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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. [1]
Since its inception in 1395H (1975G), the aim of the Islamic Development Bank (IDB) has been to improve the lives of ordinary people across the Islamic world by raising economic standards and increasing prosperity within the member countries of the Organisation of Islamic Cooperation (OIC, formerly the Organisation of the Islamic Conference).
Muhammad Sulaiman Al Jasser (Arabic: محمد سليمان الجاسر; born 1955) is a Saudi economist who is currently the chairman of the Islamic Development Bank (IsDB) group former advisor at the General Secretariat of the Council of Ministers of Saudi Arabia and chairman of the General Authority for Competition. [1]
In 2012 DBHC, the Islamic Development Bank, and the Qatari government signed a memorandum of understanding to establish an Islamic Bank with $1 billion in capital. [6] The huge Islamic Bank shall provide “liquidity-management solutions in an effort to create an Islamic inter-bank market,” said Ahmad Mohamed Ali Al-Madani, chairman of Jeddah ...
Islamic Development Bank; Preferential Trade Area Bank; World Bank Group. International Bank for Reconstruction and Development (IBRD)
Established by the Islamic Corporation for the Development of the Private Sector (ICD), an affiliate of the Islamic Development Bank Group (IDB) and GFH Financial Group, GFH Capital introduced structured private equity investing and Islamic finance to the Gulf Cooperation Council (GCC). GFH Capital has structured investments exceeding USD 8bn ...
From 1972–1975, he served as Deputy Minister of Education. In 1975, he was elected as the first president of the newly established Islamic Development Bank. [1] [2] In addition to the bank activities, 1993–1995 he was the Secretary-General of the Muslim World League. [1] He is married and has five children. [1] [2]
It was renamed the Islamic Bank of Brunei (IBB) in 1993, and the Development Bank of Brunei (DBB) was founded in 1995. Afterwards, DBB changed its name to the Islamic Development Bank of Brunei (IDBB) in 2001. In 2005, IBB and IDBB underwent a crucial merger that led to the establishment of Bank Islam Brunei Darussalam (BIBD).
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