Course summary (Islamic Development Bank):
(البنك الإسلامي للتنمية)
The Islamic Development Bank is an international financial organization created in achievement of the Declaration of Intent issued by the Conference of Finance Ministers of Muslim countries held in Jeddah in 1393H
(December 1973). The Inaugural Meeting of the Board of Governors took place in Rajab 1395H
(July 1975), and the Bank was formally opened on 15 Shawwal 1395H (20 October 1975).
The present membership of the Bank consists of 56 countries. The official
language of the Islamic Development Bank is Arabic.
The goal of the Islamic Development Bank is to promote the economic development, International trade and social progress of
members of the
Islamic Development and Muslim communities individually as well as jointly in
agreement with the principles of Shari'ah
(Islamic Law). Shari'ah is the set of rules derived from the Holy Quran, the authentic traditions (Sunnah) of the Prophet (peace be upon him) and the scholarly opinions (Ijtehad) which are based on the Holy Quran and the Sunnah.
Objectives of the Islamic Development Bank:
- Promotion of Islamic financial industry and institutions
- Poverty reduction
- Promotion of cooperation among Islamic Development Bank's member countries
Islamic Development Bank Member countries:
United Arab Emirates, Kyrgyz, Lebanon, Libya, Mauritania, Morocco, Mozambique, Palestine, Qatar, Saudi Arabia, Senegal, Sierra Leone, Somalia, Sudan, Suriname, Syria, Tajikistan, Togo, Tunisia, Uganda, Niger, Pakistan, Afghanistan, Chad, Albania, Benin, Iran, Jordan, Algeria, Burkina Faso, Cameroon, Gambia, Uzbekistan, Indonesia, Malaysia, Iraq, Kazakhstan, Kuwait, Maldives, Mali, Nigeria, Oman, Turkmenistan, Azerbaijan, Bahrain, Bangladesh, Brunei Darussalam,
Comoros, Ivory Coast (Côte d'Ivoire), Djibouti, Gabon, Guinea, Guinea-Bissau, the Arab Republic of Egypt,
Yemen, Turkey,
Example of the course Islamic Development Bank:
Preference Areas of the Islamic Development Bank:
The Islamic Development Bank IDB Group will focus on the following 6 preference areas.
- Human development
- Agricultural development and food security
- Infrastructure development
- International trade among member countries
- Private sector development
- Research and development (R and D) in Islamic economics, banking and finance
Headquartered in Jeddah (Saudi Arabia), the
Islamic Development Bank Group also has 3 regional offices in member countries: Almaty (Kazakhstan), Kuala Lumpur (Malaysia), and Rabat (Morocco). I
The Islamic Development Bank is also in the process of opening its 4th regional office in Dakar, Senegal. The
Islamic Development Bank has field representatives in 13 member countries: Bangladesh, Guinea, Guinea Bissau, Indonesia, Iran, Libya, Mauritania, Nigeria, Pakistan, Senegal, Sierra Leone, Sudan, and Uzbekistan.
Islamic Development Bank - Unit of Account (Islamic Dinar) .
A unit of account of Islamic Development Bank which is equivalent to one Special
Drawing Right (SDR) of the International Monetary Fund. Composition of the currencies in SDR basket denominating in Islamic Dinar are USD 44%, EUR 34%, GBP 11% and JPY 11%.
Islamic Development Bank Group offers a broad spectrum of financing and development schemes: project financing,
International trade financing, insurance
in agreement with principles of Shari'a (Islamic Law) financing modes.
The Istisna'a finance mode allows providing financing for manufacturing
and/or distribution of identified
products (equipment, civil works).
Istisna'a is a contract whereby a party undertakes to produce a specific thing which is possible to be made
in agreement with some agreed-upon specifications at a determined price and for a fixed date of delivery. This undertaking of production includes any process of manufacturing, construction, assembling or packaging.
Islamic corporation for Insurance of Investments and Export Credits (ICIEC). ICIEC was founded in 1415H (1994) with the objective to
broaden the amplitude of regional trade transactions
and Foreign direct investment (FDI) flows among the member countries of the
Organization of Islamic Conference (OIC).
The Islamic corporation for the development of the private sector (ICD) is a multilateral organization, affiliated with the Islamic Development Bank (IDB) Group. Its shareholders are the IDB, 45 Islamic member countries, and 5 public financial institutions from member countries.
The goal of the International Islamic trade finance corporation (ITFC) is to promote trade of the member countries of the Islamic Development Bank through providing Trade finance and engaging in activities that facilitate intra-trade.
The Arab Bank for economic development in Africa (BADEA) was founded pursuant to the decisions of 6th Arab Summit in Algeria on 28th November 1973. The Bank began operation in March 1975 with its Headquarters in Khartoum, capital of the Republic of Sudan.
EENI delivers to HRH Prince Alwaleed bin Talal a Master Honoris Causa
EENI in Arabic:
ماجستير في التجارة الخارجية و التسويق الدولي
