Islamic Development Bank: Working for Economic Development and Social Progress of Member Countries and Muslim Communities!

The Islamic Development Bank is an international financial institution whose purpose is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with the principles of Shari’ah i.e., Islamic Law.

The Bank is established in pursuance of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim Countries held in Jeddah in Dhul Q’adah 1393H, corresponding to December 1973.

The Bank’s vision is to be the leader in fostering socio-economic development in member countries and Muslim communities in non-member countries in conformity with Shariah.

The IDB Group is committed to alleviating poverty; promoting human development; science and technology; Islamic economics; banking and finance; and enhancing cooperation amongst member countries, in collaboration with its development partners.”

Areas of Interests

Role of Islamic Finance in Achieving Sustainable Development Goals
Essence of Islamic Finance
IDB Should Promote Trade and Investment in Africa – Former President Olusegun Obasanjo
Cooperation with the Organisation of Islamic Cooperation (OIC)
Islamic Finance: An Agenda for Balanced Growth and Development
Poverty Reduction
Member Country Partnership Strategy (MCPS)
Reverse Linkage
Africa’s Minds Build a Better Future

Grant Programs

Scholarship Programs: The Bank’s fund and implement its scholarship programmes as part of its overall effort in the development of human resources of its member countries and those of the Muslim communities in non-member countries. There are three scholarship programmes offered by IDB:

Scholarship Programme for Muslim Communities in Non-Member Countries
M.Sc Scholarship Programme in Science and Technology for IDB Least Developed Member Countries
Merit Scholarship Programme for High Technology

Special Assistance Programme: The Special Assistance Programme was established in 1400H with the objective of assisting Muslim communities in non-member countries. It helps in developing and strengthening institutions involved in education social and health services to improve wellbeing of the masses and preserve their Islamic and cultural identity. It also aims at alleviating the suffering of communities afflicted by natural disasters or conflicts in both member and non-member countries.