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 ?
Meanwhile, the Minister of Finance, Badr-Eddin Mahmoud, appreciated the great role of the Islamic Development Bank in the funding of major projects in Sudan, explaining that the bank has extended around 1.
KUWAIT, May 4 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received President of the Islamic Development Bank (IDB) Ahmed Mohammed Ali and Director of the International Islamic Trade Finance Corporation (ITFC) Waleed Al-Wohaib at Seif Palace on Sunday on the occasion of the fifth anniversary of the organization.
This company was selected as a consultant for implementation of technical assistance (grant) between the Kyrgyz government and the Islamic Development Bank concerning introduction of Islamic banking and financing in Kyrgyzstan.
ISLAMABAD -- The Islamic Development Bank (IDB) has invited nominations for its Eighth Edition of the IDB Prize for Women's Contribution to Development (Women, Environment and Sustainable Development 2013).
Walid Al-Wohaib, CEO of the IITF, highlighted the long-term strategic partnership between the Islamic Development Bank and the ABG.
ANKARA, Mar 25, 2010 (TUR) -- Turkey's State Minister Cevdet Yilmaz met with President Ahmad Mohamed Ali Al Madani of the Islamic Development Bank in Ankara on Thursday.
Summary: TUNIS - An agreement on guarantee and another loan agreement granted by the Islamic Development Bank (IDB)Islamic Development Bank (IDB)Islamic Development Bank
The 34th Annual Summit of the Islamic Development Bank will be held from May 2 to 3 to discuss global economic process, various activities of IDB, the bank`s financial bills and its funds.
Manama - A high-level gathering of the Women's Advisory Panel of the Islamic Development Bank (IDB), the multilateral development financing institution for the Islamic world, will be held in Bahrain from 31st March to First April 2008, to address the ever important role of women in the socio-economic development of Islamic member countries of the Bank.
6, 1998--The President of the Islamic Development Bank (IDB), Dr.
Major organization : ISLAMIC DEVELOPMENT BANK GROUP (IDB)
During the 39th Annual Meeting of the Islamic Development Bank in Jeddah, HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the UAE Minister of Finance, attended meetings with HE Dr.

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