group (IDB Group) and the Islamic Development Bank Group (ISDB Group) have formalized a new partnership agreement to facilitate joint knowledge sharing and technical assistance opportunities including the co-financing of projects in Guyana and Suriname, the member countries they have in common.
Jeddah, Dhu-AlQa'dah 10, 1438, August 02, 2017, SPA -- The Guinean President and President of African Union Alpha Conde has met at his residence here Vice President of Islamic Development Bank (IDB) Dr.
The Islamic Corporation for the Development of the Private Sector (ICD), which is the private arm of Islamic Development Bank Group (IDBG), and Suntrust Bank Nigeria Limited (SBN) are to collaborate.
The Islamic Development Bank Group hosted the IDB Group Private Sector Forum in collaboration with Indonesia Investment Coordinating Board and Indonesia Chamber of Commerce at the Jakarta Convention Center.
In December 2014 Vakifbank's Board of Directors had authorized the bank to carry out all necessary transactions to obtain financing from Islamic Development Bank (IDB) to pledge capital for the Bank's participation banking project, amounting to $300 million with Turkish Treasury guarantee.
Summary: Tunisia's parliament, Tuesday, approved a draft law authorising the state to subscribe to the fourth general capital increase of the Islamic Development Bank (IDB) with an amount of 16.
MIRPUR (AJK) -- Islamic Development Bank completed the construction of a total of 277 schools costing Rs.

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