What is the Islamic Development Bank (IsDB)?

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

What does IDB stand for?

IDB has evolved into a group of five entities, consisting of Islamic Development Bank (IDB), Islamic Research & Training Institute (IRTI), Islamic Corporation for Development of the Private Sector (ICD), Islamic Corporation for Insurance of Investment and Export Credit (ICIEC) and International Islamic Trade Finance Corporation (ITFC).

How many countries are members of ISDB?

The present membership of the Bank consists of 57 countries. The basic condition for membership is that the prospective member country should be a member of the Organization of the Islamic Cooperation (OIC) . The IsDB Board of Governors has the authority to set the terms and conditions on the subscription and payment to the capital of the Bank.

What currency does the Islamic State use?

The Islamic State dinar ( Arabic: دينار الدولة الإسلامية ), also simply the gold dinar, is the de jure currency of the Islamic State, a terrorist organization and former proto-state from 2014 to 2019. It is subdivided into dirhams and fulûs, and it has its origins in the historical gold dinar.