Islamic Development Bank

Islamic Development Bank Overview

The Islamic Development Bank (IsDB) is a multilateral development finance institution headquartered in Jeddah, Saudi Arabia, dedicated to advancing Islamic finance for infrastructure and socio-economic development.

The Organisation of Islamic Cooperation founded the IsDB in 1973.

IsDB commenced operations in 1975 and has since grown to include 57 member states, with Saudi Arabia as its largest shareholder.

The Bank’s capital was significantly increased to $150 billion in 2013, advancing its capacity to support both member and non-member countries. It also has observer status at the United Nations.

IsDB is comprised of five entities: the Islamic Development Bank Institute, the Islamic Corporation for Development of the Private Sector, the Islamic Corporation for Insurance of Investment and Export Credit and the International Islamic Trade Finance Corporation.

These bodies address a range of needs, including capacity building, trade support, and SME development and funding for both public and private sector projects.

As a leading global issuer of sukuk, IsDB promotes Shariah-compliant, sustainable financing for its development initiatives.

Its activities also emphasise partnerships among governments, private sectors, and civil society through Public-Private Partnerships (PPPs).

Key areas include poverty alleviation, science and technology innovation, and advancing the UN Sustainable Development Goals.

Its outreach extends globally, offering health, education and entrepreneurship support to Muslim minority communities in non-member countries. Notable projects include Mali’s Gao Bridge, which boosted regional trade by connecting remote communities.