Islamic Development Bank

The Islamic Development Bank (IsDB) (Arabic: البنك الإسلامي للتنمية) is a multilateral development finance institution that is focused on islamic finance located in JeddahSaudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia.

It was founded in 1973 by the Finance Ministers at the first Organisation of the Islamic Conference (now called the Organisation of Islamic Cooperation) with the support of the king of Saudi Arabia at the time (Faisal), and began its activities on 3 April 1975.

On the 22 May 2013, IDB tripled its authorized capital to $150 billion to better serve Muslims in member and non-member countries. The Bank has received credit ratings of AAA from Standard & Poor's, Moody's, and Fitch. Saudi Arabia holds about one quarter of the bank's paid up capital. The IDB is an observer at the United Nations General Assembly.

For more information https://www.isdb.org/