Islamic Development Bank
Islamic Development Bank (also known as IDB), is a multilateral development financing institution. It was founded by the first conference of Finance Ministers of the Organization of the Islamic Conference (OIC), convened 18 December 1973, which is 24 Dhul Qa'da 1393H on the Islamic calendar.
The bank officially began it's activities on 15 Shawwal 1395H (20 October 1975). On the basis of paid-up capital, these countries are the main shareholders of the Bank:
- Saudi Arabia
- Kuwait
- Libya
- Turkey
- UAE
- Iran
- Egypt
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
External links
Referenced By
Afghanistan/Government | AfghanistanGovernement | Afghanistan timeline August 2003 | Albania/Government | AlbaniaGovernment | Algeria/Government | Chad/Transnational issues | Economy of Maldives | Economy of the Maldives | Foreign relations of Chad | Foreign relations of Kuwait | Foreign relations of Saudi Arabia | Foreign relations of Tajikistan | Government of Afghanistan | Government of Albania | Government of Algeria | Government of Iran | Government of Mauritania | Government of Qatar | Government of Turkmenistan | Government of Uganda | Indonesia/Government | Iran/Government | Kuwait/Transnational issues | Malaysia/Government | Maldives/Economy | Mauritania/Government | Niger/Government | Politics of Afghanistan | Politics of Albania | Politics of Algeria | Politics of Indonesia | Politics of Iran | Politics of Malaysia | Politics of Mauritania | Politics of Niger | Politics of Qatar | Politics of Saudi Arabia | Politics of Turkmenistan | Politics of Uganda | Qatar/Government | Saudi Arabia/Government | Saudi Arabia/Transnational issues | Tajikistan/Transnational issues | Turkmenistan/Government | Uganda/Government
|
